Benefits of Solar Energy
Solar energy offers multiple advantages. Here are some highlights.
- Smaller power bills: Sourcing some or all of your own electricity will cut power costs long-term. Plus, some states offer net metering programs that make it possible for you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during storms and grid outages.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Silver Spring Homeowners?
Maryland homeowners who upgrade to solar could qualify for special financing, tax credits, rebates and reimbursements. Here are just a few of the local incentive programs.
Incentive Type: Rebate Program
Website: energy.maryland.govIncentive Amount:
PV: $1,000/project (flat per installation/household incentive)
SWH: $500/project (flat per installation/household incentive)
New GHC: $3,000/project
GHC Replacement: $500/project
Incentive Type: Solar Renewable Energy Credit Program
Website: psc.state.md.usIncentive Amount:
Varies based on market conditions
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption from sales and use tax
Incentive Type: Property Tax Incentive
Incentive Amount:
100% real property tax exemption for solar and wind energy property
Incentive Type: Rebate Program
Website: energy.maryland.govIncentive Amount:
Stick Burning Stove: $500
Pellet Burning Stove: $700
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies by jurisdiction; credit may be available for up to 3 years.
Incentive Type: Rebate Program
Website: bgesmartenergy.comIncentive Amount:
Appliances & Recycling
Clothes Dryer (Electric): $50
Clothes Washer: $75 - $100
Hybrid Heat Pump Water Heater: $500
Pool Pump: $150 - $400
Refrigerator: $100
Dehumidifier: $30
Refrigerator or Freezer Recycling: $50, plus $25 bonus when recycling an old, working room A/C or dehumidifier at the same time
Room A/C or Dehumidifier Recycling (*May 20, 2017 only*): $25
Smart Thermostat: $100
Heating & Cooling
Air-Source Heat Pump: $400 - $650
Central A/C: $300 - $500
Gas Furnace: $250
Furnace Blower Motor: $50 - $100
Geothermal Heat Pump: $1,500
Lighting
Instant discounts vary by participating retailer; see program website
Incentive Type: Rebate Program
Website: bgesmartenergy.comIncentive Amount:
Appliances & Recycling
Clothes Dryer (Electric): $50
Clothes Washer: $75 - $100
Hybrid Heat Pump Water Heater: $500
Pool Pump: $150 - $400
Refrigerator: $100
Dehumidifier: $30
Refrigerator or Freezer Recycling: $50, plus $25 bonus when recycling an old, working room A/C or dehumidifier at the same time
Room A/C or Dehumidifier Recycling (*May 20, 2017 only*): $25
Smart Thermostat: $100
Heating & Cooling
Air-Source Heat Pump: $400 - $650
Central A/C: $300 - $500
Gas Furnace: $250
Furnace Blower Motor: $50 - $100
Geothermal Heat Pump: $1,500
Lighting
Instant discounts vary by participating retailer; see program website
Incentive Type: Rebate Program
Website: energy.maryland.govIncentive Amount:
Residential: $4,000/kW of normalized capacity at 11 m/s
Community: $1000/kW - $4000/kW, depending on the system capacity
Incentive Type: Rebate Program
Website: pepco.comIncentive Amount:
LightingGet instant, in-store discounts on select ENERGY STAR certified lighting.
LED Bulbs: Up to $3 per bulb
LED Fixtures: $8 per fixture
Appliances
Clothes Dryer: $50
Clothes Washer: $75 - $100
Hybrid Water Heater: $500
Pool Pump: $150 - $400
Refrigerator: $100
Smart Thermostat: $100
Dehumidifier: $30
HVAC
Air-Source Heat Pump: $400 (Tier 1) - $650 (Tier 2)
Central A/C: $300 (Tier 1) - $500 (Tier 2)
Geothermal Heat Pump: $1,500
ECM Furnace Motor: $50 - $100
Home Energy Check up: Free
Recycling
Refrigerator or Freezer: $50
Room A/C or Dehumidifier: $25
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Silver Spring
Choosing a company is the first step toward an effective and cost-efficient solar system. Here are some key items to bear in mind while shopping for a solar installer.
Licensing and Training
A Maryland solar photovoltaic installation team must include a Home Improvement Commission-licensed contractor and a master electrician with at least seven years of experience. The contractor installs the panels, while the master electrician handles permits and connects the system to the grid. If you're installing a solar water heater, your contracting team must include a master plumber for permits and utility connections. Solar installers can also earn certificates from trade groups and standards organizations. The most recognized ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Silver Spring
Your solar panels' type will affect how much energy you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can maximize your solar system's performance. Not all solar companies include these extras, so look for a company that installs them if it's crucial for you.
You can expect to pay about $17,700 on average for a five-kilowatt solar energy system in Silver Spring. Use the table in this section to get an idea of how much Silver Spring solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,322 |
Solar Polycrystalline | $1,031 |
Thin-Film | $603 |
Solar Battery | $846 |
Solar Home EV Charger | $3,173 |
Financing Solar Energy in Silver Spring
There are numerous ways to pay for new solar panels, and the right one will help you decrease overhead. A few of the most common options include cash payments, loans, power purchase agreements (PPAs), and leases. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each installer you're evaluating about the payment options it offers. A staff member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Silver Spring.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.9 years |
2 kW | 5.7 years |
5 kW | 14.3 years |
10 kW | 28.6 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Silver Spring
How much money could I save by going solar in Silver Spring?
How popular is solar energy in Silver Spring?
Should I expect a property value increase after switching to solar energy?
Could I still use solar power if I live in a wooded, dark, or rainy area?
How long does the solar installation process take?
What is the average payback period for Silver Spring solar panels?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.