Is $56,286 to install a 21.16 kW solar system a fair price?
Project Details
I've just committed to my solar setup in order to get in before the federal tax credit goes away. The company I'm using has their preferred lender, Dividend, but they are coming in at an 8.99% interest rate. I have a 790 credit score, so I thought I might be able to find something a tad lower. All my SRECs will be going into the loan, and I should be able to pay it off within 6-7 years. My main two reasons for getting solar are long-term savings and consistent price for an "energy bill". The electric rates in MD are going up multiple times a year now and based on all my math and research, it will be highly beneficial for my house to have solar. I got 6 quotes, and the company I chose wasn't necessarily the cheapest, but it wasn't the most expensive either. They had a ton of reasons why I chose them. Labor is included in my warranty, which is fairly industry standard, maybe a tad above average. I haven't looked into HELOCs, but I do like the option in my solar loan to re-amortize two other times besides my federal tax payoff.
Quote Details
This quote is for the installation of a 21.16 kW solar system. - System Size: 21.16 kW - Cost per Watt: $2.66 (before federal tax credit) - Solar Panels: REC Alpha Pure-RX Series 460W - Inverters: Enphase IQ8X
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More Details
Category
Solar
Price
$56,286
Quote Date
June 18, 2025
Location
Maryland
Battery Storage?
No
# of Panels
46
System Size (kW)
21.16
Warranty (yrs)
0
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