As the world works toward a more sustainable future, solar energy has emerged as a popular alternative to traditional polluting electricity sources. The nation’s capital has actively promoted solar adoption. But before you invest in solar panels in Washington, DC, you’re probably wondering how much it will cost you.
Installation Costs
The current price of solar in DC is an estimated $3.06 per watt, and one solar panel is around 250 to 400 watts. So for an array of 15 panels with 400-watt panels, for example, you’d pay around $20,000 for the panels. Add on to that number to account for local jurisdiction fees and labor costs.
If that was the end of the story, you might already be clicking away from this page. Luckily, there are several incentives to go solar that can significantly lower the price.
Financial Incentives and Net Metering
First, there’s the federal solar tax credit, also called the Investment Tax Credit. You claim the tax credit on your federal income taxes the year the system is installed. The tax credit is 30%, and will be until at least 2033. Expenses included in the credit are the cost of solar panels, racking and electrical equipment, contractor labor costs (including inspection costs and permitting fees), and battery storage devices, if you opt for one.
Next, you’ll benefit from Solar Renewable Energy Credits, or SRECs. DC has the best SREC market in the country. You’ll gain one SREC when your rooftop array generates one megawatt-hour, and the average residential solar system generates about 10 SRECs per year. One SREC is worth around $400. So you could earn $4,000 a year, just for having solar on your roof. Learn more in Uprise’s blog post about SRECs.
Then, there’s net metering to consider. We estimate solar panels in Washington, DC will save you 50% to 80% on your Pepco bill, but net metering could save you even more. Net metering is a billing arrangement with Pepco allowing you to receive credit for any excess electricity your system generates, which you send back to the grid. Your meter will track the electricity you send to the grid and the electricity you consume from the grid (at night or when it’s cloudy, for example). We’ll get you set up for net metering with Pepco when we submit interconnection paperwork. In some cases, such as if you have an older meter, they may need to come out and install a bidirectional meter.
How can I pay for solar?
While the upfront cost of solar panels may seem significant, there are several financing options available for you to make it more affordable. Uprise offers three options to pay for solar.
You can pay for solar in cash; this is the best option if you want the federal solar tax credit and SREC income, which go to the system owner. You can also pay for the system over time through a solar loan.
But Uprise also offers a no-cost solar program if you want to see savings quickly. With the no-cost solar program, you agree to let us install solar on your roof. We’ll cover the installation costs. Once the system is up and running, you’ll receive a bill from us for the electricity your panels generate, at a lower rate than what you’d get from Pepco. You’ll still have to pay Pepco for any excess electricity you need, but your electric bills will drop. And as the system owner, we’ll provide any necessary maintenance for 20 years.
Our no-cost solar program allows you to benefit from renewable energy even if your goal isn’t system ownership. We’re on a mission to make sure solar is accessible for everyone in the DMV, and our no-cost solar program is how we’re making it happen!
If you want to learn more about your options for going solar, check out Uprise’s blog post here. We’re more than happy to answer any questions you might have too, either over email or phone.
Why should I choose Uprise for my solar project in DC?
We are a local company, with years of experience in the DC region. We know the ins and outs of going solar here in the District. Many of the Uprise team members met working for other solar companies in the area, and we joined together to offer the DMV a more reliable option. Our leadership team comes with a combined 80 years of experience in the solar industry in the DMV.
We’re your neighbor, and we’re passionate about providing quality solar installations for our community. If you reach out to us, you’ll be able to get in touch with a live, local employee. We promise to treat your home as if it’s our own, and we cover our jobs with a workmanship warranty, found in your contract. You can check out our reviews to see how we’re living up to these claims!
Ready to learn more? Call us at (202) 280-2285 or schedule a free consultation here to explore how solar panels in Washington, DC can work for you.