Solar Panel Cost Guide in Bay Hill, FL (2023 Update)
- Bay Hill Solar Installation Cost: $9,695
- 25-Year Savings: $20,670
- Payback Period: 8.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Bay Hill
Let's have a look at the average cost of solar in Bay Hill.
In Bay Hill, solar panels cost about 2.53 per watt on average. Because a 5.5-kW system is needed to cover the energy needs of a typical home in Bay Hill, the average price of going solar will be about $9,687 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Bay Hill homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar company in Bay Hill for a quote for your home.
Solar savings over time in Bay Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-7,920 |
| 3 years | $-4,371 |
| 5 years | $-821 |
| 7 years | $2,728 |
| 9 years | $6,278 |
| 11 years | $9,827 |
| 13 years | $13,377 |
| 15 years | $16,927 |
| 17 years | $20,476 |
| 19 years | $24,026 |
| 21 years | $27,575 |
| 23 years | $31,125 |
| 25 years | $34,674 |
Top Solar Installers in Bay Hill
When making the switch to solar, many homeowners choose to hire a solar installation company since DIY solar panel installation can be a challenging project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for your home.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Bay Hill
Factors that Affect Solar Panel Costs in Bay Hill
The cost of installing a solar system in Bay Hill can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,530. The type of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Bay Hill homeowners decide to finance their solar panel systems to offset upfront costs. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Bay Hill, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $22,229 | 8.3 years |
| 8 kW | $2.58 | $14,451 | $29,922 | 8.1 years |
| 10 kW | $2.53 | $17,710 | $37,757 | 8.0 years |
| 12 kW | $2.48 | $20,827 | $45,733 | 7.8 years |
| 14 kW | $2.43 | $23,802 | $53,851 | 7.7 years |
| 16 kW | $2.38 | $26,636 | $62,111 | 7.5 years |
| 18 kW | $2.33 | $29,328 | $70,512 | 7.3 years |
| 20 kW | $2.28 | $31,878 | $79,055 | 7.2 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bay Hill, FL Solar Cost FAQs
What is the average cost of installing solar panels in Bay Hill?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Bay Hill?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Bay Hill?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.