Solar Panel Cost Guide in Bithlo, FL (2023 Update)
- Bithlo Solar Installation Cost: $9,695
- 25-Year Savings: $21,008
- Payback Period: 7.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bithlo
Find out what the average cost of installing solar panels is in Bithlo.
In Bithlo, solar panels cost about 2.53 per watt on average. Since a 5.5-kW system is needed to cover the energy needs of a typical home in Bithlo, 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 Bithlo homeowner. 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. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Bithlo can save around $21,000 on their power bills over 20 years.
To receive a free estimate from a highly rated solar company in Bithlo, you can click the button below.
Solar savings over time in Bithlo
| Year | Return on Investment |
|---|---|
| 1 years | $-9,593 |
| 3 years | $-9,388 |
| 5 years | $-9,183 |
| 7 years | $-8,979 |
| 9 years | $-8,774 |
| 11 years | $-8,569 |
| 13 years | $-8,365 |
| 15 years | $-8,160 |
| 17 years | $-7,955 |
| 19 years | $-7,751 |
| 21 years | $-7,546 |
| 23 years | $-7,341 |
| 25 years | $-7,137 |
Top Solar Installers in Bithlo
Many homeowners choose to hire a solar panel installer since trying to install solar panels yourself can be challenging. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our recommendations for providers 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 Bithlo
Factors that Affect Solar Panel Costs in Bithlo
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Bithlo: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,530 per kilowatt in Bithlo. The kind of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 looking into a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Bithlo's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bithlo are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $22,599 | 8.2 years |
| 8 kW | $2.58 | $14,451 | $30,416 | 8.1 years |
| 10 kW | $2.53 | $17,710 | $38,374 | 7.9 years |
| 12 kW | $2.48 | $20,827 | $46,474 | 7.7 years |
| 14 kW | $2.43 | $23,802 | $54,715 | 7.6 years |
| 16 kW | $2.38 | $26,636 | $63,099 | 7.4 years |
| 18 kW | $2.33 | $29,328 | $71,624 | 7.3 years |
| 20 kW | $2.28 | $31,878 | $80,290 | 7.1 years |
How to Save on Solar Panels
There are many companies to choose from in Bithlo, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Warranty: If you care about the longevity of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Bithlo, FL Solar Cost FAQs
What is the average cost of installing solar panels in Bithlo?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,121.68 per year.
How long do solar panels last in Bithlo?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.