Solar Panel Cost Guide in Buckingham, FL (2023 Update)
- Buckingham Solar Installation Cost: $9,457
- 25-Year Savings: $19,303
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Buckingham
Let's have a look at the average cost of solar in Buckingham.
The national average cost of solar panels is $2.66 per watt, but in Buckingham it's 2.53 per watt. Using this figure, a typical 5.3-kW system would cost about $9,457 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Buckingham homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large initial cost, the average Buckingham homeowner can save about $20,000 on their power bills over 20 years, which is one of the perks of solar.
To receive a free quote from a vetted solar installation company in Buckingham, you can click the button below.
Solar savings over time in Buckingham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,307 |
| 3 years | $-6,006 |
| 5 years | $-3,705 |
| 7 years | $-1,404 |
| 9 years | $896 |
| 11 years | $3,197 |
| 13 years | $5,498 |
| 15 years | $7,799 |
| 17 years | $10,100 |
| 19 years | $12,400 |
| 21 years | $14,701 |
| 23 years | $17,002 |
| 25 years | $19,303 |
Top Solar Installers in Buckingham
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your switch to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Buckingham
Factors that Affect Solar Panel Costs in Buckingham
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Buckingham: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need, 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 about $2,530. The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Buckingham, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Buckingham, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $21,250 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,617 | 8.4 years |
| 10 kW | $2.53 | $17,710 | $36,126 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $43,776 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $51,568 | 7.9 years |
| 16 kW | $2.38 | $26,636 | $59,501 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $67,576 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $75,793 | 7.4 years |
How to Save on Solar Panels
There are numerous companies available in Buckingham, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed 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 Buckingham, FL Solar Cost FAQs
How much does it cost to install solar panels in Buckingham?
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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Buckingham?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Buckingham, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.