Solar Panel Cost Guide in Chipley, FL (Mar 2023)
- Chipley Solar Installation Cost: $10,360
- 25-Year Savings: $24,039
- Payback Period: 7.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Chipley
Let's have a look at the average cost of solar panels in Chipley.
The average cost of a solar system in Chipley is 2.53 per watt. Since a 5.8-kW system is needed to cover the energy usage of a typical home in Chipley, the average price of going solar will be about $10,360 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will most likely look different based on your specific situation and what company you want to go with. Despite the large upfront cost, the average Chipley homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Chipley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,984 |
| 3 years | $-6,232 |
| 5 years | $-3,480 |
| 7 years | $-728 |
| 9 years | $2,024 |
| 11 years | $4,776 |
| 13 years | $7,528 |
| 15 years | $10,280 |
| 17 years | $13,031 |
| 19 years | $15,783 |
| 21 years | $18,535 |
| 23 years | $21,287 |
| 25 years | $24,039 |
Top Solar Installers in Chipley
When switching to solar energy, many homeowners decide to use a solar installer since putting up a solar system yourself can be a difficult project. Plus, if you'd like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're searching for a solar company in Chipley, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Chipley
Factors that Affect Solar Panel Costs in Chipley
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,530. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Chipley to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Chipley, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $24,259 | 7.8 years |
| 8 kW | $2.58 | $14,451 | $32,629 | 7.7 years |
| 10 kW | $2.53 | $17,710 | $41,141 | 7.5 years |
| 12 kW | $2.48 | $20,827 | $49,794 | 7.4 years |
| 14 kW | $2.43 | $23,802 | $58,589 | 7.2 years |
| 16 kW | $2.38 | $26,636 | $67,526 | 7.1 years |
| 18 kW | $2.33 | $29,328 | $76,604 | 6.9 years |
| 20 kW | $2.28 | $31,878 | $85,824 | 6.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Chipley, FL Solar Cost FAQs
What is the average cost of installing solar panels in Chipley?
This is a hard question to answer precisely, because the cost depends on a few different 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 more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Chipley, that will require at least a 10-kW system. Not all homes will have the roof space for 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 many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.