Solar Panel Cost Guide in Crystal Lake, FL (2024 Update)
- Crystal Lake Solar Installation Cost: $12,358
- 25-Year Savings: $16,156
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Crystal Lake
Let’s have a look at the average cost of solar in Crystal Lake.
The national average cost of solar panels is $2.66 per watt, but in Crystal Lake it’s 3 per watt.Using this figure, a typical 5.5-kW system would cost about $12,358 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $19,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Crystal Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-8,382 |
| 5 years | $-5,731 |
| 7 years | $-3,081 |
| 9 years | $-430 |
| 11 years | $2,221 |
| 13 years | $4,871 |
| 15 years | $7,522 |
| 17 years | $10,173 |
| 19 years | $12,824 |
| 21 years | $15,474 |
| 23 years | $18,125 |
| 25 years | $20,776 |
Top Solar Installers in Crystal Lake
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make switching to solar power much easier. In addition, if you’d like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
There are several licensed solar professionals that can help you install your solar panels. 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Crystal Lake
Factors that Affect Solar Panel Costs in Crystal Lake
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Crystal Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Crystal Lake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,210 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Crystal Lake homeowners decide to finance their solar panel systems to offset upfront costs.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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Crystal Lake, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Crystal Lake are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $3.34 | $14,021 | $14,230 | 12.4 years |
| 8 kW | $3.27 | $18,336 | $19,333 | 12.2 years |
| 10 kW | $3.21 | $22,470 | $24,615 | 11.9 years |
| 12 kW | $3.15 | $26,425 | $30,077 | 11.7 years |
| 14 kW | $3.08 | $30,200 | $35,719 | 11.5 years |
| 16 kW | $3.02 | $33,795 | $41,541 | 11.2 years |
| 18 kW | $2.95 | $37,210 | $47,543 | 11.0 years |
| 20 kW | $2.89 | $40,446 | $53,724 | 10.7 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- 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 expectations you should have 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
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Crystal Lake, FL Solar Cost FAQs
What is the average cost of installing solar panels in Crystal Lake?
The average cost of solar panels in Crystal Lake is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Crystal Lake?
You can’t get solar panels for free in Crystal Lake. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Crystal Lake?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.