Solar Panel Cost Guide in Cypress Lake, FL (2024 Update)
- Cypress Lake Solar Installation Cost: $12,004
- 25-Year Savings: $19,299
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Cypress Lake
Find out what the average cost of solar panel installation is in Cypress Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cypress Lake, the typical cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in Cypress Lake, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs around $12,004, or $17,166 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $20,000 in savings on utility bills over 20 years.
To get a free estimate from a pre-vetted solar installation company in Cypress Lake, you can click the button below.
Solar savings over time in Cypress Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,883 |
| 5 years | $-5,136 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,106 |
| 13 years | $5,853 |
| 15 years | $8,601 |
| 17 years | $11,348 |
| 19 years | $14,095 |
| 21 years | $16,842 |
| 23 years | $19,589 |
| 25 years | $22,337 |
Top Solar Installers in Cypress Lake
Trying to put up solar panels by yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for your family.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cypress Lake
Factors that Affect Solar Panel Costs in Cypress Lake
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Cypress 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
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher 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 $3,210.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.Although solar loans make switching to solar energy more accessible for Cypress Lake homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Cypress Lake, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $18,280 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,733 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,366 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,178 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,170 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,342 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,694 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,225 | 9.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: If you’re worried about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand 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 offerings before making your decision.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Cypress Lake, FL Solar Cost FAQs
How much does it cost to install solar panels in Cypress Lake?
The average cost of solar panels in Cypress 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Cypress Lake?
Solar panels aren’t free in Cypress Lake, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Cypress Lake?
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 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.