Solar Panel Cost Guide in East Lake, FL (2024 Update)
- East Lake Solar Installation Cost: $11,854
- 25-Year Savings: $22,818
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in East Lake
Here’s how much it might cost to go solar in East Lake.
The national average cost of solar panels is $2.66 per watt, but in East Lake it’s 3 per watt.Because a 5.3-kW system is needed to cover the energy costs of a typical home in East Lake, the average price of going solar will be about $11,854 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of East Lake homeowners. The cost 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.With typical savings of about $24,000 on power bills over 20 years, many homeowners in East Lake find installing solar panels can be quite rewarding.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in East Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,079 |
| 3 years | $-6,529 |
| 5 years | $-2,980 |
| 7 years | $570 |
| 9 years | $4,119 |
| 11 years | $7,669 |
| 13 years | $11,218 |
| 15 years | $14,768 |
| 17 years | $18,318 |
| 19 years | $21,867 |
| 21 years | $25,417 |
| 23 years | $28,966 |
| 25 years | $32,516 |
Top Solar Installers in East Lake
Although you can install solar panels yourself, it involves extra energy and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Another great thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some 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
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 East Lake
Factors that Affect Solar Panel Costs in East 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 East 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 size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,210. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like East Lake, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in East Lake to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.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 considerably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in East Lake is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in East Lake are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $22,557 | 9.6 years |
| 8 kW | $3.27 | $18,336 | $30,436 | 9.4 years |
| 10 kW | $3.21 | $22,470 | $38,494 | 9.2 years |
| 12 kW | $3.15 | $26,425 | $46,732 | 9.0 years |
| 14 kW | $3.08 | $30,200 | $55,150 | 8.8 years |
| 16 kW | $3.02 | $33,795 | $63,747 | 8.7 years |
| 18 kW | $2.95 | $37,210 | $72,525 | 8.5 years |
| 20 kW | $2.89 | $40,446 | $81,482 | 8.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in East Lake, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: If you’re concerned about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 previous customers.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 East Lake, FL Solar Cost FAQs
How much does it cost to install solar panels in East Lake?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 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 usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in East Lake?
You can’t get solar panels for free in East Lake. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in East Lake?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in East 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.