Solar Panel Cost Guide in Englewood, FL (2024 Update)
- Englewood Solar Installation Cost: $12,053
- 25-Year Savings: $19,260
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Englewood
We break down average solar pricing in Englewood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Englewood, the typical cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Englewood, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs around $12,053, or $17,236 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Englewood depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Englewood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,679 |
| 3 years | $-7,932 |
| 5 years | $-5,185 |
| 7 years | $-2,438 |
| 9 years | $309 |
| 11 years | $3,057 |
| 13 years | $5,804 |
| 15 years | $8,551 |
| 17 years | $11,298 |
| 19 years | $14,046 |
| 21 years | $16,793 |
| 23 years | $19,540 |
| 25 years | $22,287 |
Top Solar Installers in Englewood
Many homeowners opt for a solar installer since installing solar panels on your own can be challenging. Some solar companies, particularly local ones, can help you take advantage of incentives in Englewood, optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Englewood
Factors that Affect Solar Panel Costs in Englewood
Even though the average cost of a solar system in Englewood is $12,053, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,210. The type of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact the cost. Englewood’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,148 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,557 | 10.7 years |
| 10 kW | $3.21 | $22,470 | $31,145 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,914 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,862 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,990 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,297 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $66,785 | 9.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: 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.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done 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
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 Englewood, FL Solar Cost FAQs
What is the average cost of installing solar panels in Englewood?
This is a hard question to answer exactly, because the cost depends on a few different 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 above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Englewood?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.
Is it worth going solar in Englewood?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.