Solar Panel Cost Guide in Fern Park, FL (2024 Update)
- Fern Park Solar Installation Cost: $12,566
- 25-Year Savings: $20,951
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Fern Park
Find out what the average cost of solar panel installation is in Fern Park.
The national average cost of solar panels is $2.66 per watt, but in Fern Park it’s 3 per watt.Since a 5.6-kW system is needed to cover the energy costs of a typical home in Fern Park, the average price of going solar will be about $12,566 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Fern Park based on several factors, such as the type of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a rewarding investment. The average homeowner in Fern Park can save about $21,000 on their energy bills over 20 years.
To receive a free quote from a vetted solar company in Fern Park, you can click the button below.
Solar savings over time in Fern Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,791 |
| 3 years | $-7,241 |
| 5 years | $-3,692 |
| 7 years | $-142 |
| 9 years | $3,407 |
| 11 years | $6,957 |
| 13 years | $10,506 |
| 15 years | $14,056 |
| 17 years | $17,606 |
| 19 years | $21,155 |
| 21 years | $24,705 |
| 23 years | $28,254 |
| 25 years | $31,804 |
Top Solar Installers in Fern Park
Many homeowners choose to use a solar installation company since trying to put up solar panels on your own can be time-consuming. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for you.
You can get a free estimate from a local solar installer 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 Fern Park
Factors that Affect Solar Panel Costs in Fern Park
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Fern Park: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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.The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, 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
Most solar companies in Fern Park provide solar loans, which reduce the initial cost of installing solar.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Fern Park have more knowledge 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 end up saving you 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 | $19,083 | 10.6 years |
| 8 kW | $3.27 | $18,336 | $25,803 | 10.4 years |
| 10 kW | $3.21 | $22,470 | $32,704 | 10.2 years |
| 12 kW | $3.15 | $26,425 | $39,784 | 10.0 years |
| 14 kW | $3.08 | $30,200 | $47,044 | 9.8 years |
| 16 kW | $3.02 | $33,795 | $54,483 | 9.6 years |
| 18 kW | $2.95 | $37,210 | $62,102 | 9.4 years |
| 20 kW | $2.89 | $40,446 | $69,902 | 9.2 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should go with, since different companies provide different panels.
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 Fern Park, FL Solar Cost FAQs
How much does it cost to install solar panels in Fern Park?
The average cost of solar panels in Fern Park 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fern Park?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,103.48 per year.
How long do solar panels last in Fern Park?
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 larger level 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.