Solar Panel Cost Guide in Gifford, FL (2023 Update)
- Gifford Solar Installation Cost: $9,422
- 25-Year Savings: $20,842
- Payback Period: 7.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gifford
Let's take a look at the average cost of solar panels in Gifford.
While the national average of solar panels is $2.66 per watt, solar panels in Gifford generally cost around 2.53. Because a 5.3-kW system is needed to cover the energy needs of a typical home in Gifford, the average price of going solar will be about $9,422 after claiming the federal solar tax credit of 30%.
The true price you pay can go higher or lower than the average in Gifford based on several factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Gifford see about $22,000 in savings on energy bills over 20 years.
To get a free estimate from a top solar installation company in Gifford, you can click the button below.
Solar savings over time in Gifford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,211 |
| 3 years | $-5,790 |
| 5 years | $-3,369 |
| 7 years | $-948 |
| 9 years | $1,473 |
| 11 years | $3,894 |
| 13 years | $6,316 |
| 15 years | $8,737 |
| 17 years | $11,158 |
| 19 years | $13,579 |
| 21 years | $16,000 |
| 23 years | $18,421 |
| 25 years | $20,842 |
Top Solar Installers in Gifford
When switching to solar energy, many homeowners choose to use a solar installation company since overseeing your solar installation yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Gifford
Factors that Affect Solar Panel Costs in Gifford
For many Gifford homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Gifford, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,530. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Gifford homeowners decide to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the total 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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Gifford is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $23,050 | 8.1 years |
| 8 kW | $2.58 | $14,451 | $31,017 | 7.9 years |
| 10 kW | $2.53 | $17,710 | $39,125 | 7.8 years |
| 12 kW | $2.48 | $20,827 | $47,375 | 7.6 years |
| 14 kW | $2.43 | $23,802 | $55,767 | 7.5 years |
| 16 kW | $2.38 | $26,636 | $64,300 | 7.3 years |
| 18 kW | $2.33 | $29,328 | $72,975 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $81,792 | 7.0 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. 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 options before deciding.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Gifford, FL Solar Cost FAQs
What is the average cost of installing solar panels in Gifford?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Gifford?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 savings from going solar.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Gifford, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Gifford?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.