Solar Panel Cost Guide in Goldenrod, FL (2023 Update)
- Goldenrod Solar Installation Cost: $9,798
- 25-Year Savings: $20,980
- Payback Period: 8.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Goldenrod
We break down average solar pricing in Goldenrod.
Although the national average of solar panels is $2.66 per watt, solar panels in Goldenrod generally cost about 2.53. The average Goldenrod homeowner needs a 5.5-kilowatt system, which would cost about $9,794 with the federal tax credit, or $14,005 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Goldenrod
| Year | Return on Investment |
|---|---|
| 1 years | $-8,157 |
| 3 years | $-4,875 |
| 5 years | $-1,593 |
| 7 years | $1,689 |
| 9 years | $4,971 |
| 11 years | $8,253 |
| 13 years | $11,535 |
| 15 years | $14,818 |
| 17 years | $18,100 |
| 19 years | $21,382 |
| 21 years | $24,664 |
| 23 years | $27,946 |
| 25 years | $31,228 |
Top Solar Installers in Goldenrod
Trying to put up solar panels by yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you make the most of incentives in Goldenrod, thereby optimizing your ROI.
If you're on the hunt for a solar installer in Goldenrod, the EcoWatch team has organized a list of our top suggestions here:
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 Goldenrod
Factors that Affect Solar Panel Costs in Goldenrod
The cost of installing a solar system in Goldenrod can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different 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 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. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence the cost. Goldenrod'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 because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $22,327 | 8.3 years |
| 8 kW | $2.58 | $14,451 | $30,053 | 8.1 years |
| 10 kW | $2.53 | $17,710 | $37,920 | 8.0 years |
| 12 kW | $2.48 | $20,827 | $45,929 | 7.8 years |
| 14 kW | $2.43 | $23,802 | $54,080 | 7.6 years |
| 16 kW | $2.38 | $26,636 | $62,373 | 7.5 years |
| 18 kW | $2.33 | $29,328 | $70,807 | 7.3 years |
| 20 kW | $2.28 | $31,878 | $79,383 | 7.2 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Goldenrod, FL Solar Cost FAQs
How much does it cost to install solar panels in Goldenrod?
This is a tough question to answer exactly, because the cost depends on a variety of 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 above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Goldenrod is currently $224,774, which means you could be looking at a value of about $9,216 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Goldenrod is a worthwhile investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having 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.