Solar Panel Cost Guide in Goldenrod, FL (2024 Update)
- Goldenrod Solar Installation Cost: $12,432
- 25-Year Savings: $20,980
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Goldenrod
We go over average solar pricing in Goldenrod.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Goldenrod, the typical cost of solar panels is 3 per watt.The average solar panel system size in Goldenrod is around 5.5 kilowatts, meaning a cost of about $12,432 for a solar installation, or $17,778 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the large initial cost, the average Goldenrod homeowner can save about $21,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Goldenrod
| Year | Return on Investment |
|---|---|
| 1 years | $-10,791 |
| 3 years | $-7,509 |
| 5 years | $-4,227 |
| 7 years | $-945 |
| 9 years | $2,338 |
| 11 years | $5,620 |
| 13 years | $8,902 |
| 15 years | $12,184 |
| 17 years | $15,466 |
| 19 years | $18,748 |
| 21 years | $22,030 |
| 23 years | $25,312 |
| 25 years | $28,595 |
Top Solar Installers in Goldenrod
When going solar, many homeowners prefer to hire a solar installer since overseeing your solar installation yourself can be a time-consuming project. Also, if you’d like to maximize your investment in solar power, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
You can get a free estimate from a local solar installer on the cost of solar panels 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 Goldenrod
Factors that Affect Solar Panel Costs in Goldenrod
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Goldenrod: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $3,210 per kilowatt in Goldenrod.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Goldenrod, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited 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
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Goldenrod, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Goldenrod know more 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 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 | $19,357 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,169 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $33,160 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,332 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,683 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $55,214 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,924 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,815 | 9.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Goldenrod, FL Solar Cost FAQs
What is the average cost of installing solar panels in Goldenrod?
This is a tough question to answer exactly, 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 higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Goldenrod, that will require at least a 10-kW system. Not all homes 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 often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.