Solar Panel Cost Guide in Greenacres, FL (2023 Update)
- Greenacres Solar Installation Cost: $9,531
- 25-Year Savings: $19,628
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Greenacres
Let's take a look at the average cost of solar panels in Greenacres.
While the national average of solar panels is $2.66 per watt, solar panels in Greenacres typically cost about 2.53. To account for the typical energy usage of the average home in Greenacres, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,528, or $13,625 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Greenacres based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With average savings of about $21,000 on power bills over 20 years, many homeowners in Greenacres find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar company in Greenacres that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenacres
| Year | Return on Investment |
|---|---|
| 1 years | $-9,434 |
| 3 years | $-9,239 |
| 5 years | $-9,045 |
| 7 years | $-8,850 |
| 9 years | $-8,656 |
| 11 years | $-8,462 |
| 13 years | $-8,267 |
| 15 years | $-8,073 |
| 17 years | $-7,878 |
| 19 years | $-7,684 |
| 21 years | $-7,490 |
| 23 years | $-7,295 |
| 25 years | $-7,101 |
Top Solar Installers in Greenacres
Putting up solar panels on your own can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Another perk of working with a solar company is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Greenacres
Factors that Affect Solar Panel Costs in Greenacres
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Greenacres: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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 kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Greenacres average.
Solar Financing Terms
Most solar installers in Greenacres provide solar loans, which reduce the initial cost of installing solar. When figuring 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
The remaining major cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Greenacres, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $2.63 | $11,051 | $21,458 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,894 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,471 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,191 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,052 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,054 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,199 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,485 | 7.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: If you care about the longevity of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been in business for many years 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 quality aftercare and customer support, such as part repairs and replacements.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
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 Greenacres, FL Solar Cost FAQs
What is the average cost of installing solar panels in Greenacres?
The average cost of solar panels in Greenacres is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Greenacres?
A solar panel system isn't free in Greenacres, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,083.63 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.