Solar Panel Cost Guide in Inwood, FL (2024 Update)
- Inwood Solar Installation Cost: $12,358
- 25-Year Savings: $18,776
- Payback Period: 10.8 Years
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Average Cost of Solar Panels in Inwood
We break down average solar pricing in Inwood.
In Inwood, solar panels cost about 3 per watt on average.Using this figure, a typical 5.5-kW system would cost about $12,358 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Inwood homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Inwood find going solar can pay off big.
You can click the button below to get connected with a vetted solar installer in Inwood for a quote for your home.
Solar savings over time in Inwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,733 |
| 3 years | $-7,483 |
| 5 years | $-4,233 |
| 7 years | $-983 |
| 9 years | $2,267 |
| 11 years | $5,516 |
| 13 years | $8,766 |
| 15 years | $12,016 |
| 17 years | $15,266 |
| 19 years | $18,516 |
| 21 years | $21,766 |
| 23 years | $25,016 |
| 25 years | $28,266 |
Top Solar Installers in Inwood
When making the switch to solar, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a time-consuming project. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in Inwood, we've 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
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 Inwood
Factors that Affect Solar Panel Costs in Inwood
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Inwood: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,210 per kilowatt in Inwood.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Inwood, where sunlight is abundant, efficiency can quickly pay off. Plus, 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Inwood, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, 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 opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Inwood, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $17,088 | 11.3 years |
| 8 kW | $3.27 | $18,336 | $23,143 | 11.1 years |
| 10 kW | $3.21 | $22,470 | $29,378 | 10.8 years |
| 12 kW | $3.15 | $26,425 | $35,793 | 10.6 years |
| 14 kW | $3.08 | $30,200 | $42,388 | 10.4 years |
| 16 kW | $3.02 | $33,795 | $49,162 | 10.2 years |
| 18 kW | $2.95 | $37,210 | $56,116 | 10.0 years |
| 20 kW | $2.89 | $40,446 | $63,250 | 9.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives 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
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 Inwood, FL Solar Cost FAQs
How much does it cost to install solar panels in Inwood?
The average cost of solar panels in Inwood is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Inwood?
Solar panels aren’t free in Inwood, 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 can further reduce the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.