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.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With typical savings of about $21,000 on energy bills over 20 years, many homeowners in Inwood find investing in solar can pay off big.
To see your potential ROI and connect with a local solar installer, click the button below.
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
Many homeowners decide to hire a solar installer since installing solar panels yourself can be a labor-intensive endeavor. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Inwood
Factors that Affect Solar Panel Costs in Inwood
The cost of installing a solar system in Inwood can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,210. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Inwood average.
Solar Financing Terms
Most solar companies in Inwood provide solar loans, which reduce your upfront costs of installing a solar system.When figuring out 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 solar panel installer you select will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Inwood have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should choose, since different companies have access to different panels.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Well-established companies likely have a good 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: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Inwood, FL Solar Cost FAQs
What is the average cost of installing 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 actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Inwood?
A solar panel system isn’t free in Inwood, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact how much my 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.