Solar Panel Cost Guide in Lake Alfred, FL (2024 Update)
- Lake Alfred Solar Installation Cost: $12,358
- 25-Year Savings: $19,456
- Payback Period: 10.6 Years
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Average Cost of Solar Panels in Lake Alfred
We go over average solar pricing in Lake Alfred.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake Alfred typically cost about 3.The average Lake Alfred homeowner needs a 5.5-kilowatt system, which would cost about $12,358 with the federal tax credit, or $17,672 before the 0 tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely differ based on your energy needs and what company you go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
To receive a free estimate from a vetted solar company in Lake Alfred, you can click the button below.
Solar savings over time in Lake Alfred
| 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 Lake Alfred
Installing solar panels on your own can be a stressful project, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're on the hunt for a solar company in Lake Alfred, the EcoWatch team has put together a list of our top suggestions here:
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 Lake Alfred
Factors that Affect Solar Panel Costs in Lake Alfred
The cost of installing a solar system in Lake Alfred can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Lake Alfred, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.Although solar loans make going solar more accessible for Lake Alfred homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lake Alfred is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services at different price points.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, 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 | $3.34 | $14,021 | $17,830 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,132 | 10.8 years |
| 10 kW | $3.21 | $22,470 | $30,615 | 10.6 years |
| 12 kW | $3.15 | $26,425 | $37,277 | 10.4 years |
| 14 kW | $3.08 | $30,200 | $44,119 | 10.2 years |
| 16 kW | $3.02 | $33,795 | $51,141 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,342 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $65,723 | 9.5 years |
How to Save on Solar Panels
There are a large number of companies available in Lake Alfred, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. 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 be sure to peruse their list of options before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 Lake Alfred, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake Alfred?
The average cost of solar panels in Lake Alfred 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lake Alfred?
You can’t get solar panels for free in Lake Alfred. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Lake Alfred?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Lake Alfred?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.