Solar Panel Cost Guide in Lake Belvedere Estates, FL (2023 Update)
- Lake Belvedere Estates 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 Lake Belvedere Estates
See how much it might cost to install solar panels in Lake Belvedere Estates.
In Lake Belvedere Estates, solar panels cost about 2.53 per watt on average. The average solar panel system size in Lake Belvedere Estates is around 5.4 kilowatts, meaning a cost of about $9,528 for a solar installation, or $13,625 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. Even with the high initial cost, the average Lake Belvedere Estates homeowner can save around $21,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lake Belvedere Estates
| 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 Lake Belvedere Estates
When going solar, many homeowners opt to hire a solar installer since putting up solar panels yourself can be a challenging project. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Belvedere Estates
Factors that Affect Solar Panel Costs in Lake Belvedere Estates
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Lake Belvedere Estates: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Lake Belvedere Estates, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,530 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating in Lake Belvedere Estates, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you want and also fits within your budget.
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
The solar panel company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Belvedere Estates, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake Belvedere Estates?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lake Belvedere Estates?
A solar panel system isn't free in Lake Belvedere Estates, 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 help lower the cost.
How will solar panels impact my home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go 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 how many solar panels you need, you should find out 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 household 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.