Solar Panel Cost Guide in Lake Butler, FL (2023 Update)
- Lake Butler Solar Installation Cost: $9,687
- 25-Year Savings: $21,173
- Payback Period: 7.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lake Butler
We break down average solar pricing in Lake Butler.
The average cost of solar panels in Lake Butler is 2.53 per watt. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on factors unique to your home and what company you go with. With average savings of about $21,000 on power bills over 20 years, many homeowners in Lake Butler find going solar has a decent ROI.
You can click the button below to get connected with a top solar company in Lake Butler for a quote for your home.
Solar savings over time in Lake Butler
| Year | Return on Investment |
|---|---|
| 1 years | $-8,453 |
| 3 years | $-5,984 |
| 5 years | $-3,515 |
| 7 years | $-1,046 |
| 9 years | $1,423 |
| 11 years | $3,891 |
| 13 years | $6,360 |
| 15 years | $8,829 |
| 17 years | $11,298 |
| 19 years | $13,767 |
| 21 years | $16,236 |
| 23 years | $18,705 |
| 25 years | $21,173 |
Top Solar Installers in Lake Butler
When switching to solar energy, many homeowners choose to hire a solar company since putting up a solar system yourself can be a time-consuming project. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what type of solar equipment you need.
Working with a vetted solar installer can help your solar project go smoothly. 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 Lake Butler
Factors that Affect Solar Panel Costs in Lake Butler
The cost of installing a solar system in Lake Butler 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
The size of the solar system you need, 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 about $2,530. The kind of solar equipment you choose can increase or decrease your cost 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 electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Lake Butler average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lake Butler, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can play a part in determining the cost. Lake Butler's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger 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 | $2.63 | $11,051 | $22,772 | 8.2 years |
| 8 kW | $2.58 | $14,451 | $30,646 | 8.0 years |
| 10 kW | $2.53 | $17,710 | $38,662 | 7.9 years |
| 12 kW | $2.48 | $20,827 | $46,820 | 7.7 years |
| 14 kW | $2.43 | $23,802 | $55,119 | 7.5 years |
| 16 kW | $2.38 | $26,636 | $63,559 | 7.4 years |
| 18 kW | $2.33 | $29,328 | $72,142 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $80,866 | 7.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
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 Butler, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake Butler?
The average cost of solar panels in Lake Butler 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lake Butler?
Solar panels aren't free in Lake Butler, 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.
Is it worth going solar in Lake Butler?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.