Solar Panel Cost Guide in Lake Clarke Shores, FL (2023 Update)
- Lake Clarke Shores Solar Installation Cost: $9,531
- 25-Year Savings: $17,602
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lake Clarke Shores
Let's have a look at the average cost of solar panels in Lake Clarke Shores.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Clarke Shores, the typical cost of solar panels is 2.53 per watt. The average Lake Clarke Shores homeowner needs a 5.4-kilowatt system, which would cost about $9,528 with the federal tax credit, or $13,625 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more. With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Lake Clarke Shores find investing in solar can be quite rewarding.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Lake Clarke Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-9,440 |
| 3 years | $-9,260 |
| 5 years | $-9,079 |
| 7 years | $-8,898 |
| 9 years | $-8,717 |
| 11 years | $-8,536 |
| 13 years | $-8,355 |
| 15 years | $-8,174 |
| 17 years | $-7,993 |
| 19 years | $-7,813 |
| 21 years | $-7,632 |
| 23 years | $-7,451 |
| 25 years | $-7,270 |
Top Solar Installers in Lake Clarke Shores
Although you can install solar panels yourself, it involves extra energy and handiness. For that reason, almost all homeowners choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for you.
There are several licensed solar professionals that can install solar panels for you. 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 Clarke Shores
Factors that Affect Solar Panel Costs in Lake Clarke Shores
The cost of installing a solar system in Lake Clarke Shores can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,530. The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, 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 for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Clarke Shores to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest. Although solar loans make going solar more accessible for Lake Clarke Shores homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Lake Clarke Shores, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Lake Clarke Shores are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $2.63 | $11,051 | $19,200 | 9.1 years |
| 8 kW | $2.58 | $14,451 | $25,883 | 9.0 years |
| 10 kW | $2.53 | $17,710 | $32,708 | 8.8 years |
| 12 kW | $2.48 | $20,827 | $39,675 | 8.6 years |
| 14 kW | $2.43 | $23,802 | $46,783 | 8.4 years |
| 16 kW | $2.38 | $26,636 | $54,033 | 8.3 years |
| 18 kW | $2.33 | $29,328 | $61,424 | 8.1 years |
| 20 kW | $2.28 | $31,878 | $68,958 | 7.9 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 cost.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Clarke Shores, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake Clarke Shores?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lake Clarke Shores, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.