Solar Panel Cost Guide in Lake Park, FL (2024 Update)

  • Lake Park Solar Installation Cost: $12,093
  • 25-Year Savings: $19,628
  • Payback Period: 10.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Park

Find out what the average cost of a solar system is in Lake Park.

In Lake Park, solar panels cost about 3 per watt on average.Because a 5.4-kW system is needed to cover the energy consumption of a typical home in Lake Park, the average price of going solar will be about $12,093 after claiming the federal solar tax credit of 0.

Bear in mind that the figures above are only estimates based on the average Lake Park homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Lake Park see about $21,000 in savings on energy bills over 20 years.

Click the button below to get connected to a vetted solar company in Lake Park for a personalized quote.

Solar savings over time in Lake Park

Year Return on Investment
1 years $-10,719
3 years $-7,972
5 years $-5,224
7 years $-2,477
9 years $270
11 years $3,017
13 years $5,765
15 years $8,512
17 years $11,259
19 years $14,006
21 years $16,753
23 years $19,501
25 years $22,248

Top Solar Installers in Lake Park

Installing solar panels on your own can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.

You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Lake Park:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Park

Factors that Affect Solar Panel Costs in Lake Park

There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Lake Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The type 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. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Lake Park average.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The last significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Lake Park, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 $18,488 10.8 years
8 kW $3.27 $18,336 $25,010 10.6 years
10 kW $3.21 $22,470 $31,711 10.4 years
12 kW $3.15 $26,425 $38,593 10.2 years
14 kW $3.08 $30,200 $45,654 10.0 years
16 kW $3.02 $33,795 $52,895 9.7 years
18 kW $2.95 $37,210 $60,316 9.5 years
20 kW $2.89 $40,446 $67,917 9.3 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
  • Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Lake Park, FL Solar Cost FAQs

How much does it cost to install solar panels in Lake Park?

The average cost of solar panels in Lake Park 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 certain factors like the model 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 Park?

You can’t get solar panels for free in Lake Park. 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’d rather own your solar panels, you can finance them with a solar loan.

Can you sell solar power back to the grid in Lake Park?

The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

On average, solar panels can last 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.

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