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 May 20, 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.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Park, the typical cost of solar panels is 3 per watt.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.

These figures are just estimates, and how much solar costs for you will most likely differ based on your energy needs and what company you choose to go with.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Lake Park find going solar can be quite rewarding.

For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Lake Park

YearReturn 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

Putting up solar panels by yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Also, if you’d like to maximize your investment in solar, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.

If you're searching for a solar company in Lake Park, the EcoWatch team has put together a list of our top suggestions here:

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

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Lake Park

Factors that Affect Solar Panel Costs in Lake Park

The cost of installing a solar system in Lake Park can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

When it comes to estimating the price 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 largely based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,210 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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. Additionally, extra products, like solar batteries, can bump up your total well above the Lake Park average.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Lake Park homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.

Solar Panel Installation Company

The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Lake Park, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.34$14,021$18,48810.8 years
8 kW$3.27$18,336$25,01010.6 years
10 kW$3.21$22,470$31,71110.4 years
12 kW$3.15$26,425$38,59310.2 years
14 kW$3.08$30,200$45,65410.0 years
16 kW$3.02$33,795$52,8959.7 years
18 kW$2.95$37,210$60,3169.5 years
20 kW$2.89$40,446$67,9179.3 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • 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.
  • Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
  • Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.

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

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lake Park, FL Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Lake Park?

Solar panels aren’t free in Lake Park, 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 further reduce the cost.

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

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

How long do solar panels last in Lake Park?

Although 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.