Solar Panel Cost Guide in Lake Sarasota, FL (2024 Update)
- Lake Sarasota Solar Installation Cost: $12,178
- 25-Year Savings: $20,790
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Lake Sarasota
Find out what the average cost of a solar system is in Lake Sarasota.
The average cost of a solar system in Lake Sarasota is 3 per watt.Because a 5.4-kW system is needed to cover the energy usage of a typical home in Lake Sarasota, the average price of going solar will be about $12,178 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Lake Sarasota find going solar has a decent ROI.
Click the button below to get connected to a top solar installer in Lake Sarasota for a custom quote.
Solar savings over time in Lake Sarasota
| Year | Return on Investment |
|---|---|
| 1 years | $-10,804 |
| 3 years | $-8,057 |
| 5 years | $-5,310 |
| 7 years | $-2,562 |
| 9 years | $185 |
| 11 years | $2,932 |
| 13 years | $5,679 |
| 15 years | $8,427 |
| 17 years | $11,174 |
| 19 years | $13,921 |
| 21 years | $16,668 |
| 23 years | $19,416 |
| 25 years | $22,163 |
Top Solar Installers in Lake Sarasota
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your switch to solar power much easier. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Lake Sarasota:
Best National Provider
SunPower
- 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
- 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 Sarasota
Factors that Affect Solar Panel Costs in Lake Sarasota
Though the average cost of a solar system in Lake Sarasota is $12,178, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Lake Sarasota homeowners opt to finance their solar panel systems to make paying for solar more affordable.Although solar loans make adopting solar energy more accessible for Lake Sarasota homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lake Sarasota is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different price points.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $19,621 | 10.4 years |
| 8 kW | $3.27 | $18,336 | $26,521 | 10.2 years |
| 10 kW | $3.21 | $22,470 | $33,600 | 10.0 years |
| 12 kW | $3.15 | $26,425 | $40,859 | 9.8 years |
| 14 kW | $3.08 | $30,200 | $48,298 | 9.6 years |
| 16 kW | $3.02 | $33,795 | $55,917 | 9.4 years |
| 18 kW | $2.95 | $37,210 | $63,716 | 9.2 years |
| 20 kW | $2.89 | $40,446 | $71,694 | 9.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
Best National Provider
SunPower
- 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
- 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 Sarasota, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lake Sarasota?
The average cost of solar panels in Lake Sarasota 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Lake Sarasota?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,121.40 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.