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.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake Sarasota generally cost around 3.The average Lake Sarasota homeowner needs a 5.4-kilowatt system, which would cost about $12,178 with the federal tax credit, or $17,415 before the 0 tax credit is applied.
These figures are just estimates, and the cost of going solar for you will differ based on your specific situation and what company you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Lake Sarasota can save around $21,000 on their energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
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
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make switching to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar installer in Lake Sarasota, the EcoWatch team has organized a list of our top suggestions here:
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
Best for Leasing
Sunrun
- 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 Sarasota
Factors that Affect Solar Panel Costs in Lake Sarasota
There are several factors that can play into 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
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.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 over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Lake Sarasota average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
There are many companies available in Lake Sarasota, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which company you should choose, since different companies have access to different panels.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely 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 if there are any guarantees about energy production.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lake Sarasota?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lake Sarasota, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide 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.