Solar Panel Cost Guide in Lakewood Park, FL (2024 Update)
- Lakewood Park Solar Installation Cost: $11,797
- 25-Year Savings: $20,616
- Payback Period: 9.9 Years
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Average Cost of Solar Panels in Lakewood Park
Let’s take a look at the average cost of solar in Lakewood Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lakewood Park, the average cost of a solar system is 3 per watt.The average Lakewood Park homeowner needs a 5.3-kilowatt system, which would cost about $11,797 with the federal tax credit, or $16,870 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.For many homeowners, the upfront cost of solar power is worth paying. On average Lakewood Park homeowners see about $22,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lakewood Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,424 |
| 3 years | $-7,676 |
| 5 years | $-4,929 |
| 7 years | $-2,182 |
| 9 years | $565 |
| 11 years | $3,313 |
| 13 years | $6,060 |
| 15 years | $8,807 |
| 17 years | $11,554 |
| 19 years | $14,302 |
| 21 years | $17,049 |
| 23 years | $19,796 |
| 25 years | $22,543 |
Top Solar Installers in Lakewood Park
Trying to put up solar panels yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Some solar installers, particularly local ones, can help you make the most of incentives in Lakewood Park, therefore optimizing your ROI.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Lakewood Park
Factors that Affect Solar Panel Costs in Lakewood Park
There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lakewood Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down 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. However, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Lakewood Park average.
Solar Financing Terms
Most solar installers in Lakewood Park have solar loans, which reduce your upfront costs of installing solar panels.Even though solar loans make adopting solar energy more accessible for Lakewood Park 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
A final consideration when trying to evaluate the cost of solar for your home or business in Lakewood Park is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Lakewood Park have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.34 | $14,021 | $20,164 | 10.3 years |
| 8 kW | $3.27 | $18,336 | $27,245 | 10.1 years |
| 10 kW | $3.21 | $22,470 | $34,506 | 9.9 years |
| 12 kW | $3.15 | $26,425 | $41,946 | 9.7 years |
| 14 kW | $3.08 | $30,200 | $49,567 | 9.5 years |
| 16 kW | $3.02 | $33,795 | $57,367 | 9.3 years |
| 18 kW | $2.95 | $37,210 | $65,346 | 9.1 years |
| 20 kW | $2.89 | $40,446 | $73,506 | 8.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Lakewood Park, FL Solar Cost FAQs
How much does it cost to install solar panels in Lakewood Park?
The average cost of solar panels in Lakewood 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 things like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Lakewood Park?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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.