Solar Panel Cost Guide in Lauderdale-by-the-Sea, FL (2024 Update)
- Lauderdale-by-the-Sea Solar Installation Cost: $12,084
- 25-Year Savings: $19,635
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Lauderdale-by-the-Sea
We go over average solar pricing in Lauderdale-by-the-Sea.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lauderdale-by-the-Sea, the average cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in Lauderdale-by-the-Sea, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $12,084, or $17,280 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Lauderdale-by-the-Sea see about $21,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Lauderdale-by-the-Sea for a custom quote.
Solar savings over time in Lauderdale-by-the-Sea
| Year | Return on Investment |
|---|---|
| 1 years | $-10,710 |
| 3 years | $-7,963 |
| 5 years | $-5,216 |
| 7 years | $-2,469 |
| 9 years | $279 |
| 11 years | $3,026 |
| 13 years | $5,773 |
| 15 years | $8,520 |
| 17 years | $11,268 |
| 19 years | $14,015 |
| 21 years | $16,762 |
| 23 years | $19,509 |
| 25 years | $22,257 |
Top Solar Installers in Lauderdale-by-the-Sea
Installing solar panels by yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lauderdale-by-the-Sea
Factors that Affect Solar Panel Costs in Lauderdale-by-the-Sea
The cost of installing a solar system in Lauderdale-by-the-Sea can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Lauderdale-by-the-Sea, one of the most crucial 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 determine by looking at past energy bills. Your total cost can increase by around $3,210 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Lauderdale-by-the-Sea homeowners choose to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 discount can bring their pricing lower 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 | $18,511 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,041 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,750 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,640 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,709 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $52,957 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,386 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,994 | 9.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- 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 significant role in the company you choose.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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 Lauderdale-by-the-Sea, FL Solar Cost FAQs
How much does it cost to install solar panels in Lauderdale-by-the-Sea?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.