Solar Panel Cost Guide in Lecanto, FL (2024 Update)
- Lecanto Solar Installation Cost: $12,573
- 25-Year Savings: $23,137
- Payback Period: 9.5 Years
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Average Cost of Solar Panels in Lecanto
We go over average solar pricing in Lecanto.
Although the national average of solar panels is $2.66 per watt, solar panels in Lecanto generally cost about 3.Using this figure, a typical 5.6-kW system would cost about $12,573 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Lecanto based on a few factors, such as the type of solar panels you choose and the solar installer you hire.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Lecanto see about $24,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lecanto
| Year | Return on Investment |
|---|---|
| 1 years | $-10,798 |
| 3 years | $-7,248 |
| 5 years | $-3,699 |
| 7 years | $-149 |
| 9 years | $3,400 |
| 11 years | $6,950 |
| 13 years | $10,499 |
| 15 years | $14,049 |
| 17 years | $17,599 |
| 19 years | $21,148 |
| 21 years | $24,698 |
| 23 years | $28,247 |
| 25 years | $31,797 |
Top Solar Installers in Lecanto
Trying to install solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Lecanto
Factors that Affect Solar Panel Costs in Lecanto
There are many criteria that can influence your total 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 panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production 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.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Lecanto, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Lecanto homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Lecanto, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $21,415 | 9.9 years |
| 8 kW | $3.27 | $18,336 | $28,913 | 9.7 years |
| 10 kW | $3.21 | $22,470 | $36,590 | 9.5 years |
| 12 kW | $3.15 | $26,425 | $44,448 | 9.3 years |
| 14 kW | $3.08 | $30,200 | $52,485 | 9.1 years |
| 16 kW | $3.02 | $33,795 | $60,702 | 8.9 years |
| 18 kW | $2.95 | $37,210 | $69,098 | 8.8 years |
| 20 kW | $2.89 | $40,446 | $77,675 | 8.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose greatly affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
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 Lecanto, FL Solar Cost FAQs
How much does it cost to install solar panels in Lecanto?
The average cost of solar panels in Lecanto 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lecanto is currently $346,304, which means you can look forward to a value of about $14,198 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lecanto is a rewarding investment.
How long do solar panels last in Lecanto?
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 higher 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.