Solar Panel Cost Guide in Lely, FL (2024 Update)
- Lely Solar Installation Cost: $11,905
- 25-Year Savings: $19,377
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Lely
See how much it might cost to install solar panels in Lely.
Although the national average of solar panels is $2.66 per watt, solar panels in Lely generally cost about 3.To account for the typical energy needs of the average home in Lely, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs about $11,905, or $17,024 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 a solar panel system. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find installing a solar system is a sound investment. The average homeowner in Lely can save about $21,000 on their energy bills over 20 years.
To receive a free estimate from a vetted solar installer in Lely, you can click the button below.
Solar savings over time in Lely
| Year | Return on Investment |
|---|---|
| 1 years | $-10,531 |
| 3 years | $-7,784 |
| 5 years | $-5,037 |
| 7 years | $-2,289 |
| 9 years | $458 |
| 11 years | $3,205 |
| 13 years | $5,952 |
| 15 years | $8,700 |
| 17 years | $11,447 |
| 19 years | $14,194 |
| 21 years | $16,941 |
| 23 years | $19,688 |
| 25 years | $22,436 |
Top Solar Installers in Lely
Many homeowners opt for a solar installer since installing solar panels yourself can be a labor-intensive endeavor. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can help you install your solar system. 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 Lely
Factors that Affect Solar Panel Costs in Lely
For many Lely homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Lely, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $3,210 per kilowatt in Lely.The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lely to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you select will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk 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 | $18,549 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,091 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,814 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,716 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,797 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,059 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,500 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,121 | 9.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: If you’re worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar companies 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 opt for.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
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 Lely, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lely?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Lely?
Leasing solar panels can be an appealing choice, because it typically 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 option if you want to get the most savings.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Lely, 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?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.