Solar Panel Cost Guide in Lely Resort, FL (2024 Update)
- Lely Resort 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 Resort
Let’s take a look at the average cost of solar panels in Lely Resort.
The average cost of solar panels in Lely Resort is 3 per watt.Because a 5.3-kW system is needed to cover the energy costs of a typical home in Lely Resort, the average price of going solar will be about $11,905 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Lely Resort homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $21,000 on energy bills over 20 years, many homeowners in Lely Resort find going solar can pay off big.
Click the button below to get connected to a vetted solar installer in Lely Resort for a personalized estimate.
Solar savings over time in Lely Resort
| 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 Resort
Although you can install solar panels by yourself, it takes extra labor and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lely Resort
Factors that Affect Solar Panel Costs in Lely Resort
There are many factors that can influence 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
One of the most significant 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,210 per kilowatt in Lely Resort.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Lely Resort homeowners choose to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Lely Resort, you’ll have a great number of 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 due to their larger brand name and access to bulk equipment prices, 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 | $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
Since the model of solar panels and the installer you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which installer you should choose, since different companies have different panels.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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 Lely Resort, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lely Resort?
The average cost of solar panels in Lely Resort 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lely Resort?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Lely Resort, 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?
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 larger amount 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.