Solar Panel Cost Guide in Lighthouse Point, FL (2023 Update)
- Lighthouse Point Solar Installation Cost: $9,524
- 25-Year Savings: $19,635
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lighthouse Point
Let's have a look at the average cost of solar panels in Lighthouse Point.
In Lighthouse Point, solar panels cost about 2.53 per watt on average. The average Lighthouse Point homeowner needs a 5.4-kilowatt system, which would cost about $9,528 with the federal tax credit, or $13,625 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Lighthouse Point find installing solar panels can pay off big.
Click the button below to get connected to a vetted solar company in Lighthouse Point for a custom quote.
Solar savings over time in Lighthouse Point
| Year | Return on Investment |
|---|---|
| 1 years | $-8,150 |
| 3 years | $-5,403 |
| 5 years | $-2,656 |
| 7 years | $91 |
| 9 years | $2,839 |
| 11 years | $5,586 |
| 13 years | $8,333 |
| 15 years | $11,080 |
| 17 years | $13,827 |
| 19 years | $16,575 |
| 21 years | $19,322 |
| 23 years | $22,069 |
| 25 years | $24,816 |
Top Solar Installers in Lighthouse Point
Putting up solar panels on your own can be a challenging task, which is why getting a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're looking for a solar company in Lighthouse Point, the EcoWatch team has put together a list of our top suggestions here:
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 Lighthouse Point
Factors that Affect Solar Panel Costs in Lighthouse Point
There are a number of criteria that can determine your total 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
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,530. 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 choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Lighthouse Point average.
Solar Financing Terms
Most solar companies in Lighthouse Point offer solar loans, which reduce your upfront costs of installing solar panels. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect your pricing. Lighthouse Point's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lighthouse Point are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $2.63 | $11,051 | $21,481 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,925 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,510 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,237 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,106 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,117 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,269 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,562 | 7.3 years |
How to Save on Solar Panels
There are numerous companies available in Lighthouse Point, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by verifying 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.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly 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: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
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 Lighthouse Point, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lighthouse Point?
The average cost of solar panels in Lighthouse Point is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lighthouse Point?
You can't get solar panels for free in Lighthouse Point. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,084.40 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 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.