Solar Panel Cost Guide in Live Oak, FL (Mar 2023)
- Live Oak Solar Installation Cost: $10,219
- 25-Year Savings: $22,208
- Payback Period: 7.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Live Oak
Find out what the average cost of solar panels are in Live Oak.
In Live Oak, solar panels cost about 2.53 per watt on average. Using this figure, a typical 5.8-kW system would cost about $10,219 before the 30% federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Live Oak based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a fruitful investment. The average homeowner in Live Oak can save about $21,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Live Oak that can help you get a more accurate cost estimate for your home.
Solar savings over time in Live Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-8,922 |
| 3 years | $-6,327 |
| 5 years | $-3,733 |
| 7 years | $-1,139 |
| 9 years | $1,455 |
| 11 years | $4,049 |
| 13 years | $6,643 |
| 15 years | $9,238 |
| 17 years | $11,832 |
| 19 years | $14,426 |
| 21 years | $17,020 |
| 23 years | $19,614 |
| 25 years | $22,208 |
Top Solar Installers in Live Oak
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be a lot of work. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers in Live Oak:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Live Oak
Factors that Affect Solar Panel Costs in Live Oak
The cost of installing a solar system in Live Oak can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,530 per kilowatt in Live Oak. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Live Oak to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. While solar loans make switching to solar energy more accessible for Live Oak homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Live Oak, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $22,689 | 8.2 years |
| 8 kW | $2.58 | $14,451 | $30,536 | 8.0 years |
| 10 kW | $2.53 | $17,710 | $38,524 | 7.9 years |
| 12 kW | $2.48 | $20,827 | $46,654 | 7.7 years |
| 14 kW | $2.43 | $23,802 | $54,925 | 7.6 years |
| 16 kW | $2.38 | $26,636 | $63,339 | 7.4 years |
| 18 kW | $2.33 | $29,328 | $71,894 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $80,590 | 7.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably 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:
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Warranty: If you're worried about the longevity of your solar system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Live Oak, FL Solar Cost FAQs
How much does it cost to install solar panels in Live Oak?
The average cost of solar panels in Live Oak is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Live Oak?
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 can't take advantage of 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 savings from going solar.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Live Oak is currently $112,932, so you can look forward to a value of about $4,630 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Live Oak is a rewarding investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.