Solar Panel Cost Guide in Lochmoor Waterway Estates, FL (2023 Update)
- Lochmoor Waterway Estates Solar Installation Cost: $9,461
- 25-Year Savings: $19,432
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lochmoor Waterway Estates
We go over average solar pricing in Lochmoor Waterway Estates.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lochmoor Waterway Estates, the average cost of solar panels is 2.53 per watt. Using this figure, a typical 5.3-kW system would cost about $9,457 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with. Even with the high upfront cost, the average Lochmoor Waterway Estates homeowner can save around $21,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a vetted solar installation company in Lochmoor Waterway Estates, you can click the button below.
Solar savings over time in Lochmoor Waterway Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-8,087 |
| 3 years | $-5,340 |
| 5 years | $-2,593 |
| 7 years | $154 |
| 9 years | $2,902 |
| 11 years | $5,649 |
| 13 years | $8,396 |
| 15 years | $11,143 |
| 17 years | $13,891 |
| 19 years | $16,638 |
| 21 years | $19,385 |
| 23 years | $22,132 |
| 25 years | $24,880 |
Top Solar Installers in Lochmoor Waterway Estates
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make swapping over to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
There are a number of licensed solar professionals that can help you install your solar system. 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
See all of the solar companies in Lochmoor Waterway Estates
Factors that Affect Solar Panel Costs in Lochmoor Waterway Estates
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require 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 $2,530. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Lochmoor Waterway Estates homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Lochmoor Waterway Estates, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that offers the products, warranties and services you want and also is within your budget.
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 | $21,400 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,816 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,374 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,074 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $51,916 | 7.9 years |
| 16 kW | $2.38 | $26,636 | $59,899 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,024 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,291 | 7.4 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. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Though reading through a contract can be tedious, 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.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The type of solar panel you need plays a part in which installer you should choose, since different companies have different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
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 Lochmoor Waterway Estates, FL Solar Cost FAQs
How much does it cost to install solar panels in Lochmoor Waterway Estates?
The average cost of solar panels in Lochmoor Waterway Estates 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Lochmoor Waterway Estates?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.