Solar Panel Cost Guide in Longboat Key, FL (2024 Update)
- Longboat Key Solar Installation Cost: $12,239
- 25-Year Savings: $19,512
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Longboat Key
We go over average solar pricing in Longboat Key.
While the national average of solar panels is $2.66 per watt, solar panels in Longboat Key generally cost about 3.The average Longboat Key homeowner needs a 5.4-kilowatt system, which would cost about $12,239 with the federal tax credit, or $17,502 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Longboat Key homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Longboat Key see about $20,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Longboat Key
| Year | Return on Investment |
|---|---|
| 1 years | $-10,865 |
| 3 years | $-8,118 |
| 5 years | $-5,371 |
| 7 years | $-2,623 |
| 9 years | $124 |
| 11 years | $2,871 |
| 13 years | $5,618 |
| 15 years | $8,365 |
| 17 years | $11,113 |
| 19 years | $13,860 |
| 21 years | $16,607 |
| 23 years | $19,354 |
| 25 years | $22,102 |
Top Solar Installers in Longboat Key
When going solar, many homeowners opt to use a solar company since putting up solar panels yourself can be a difficult project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can install solar panels for you. 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 Longboat Key
Factors that Affect Solar Panel Costs in Longboat Key
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Longboat Key: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production 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 $3,210.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Longboat Key is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services at different price points.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $3.34 | $14,021 | $18,099 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,492 | 10.7 years |
| 10 kW | $3.21 | $22,470 | $31,064 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,816 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,748 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,859 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $59,151 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,622 | 9.4 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Longboat Key, FL Solar Cost FAQs
What is the average cost of installing solar panels in Longboat Key?
The average cost of solar panels in Longboat Key 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Longboat Key?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback 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 maximize your savings.
How much can I save on energy bills after switching to solar?
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 $1,070.68 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.