Solar Panel Cost Guide in Loughman, FL (2024 Update)
- Loughman Solar Installation Cost: $12,358
- 25-Year Savings: $25,386
- Payback Period: 8.8 Years
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Average Cost of Solar Panels in Loughman
Find out how much it might cost to make the switch to solar in Loughman.
The average cost of a solar panel system in Loughman is 3 per watt.Using this figure, a typical 5.5-kW system would cost about $12,358 before the 0 federal solar tax credit is applied.
The actual price you pay can go above or below the average in Loughman depending on a few factors, such as the model of solar panels you choose and the solar company you hire.With average savings of about $26,000 on electricity bills over 20 years, many homeowners in Loughman find investing in solar can be quite rewarding.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Loughman
| Year | Return on Investment |
|---|---|
| 1 years | $-10,583 |
| 3 years | $-7,034 |
| 5 years | $-3,484 |
| 7 years | $65 |
| 9 years | $3,615 |
| 11 years | $7,164 |
| 13 years | $10,714 |
| 15 years | $14,264 |
| 17 years | $17,813 |
| 19 years | $21,363 |
| 21 years | $24,912 |
| 23 years | $28,462 |
| 25 years | $32,011 |
Top Solar Installers in Loughman
Many homeowners opt for a solar installation company since trying to install solar panels yourself can be a lot of work. Another perk of going with a solar company is that they can help you make the most of your investment by bringing down your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Loughman
Factors that Affect Solar Panel Costs in Loughman
Although the average cost of a solar system in Loughman is $12,358, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,210. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Loughman, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route 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 financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Loughman is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $3.34 | $14,021 | $24,299 | 9.1 years |
| 8 kW | $3.27 | $18,336 | $32,758 | 9.0 years |
| 10 kW | $3.21 | $22,470 | $41,397 | 8.8 years |
| 12 kW | $3.15 | $26,425 | $50,215 | 8.6 years |
| 14 kW | $3.08 | $30,200 | $59,214 | 8.4 years |
| 16 kW | $3.02 | $33,795 | $68,392 | 8.3 years |
| 18 kW | $2.95 | $37,210 | $77,750 | 8.1 years |
| 20 kW | $2.89 | $40,446 | $87,287 | 7.9 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: If you’re worried about the longevity of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Loughman, FL Solar Cost FAQs
What is the average cost of installing solar panels in Loughman?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does Loughman have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.