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
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Loughman
Find out how much it might cost to make the switch to solar in Loughman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Loughman, the typical cost of a solar system is 3 per watt.The average solar panel system size in Loughman is around 5.5 kilowatts, meaning a cost of about $12,358 for a solar installation, or $17,672 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Loughman depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.With typical savings of about $26,000 on utility bills over 20 years, many homeowners in Loughman find going solar can pay off big.
Click the button below to get connected to a vetted solar installer in your area for a personalized quote.
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
When going solar, many homeowners decide to hire a solar installation company since putting up a solar system yourself can be a challenging project. Some solar installers, especially local ones, can help you make the most of incentives in Loughman, optimizing your ROI.
If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers nearby:
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 Loughman
Factors that Affect Solar Panel Costs in Loughman
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Loughman: 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 size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,210. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Loughman to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that 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 solar installer you choose will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.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 | $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
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, 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 signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
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 Loughman, FL Solar Cost FAQs
What is the average cost of installing solar panels in Loughman?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Loughman have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 install 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.