Solar Panel Cost Guide in Loxahatchee Groves, FL (2023 Update)
- Loxahatchee Groves Solar Installation Cost: $9,528
- 25-Year Savings: $19,631
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Loxahatchee Groves
Find out what the average cost of installing solar panels is in Loxahatchee Groves.
The average cost of a solar system in Loxahatchee Groves is 2.53 per watt. Using this figure, a typical 5.4-kW system would cost about $9,528 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with. With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Loxahatchee Groves find going solar can pay off big.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Loxahatchee Groves
| Year | Return on Investment |
|---|---|
| 1 years | $-8,362 |
| 3 years | $-6,029 |
| 5 years | $-3,696 |
| 7 years | $-1,364 |
| 9 years | $969 |
| 11 years | $3,302 |
| 13 years | $5,635 |
| 15 years | $7,967 |
| 17 years | $10,300 |
| 19 years | $12,633 |
| 21 years | $14,965 |
| 23 years | $17,298 |
| 25 years | $19,631 |
Top Solar Installers in Loxahatchee Groves
When switching to solar energy, many homeowners prefer to hire a solar company since installing solar panels yourself can be a difficult project. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
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 in Loxahatchee Groves:
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 Loxahatchee Groves
Factors that Affect Solar Panel Costs in Loxahatchee Groves
For many Loxahatchee Groves homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Loxahatchee Groves, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over 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 nearly $2,530. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Loxahatchee Groves, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Loxahatchee Groves, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can impact your pricing. Loxahatchee Groves' solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $21,458 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,894 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,471 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,191 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,052 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,054 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,199 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,485 | 7.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide high-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
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 Loxahatchee Groves, FL Solar Cost FAQs
What is the average cost of installing solar panels in Loxahatchee Groves?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Loxahatchee Groves?
You can't get solar panels for free in Loxahatchee Groves. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,083.63 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.