Solar Panel Cost Guide in Lynn Haven, FL (2023 Update)
- Lynn Haven Solar Installation Cost: $10,123
- 25-Year Savings: $24,546
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lynn Haven
Find out what the average cost of solar panels are in Lynn Haven.
In Lynn Haven, solar panels cost about 2.53 per watt on average. Using this figure, a typical 5.7-kW system would cost about $10,130 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely differ based on the amount of energy your home requires and what company you choose to go with. Despite the significant initial cost, the average Lynn Haven homeowner can save about $23,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Lynn Haven that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lynn Haven
| Year | Return on Investment |
|---|---|
| 1 years | $-10,008 |
| 3 years | $-9,776 |
| 5 years | $-9,545 |
| 7 years | $-9,314 |
| 9 years | $-9,083 |
| 11 years | $-8,852 |
| 13 years | $-8,621 |
| 15 years | $-8,390 |
| 17 years | $-8,159 |
| 19 years | $-7,928 |
| 21 years | $-7,696 |
| 23 years | $-7,465 |
| 25 years | $-7,234 |
Top Solar Installers in Lynn Haven
Although it's possible to install solar panels by yourself, it takes extra time and know-how. That's why most homeowners choose a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Lynn Haven
Factors that Affect Solar Panel Costs in Lynn Haven
Even though the average cost of a solar system in Lynn Haven is $10,130, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,530 per kilowatt in Lynn Haven. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Lynn Haven homeowners decide to finance their solar panel systems to make going solar more affordable. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact your pricing. Lynn Haven's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally 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 | $2.63 | $11,051 | $25,340 | 7.6 years |
| 8 kW | $2.58 | $14,451 | $34,070 | 7.4 years |
| 10 kW | $2.53 | $17,710 | $42,942 | 7.3 years |
| 12 kW | $2.48 | $20,827 | $51,955 | 7.2 years |
| 14 kW | $2.43 | $23,802 | $61,110 | 7.0 years |
| 16 kW | $2.38 | $26,636 | $70,407 | 6.9 years |
| 18 kW | $2.33 | $29,328 | $79,846 | 6.7 years |
| 20 kW | $2.28 | $31,878 | $89,426 | 6.6 years |
How to Save on Solar Panels
There are a lot of 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:
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project timeline.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Lynn Haven, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lynn Haven?
The average cost of solar panels in Lynn Haven 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider 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 consider are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.