Solar Panel Cost Guide in Meadow Woods, FL (2023 Update)
- Meadow Woods Solar Installation Cost: $9,695
- 25-Year Savings: $22,552
- Payback Period: 7.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Meadow Woods
We break down average solar pricing in Meadow Woods.
In Meadow Woods, solar panels cost about 2.53 per watt on average. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Meadow Woods homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $22,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Meadow Woods
| Year | Return on Investment |
|---|---|
| 1 years | $-7,920 |
| 3 years | $-4,371 |
| 5 years | $-821 |
| 7 years | $2,728 |
| 9 years | $6,278 |
| 11 years | $9,827 |
| 13 years | $13,377 |
| 15 years | $16,927 |
| 17 years | $20,476 |
| 19 years | $24,026 |
| 21 years | $27,575 |
| 23 years | $31,125 |
| 25 years | $34,674 |
Top Solar Installers in Meadow Woods
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of an installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Meadow Woods:
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 Meadow Woods
Factors that Affect Solar Panel Costs in Meadow Woods
The cost of installing a solar system in Meadow Woods can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much 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 time, but they can also be a big investment. That's why many Meadow Woods homeowners decide to finance their solar panel systems to offset upfront costs. 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 interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Meadow Woods is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services at different price points. Additionally, some companies in Meadow Woods have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $24,292 | 7.8 years |
| 8 kW | $2.58 | $14,451 | $32,673 | 7.7 years |
| 10 kW | $2.53 | $17,710 | $41,195 | 7.5 years |
| 12 kW | $2.48 | $20,827 | $49,859 | 7.4 years |
| 14 kW | $2.43 | $23,802 | $58,665 | 7.2 years |
| 16 kW | $2.38 | $26,636 | $67,612 | 7.1 years |
| 18 kW | $2.33 | $29,328 | $76,701 | 6.9 years |
| 20 kW | $2.28 | $31,878 | $85,932 | 6.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the 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 things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- 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.
- Installation Process: When making the switch to solar, it's essential to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
- Contract: Before you sign a contract with a solar company, 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 the warranty covers and if there are any guarantees about energy production.
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 Meadow Woods, FL Solar Cost FAQs
What is the average cost of installing solar panels in Meadow Woods?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient 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 cheaper solar panels.
Is it better to lease or buy solar panels in Meadow Woods?
Leasing solar panels can be an attractive choice, because it commonly 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 get the most savings.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Meadow Woods is currently $227,100, which means you could be looking at a value of about $9,311 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Meadow Woods is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 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.