Solar Panel Cost Guide in Minneola, FL (2024 Update)
- Minneola Solar Installation Cost: $12,571
- 25-Year Savings: $24,123
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Minneola
Let’s have a look at the average cost of solar panels in Minneola.
Although the national average of solar panels is $2.66 per watt, solar panels in Minneola generally cost about 3.Using this figure, a typical 5.6-kW system would cost about $12,571 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. 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 company you go with.With typical savings of about $24,000 on utility bills over 20 years, many homeowners in Minneola find investing in solar can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Minneola
| Year | Return on Investment |
|---|---|
| 1 years | $-10,797 |
| 3 years | $-7,247 |
| 5 years | $-3,697 |
| 7 years | $-148 |
| 9 years | $3,402 |
| 11 years | $6,951 |
| 13 years | $10,501 |
| 15 years | $14,050 |
| 17 years | $17,600 |
| 19 years | $21,150 |
| 21 years | $24,699 |
| 23 years | $28,249 |
| 25 years | $31,798 |
Top Solar Installers in Minneola
Although it's possible to install solar panels by yourself, it takes extra labor and know-how. That's one of the reasons most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Minneola
Factors that Affect Solar Panel Costs in Minneola
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Minneola: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Minneola, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,210 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Minneola homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting 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 | $22,475 | 9.6 years |
| 8 kW | $3.27 | $18,336 | $30,326 | 9.4 years |
| 10 kW | $3.21 | $22,470 | $38,357 | 9.2 years |
| 12 kW | $3.15 | $26,425 | $46,568 | 9.1 years |
| 14 kW | $3.08 | $30,200 | $54,958 | 8.9 years |
| 16 kW | $3.02 | $33,795 | $63,528 | 8.7 years |
| 18 kW | $2.95 | $37,210 | $72,278 | 8.5 years |
| 20 kW | $2.89 | $40,446 | $81,208 | 8.3 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar companies have 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.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Minneola, FL Solar Cost FAQs
How much does it cost to install solar panels in Minneola?
The average cost of solar panels in Minneola is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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.