Solar Panel Cost Guide in Olympia Heights, FL (2023 Update)
- Olympia Heights Solar Installation Cost: $9,469
- 25-Year Savings: $19,689
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Olympia Heights
We go over average solar pricing in Olympia Heights.
The average cost of a solar panel system in Olympia Heights is 2.53 per watt. Since a 5.3-kW system is needed to cover the energy needs of a typical home in Olympia Heights, the average price of going solar will be about $9,475 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Olympia Heights based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Olympia Heights find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar installer in Olympia Heights that can help you get a more accurate cost estimate for your home.
Solar savings over time in Olympia Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-8,096 |
| 3 years | $-5,348 |
| 5 years | $-2,601 |
| 7 years | $146 |
| 9 years | $2,893 |
| 11 years | $5,640 |
| 13 years | $8,388 |
| 15 years | $11,135 |
| 17 years | $13,882 |
| 19 years | $16,629 |
| 21 years | $19,377 |
| 23 years | $22,124 |
| 25 years | $24,871 |
Top Solar Installers in Olympia Heights
When going solar, many homeowners opt to hire a solar company since DIY solar panel installation can be a time-consuming project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar company too, which can save you more money over time.
If you're on the hunt for a solar installer in Olympia Heights, the EcoWatch team has organized a list of our top suggestions here:
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 Olympia Heights
Factors that Affect Solar Panel Costs in Olympia Heights
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Olympia Heights: 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,530. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Olympia Heights average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can influence the cost. Olympia Heights' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Olympia Heights are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $21,669 | 8.4 years |
| 8 kW | $2.58 | $14,451 | $29,175 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,823 | 8.1 years |
| 12 kW | $2.48 | $20,827 | $44,613 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,545 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,618 | 7.6 years |
| 18 kW | $2.33 | $29,328 | $68,832 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $77,189 | 7.3 years |
How to Save on Solar Panels
There are a lot of companies available in Olympia Heights, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: If you care about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Olympia Heights, FL Solar Cost FAQs
What is the average cost of installing solar panels in Olympia Heights?
This is a hard question to answer exactly, because the cost depends on a few different 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Olympia Heights?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably 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.