Solar Panel Cost Guide in Pinewood, FL (2023 Update)
- Pinewood Solar Installation Cost: $9,512
- 25-Year Savings: $19,647
- Payback Period: 8.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Pinewood
Here's how much it might cost to switch to solar power in Pinewood.
Although the national average of solar panels is $2.66 per watt, solar panels in Pinewood generally cost around 2.53. The average solar panel system size in Pinewood is around 5.4 kilowatts, meaning a cost of about $9,510 for a solar installation, or $13,599 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will vary based on your specific situation and what company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Pinewood can save about $21,000 on their electricity bills over 20 years.
To get a free quote from a top solar installer in Pinewood, you can click the button below.
Solar savings over time in Pinewood
| Year | Return on Investment |
|---|---|
| 1 years | $-9,414 |
| 3 years | $-9,220 |
| 5 years | $-9,026 |
| 7 years | $-8,831 |
| 9 years | $-8,637 |
| 11 years | $-8,442 |
| 13 years | $-8,248 |
| 15 years | $-8,054 |
| 17 years | $-7,859 |
| 19 years | $-7,665 |
| 21 years | $-7,470 |
| 23 years | $-7,276 |
| 25 years | $-7,082 |
Top Solar Installers in Pinewood
Installing solar panels yourself can be a difficult project, which is why using a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Pinewood, the EcoWatch team has put together 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 Pinewood
Factors that Affect Solar Panel Costs in Pinewood
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Pinewood: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Pinewood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,530 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Pinewood, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Pinewood provide solar loans, which reduce your upfront costs of installing solar. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Pinewood, and each can charge varying amounts for labor and equipment. Additionally, some companies in Pinewood have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $21,524 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,981 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,581 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,322 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,205 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,230 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,396 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,704 | 7.3 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: If you're worried about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Pinewood, FL Solar Cost FAQs
How much does it cost to install solar panels in Pinewood?
The average cost of solar panels in Pinewood 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Pinewood?
Solar panels aren't free in Pinewood, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose 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 solar panels."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.