Solar Panel Cost Guide in Richmond West, FL (2024 Update)
- Richmond West Solar Installation Cost: $11,985
- 25-Year Savings: $19,446
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Richmond West
Find out what the average cost of a solar system is in Richmond West.
The national average cost of solar panels is $2.66 per watt, but in Richmond West it’s 3 per watt.Using this figure, a typical 5.3-kW system would cost about $11,985 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 based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Richmond West for a quote for your home.
Solar savings over time in Richmond West
| Year | Return on Investment |
|---|---|
| 1 years | $-10,612 |
| 3 years | $-7,865 |
| 5 years | $-5,117 |
| 7 years | $-2,370 |
| 9 years | $377 |
| 11 years | $3,124 |
| 13 years | $5,872 |
| 15 years | $8,619 |
| 17 years | $11,366 |
| 19 years | $14,113 |
| 21 years | $16,861 |
| 23 years | $19,608 |
| 25 years | $22,355 |
Top Solar Installers in Richmond West
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make your swap to solar power much easier. Plus, if you’re unsure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Richmond West, the EcoWatch team has compiled a list of our top suggestions here:
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 Richmond West
Factors that Affect Solar Panel Costs in Richmond West
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Richmond West: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,210. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Richmond West, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Richmond West is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $18,479 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,998 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,697 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,576 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,634 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,873 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,291 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,888 | 9.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
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 Richmond West, FL Solar Cost FAQs
How much does it cost to install solar panels in Richmond West?
The average cost of solar panels in Richmond West 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Richmond West?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Richmond West have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 cover 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.