Solar Panel Cost Guide in Rio Pinar, FL (2023 Update)
- Rio Pinar Solar Installation Cost: $9,687
- 25-Year Savings: $22,560
- Payback Period: 7.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Rio Pinar
Find out what the average cost of installing solar panels is in Rio Pinar.
While the national average of solar panels is $2.66 per watt, solar panels in Rio Pinar generally cost around 2.53. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Rio Pinar depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Rio Pinar can save about $22,000 on their energy bills over 20 years.
To receive a free estimate from a top solar installer in Rio Pinar, you can click the button below.
Solar savings over time in Rio Pinar
| Year | Return on Investment |
|---|---|
| 1 years | $-8,397 |
| 3 years | $-5,818 |
| 5 years | $-3,238 |
| 7 years | $-658 |
| 9 years | $1,922 |
| 11 years | $4,501 |
| 13 years | $7,081 |
| 15 years | $9,661 |
| 17 years | $12,241 |
| 19 years | $14,821 |
| 21 years | $17,400 |
| 23 years | $19,980 |
| 25 years | $22,560 |
Top Solar Installers in Rio Pinar
When making the switch to solar, many homeowners prefer to hire a solar company since overseeing your solar installation yourself can be a time-consuming project. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Rio Pinar
Factors that Affect Solar Panel Costs in Rio Pinar
Even though the average cost of a solar system in Rio Pinar is $9,687, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,530 per kilowatt in Rio Pinar. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than 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 researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Rio Pinar is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
There are many companies available in Rio Pinar, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- 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 expectations you should have about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: If you care about the longevity of your solar panel system, checking if your installer 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 Rio Pinar, FL Solar Cost FAQs
How much does it cost to install solar panels in Rio Pinar?
This is a hard question to answer exactly, 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Rio Pinar?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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.
Do solar panels increase your property value?
Solar panels can increase your property's 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 a solar system."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 household 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.