Solar Panel Cost Guide in River Park, FL (2023 Update)
- River Park Solar Installation Cost: $9,298
- 25-Year Savings: $19,861
- Payback Period: 8.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in River Park
We break down average solar pricing in River Park.
While the national average of solar panels is $2.66 per watt, solar panels in River Park generally cost about 2.53. Since a 5.2-kW system is needed to cover the energy needs of a typical home in River Park, the average price of going solar will be about $9,298 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average River Park homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar company in River Park for a customized estimate.
Solar savings over time in River Park
| Year | Return on Investment |
|---|---|
| 1 years | $-8,131 |
| 3 years | $-5,799 |
| 5 years | $-3,466 |
| 7 years | $-1,133 |
| 9 years | $1,199 |
| 11 years | $3,532 |
| 13 years | $5,865 |
| 15 years | $8,198 |
| 17 years | $10,530 |
| 19 years | $12,863 |
| 21 years | $15,196 |
| 23 years | $17,528 |
| 25 years | $19,861 |
Top Solar Installers in River Park
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a difficult project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in River Park:
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 River Park
Factors that Affect Solar Panel Costs in River Park
For many River Park homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in River Park, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 spend about $2,530 per kilowatt in River Park. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like River Park, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in River Park have solar loans, which reduce your upfront costs of installing solar. Although solar loans make going solar more accessible for River Park homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a part in determining the cost. River Park's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $22,272 | 8.3 years |
| 8 kW | $2.58 | $14,451 | $29,979 | 8.1 years |
| 10 kW | $2.53 | $17,710 | $37,828 | 8.0 years |
| 12 kW | $2.48 | $20,827 | $45,818 | 7.8 years |
| 14 kW | $2.43 | $23,802 | $53,951 | 7.7 years |
| 16 kW | $2.38 | $26,636 | $62,224 | 7.5 years |
| 18 kW | $2.33 | $29,328 | $70,640 | 7.3 years |
| 20 kW | $2.28 | $31,878 | $79,197 | 7.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to install plays a part in which installer you should opt for, since different companies provide different panels.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project completion timeline.
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 River Park, FL Solar Cost FAQs
What is the average cost of installing solar panels in River Park?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in River Park?
Solar panels aren't free in River Park, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in River Park is currently $161,872, so you can expect a value of about $6,637 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in River Park is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.