Solar Panel Cost Guide in River Park, FL (2024 Update)
- River Park Solar Installation Cost: $11,797
- 25-Year Savings: $19,861
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in River Park
Find out how much it might cost to make the switch to solar in River Park.
While the national average of solar panels is $2.66 per watt, solar panels in River Park generally cost around 3.Because a 5.3-kW system is needed to cover the energy costs of a typical home in River Park, the average price of going solar will be about $11,797 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of River Park homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the large upfront cost, the average River Park homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in River Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,424 |
| 3 years | $-7,676 |
| 5 years | $-4,929 |
| 7 years | $-2,182 |
| 9 years | $565 |
| 11 years | $3,313 |
| 13 years | $6,060 |
| 15 years | $8,807 |
| 17 years | $11,554 |
| 19 years | $14,302 |
| 21 years | $17,049 |
| 23 years | $19,796 |
| 25 years | $22,543 |
Top Solar Installers in River Park
Trying to install solar panels on your own can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 River Park
Factors that Affect Solar Panel Costs in River Park
While the average cost of a solar system in River Park is $11,797, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in River Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,210 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to 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 important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in River Park 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 provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $19,301 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,095 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $33,068 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,221 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,553 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $55,065 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,758 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,629 | 9.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 good reviews from previous customers.
- Contract: Look through the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
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 River Park, FL Solar Cost FAQs
What is the average cost of installing solar panels in River Park?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in River Park?
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 can’t take advantage of 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.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,110.75 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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.