Solar Panel Cost Guide in Sanford, FL (2024 Update)
- Sanford Solar Installation Cost: $12,566
- 25-Year Savings: $20,836
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Sanford
Find out what the average cost of a solar system is in Sanford.
While the national average of solar panels is $2.66 per watt, solar panels in Sanford generally cost about 3.The average Sanford homeowner needs a 5.6-kilowatt system, which would cost about $12,566 with the federal tax credit, or $17,969 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Sanford homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high upfront cost, the average Sanford homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a pre-vetted solar company in Sanford, you can click the button below.
Solar savings over time in Sanford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,192 |
| 3 years | $-8,445 |
| 5 years | $-5,698 |
| 7 years | $-2,950 |
| 9 years | $-203 |
| 11 years | $2,544 |
| 13 years | $5,291 |
| 15 years | $8,039 |
| 17 years | $10,786 |
| 19 years | $13,533 |
| 21 years | $16,280 |
| 23 years | $19,027 |
| 25 years | $21,775 |
Top Solar Installers in Sanford
Although you can install solar panels by yourself, it involves extra labor and handiness. Because of that, most people choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your family.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Sanford
Factors that Affect Solar Panel Costs in Sanford
While the average cost of a solar system in Sanford is $12,566, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,210. The brand of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Sanford to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Sanford, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Sanford are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.34 | $14,021 | $18,960 | 10.6 years |
| 8 kW | $3.27 | $18,336 | $25,639 | 10.4 years |
| 10 kW | $3.21 | $22,470 | $32,498 | 10.2 years |
| 12 kW | $3.15 | $26,425 | $39,537 | 10.0 years |
| 14 kW | $3.08 | $30,200 | $46,756 | 9.8 years |
| 16 kW | $3.02 | $33,795 | $54,155 | 9.6 years |
| 18 kW | $2.95 | $37,210 | $61,733 | 9.4 years |
| 20 kW | $2.89 | $40,446 | $69,491 | 9.2 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:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Sanford, FL Solar Cost FAQs
What is the average cost of installing solar panels in Sanford?
This is a difficult question to answer precisely, 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, 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 Sanford?
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 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 bang for your buck from going solar.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Sanford is currently $342,955, so you could be looking at a value of about $14,061 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Sanford is a fruitful investment.
How many solar panels should I get to power 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 take a 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 get between 20 and 35 panels to account for 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.