Solar Panel Cost Guide in Southwest Ranches, FL (2023 Update)
- Southwest Ranches Solar Installation Cost: $9,528
- 25-Year Savings: $21,013
- Payback Period: 7.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Southwest Ranches
We go over average solar pricing in Southwest Ranches.
The national average cost of solar panels is $2.66 per watt, but in Southwest Ranches it's 2.53 per watt. The average solar panel system size in Southwest Ranches is around 5.4 kilowatts, meaning a cost of about $9,528 for a solar installation, or $13,625 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you go with. Despite the high initial cost, the average Southwest Ranches homeowner can save around $22,000 on their energy bills over 20 years, which is one of the perks of solar.
To receive a free quote from a top solar company in Southwest Ranches, you can click the button below.
Solar savings over time in Southwest Ranches
| Year | Return on Investment |
|---|---|
| 1 years | $-8,306 |
| 3 years | $-5,863 |
| 5 years | $-3,420 |
| 7 years | $-977 |
| 9 years | $1,467 |
| 11 years | $3,910 |
| 13 years | $6,353 |
| 15 years | $8,796 |
| 17 years | $11,240 |
| 19 years | $13,683 |
| 21 years | $16,126 |
| 23 years | $18,569 |
| 25 years | $21,013 |
Top Solar Installers in Southwest Ranches
Although you can install solar panels yourself, it requires extra time and know-how. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for you.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Southwest Ranches
Factors that Affect Solar Panel Costs in Southwest Ranches
Even though the average cost of a solar system in Southwest Ranches is $9,528, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,530. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Southwest Ranches, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Southwest Ranches homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Southwest Ranches is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also fit into 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 | $2.63 | $11,051 | $23,023 | 8.1 years |
| 8 kW | $2.58 | $14,451 | $30,981 | 8.0 years |
| 10 kW | $2.53 | $17,710 | $39,080 | 7.8 years |
| 12 kW | $2.48 | $20,827 | $47,321 | 7.6 years |
| 14 kW | $2.43 | $23,802 | $55,704 | 7.5 years |
| 16 kW | $2.38 | $26,636 | $64,228 | 7.3 years |
| 18 kW | $2.33 | $29,328 | $72,894 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $81,702 | 7.0 years |
How to Save on Solar Panels
The company that does your solar panel 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 difficult, we have some tips to help you, such as:
- Contract: When reading through your solar installer'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 part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
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 Southwest Ranches, FL Solar Cost FAQs
How much does it cost to install solar panels in Southwest Ranches?
The average cost of solar panels in Southwest Ranches is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Southwest Ranches?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Southwest Ranches is currently $474,018, so you can expect a value of about $19,435 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Southwest Ranches is a worthwhile 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 needs and the amount of 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 install 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.