Solar Panel Cost Guide in Springfield, FL (2024 Update)
- Springfield Solar Installation Cost: $12,844
- 25-Year Savings: $25,133
- Payback Period: 9.1 Years
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Average Cost of Solar Panels in Springfield
We go over average solar pricing in Springfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Springfield, the typical cost of a solar system is 3 per watt.Using this figure, a typical 5.7-kW system would cost about $12,844 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely differ based on your specific situation and what company you choose to go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $23,000 over 20 years on electricity bills.
To get a free estimate from a pre-vetted solar installer in Springfield, you can click the button below.
Solar savings over time in Springfield
Year | Return on Investment |
---|---|
1 years | $-11,006 |
3 years | $-7,330 |
5 years | $-3,654 |
7 years | $22 |
9 years | $3,698 |
11 years | $7,373 |
13 years | $11,049 |
15 years | $14,725 |
17 years | $18,401 |
19 years | $22,077 |
21 years | $25,753 |
23 years | $29,429 |
25 years | $33,105 |
Top Solar Installers in Springfield
Although you can install solar panels yourself, it involves extra energy and expertise. For that reason, almost all homeowners choose to hire a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Springfield:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Springfield: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.The type of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Springfield to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Springfield 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 walking you through the whole process. 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 | $22,986 | 9.5 years |
8 kW | $3.27 | $18,336 | $31,007 | 9.3 years |
10 kW | $3.21 | $22,470 | $39,208 | 9.1 years |
12 kW | $3.15 | $26,425 | $47,589 | 8.9 years |
14 kW | $3.08 | $30,200 | $56,150 | 8.7 years |
16 kW | $3.02 | $33,795 | $64,890 | 8.6 years |
18 kW | $2.95 | $37,210 | $73,811 | 8.4 years |
20 kW | $2.89 | $40,446 | $82,911 | 8.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you’re concerned about the endurance of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
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 Springfield, FL Solar Cost FAQs
What is the average cost of installing solar panels in Springfield?
The average cost of solar panels in Springfield is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for 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 solar panels."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.