Solar Panel Cost Guide in Tamarac, FL (2023 Update)
- Tamarac Solar Installation Cost: $9,528
- 25-Year Savings: $19,631
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tamarac
Let's take a look at the average cost of solar panels in Tamarac.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tamarac, the average cost of a solar system is 2.53 per watt. The average solar panel system size in Tamarac 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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Tamarac find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar installer in Tamarac for a quote for your home.
Solar savings over time in Tamarac
| Year | Return on Investment |
|---|---|
| 1 years | $-8,362 |
| 3 years | $-6,029 |
| 5 years | $-3,696 |
| 7 years | $-1,364 |
| 9 years | $969 |
| 11 years | $3,302 |
| 13 years | $5,635 |
| 15 years | $7,967 |
| 17 years | $10,300 |
| 19 years | $12,633 |
| 21 years | $14,965 |
| 23 years | $17,298 |
| 25 years | $19,631 |
Top Solar Installers in Tamarac
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make converting to solar power much easier. The expertise that solar companies provide can be useful as well, particularly if you don't quite know what brand of solar equipment you need.
There are various licensed solar professionals that can install solar panels for you. 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 Tamarac
Factors that Affect Solar Panel Costs in Tamarac
The cost of installing a solar system in Tamarac can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,530. The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Tamarac to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Tamarac, you'll have many options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $21,481 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,925 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,510 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,237 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,106 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,117 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,269 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,562 | 7.3 years |
How to Save on Solar Panels
Since the model of solar panels and the 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:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Tamarac, FL Solar Cost FAQs
What is the average cost of installing solar panels in Tamarac?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Tamarac?
A solar panel system isn't free in Tamarac, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will solar panels impact how much my home is worth?
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 Tamarac is currently $179,833, so you could be looking at a value of about $7,373 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Tamarac is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.