Solar Panel Cost Guide in The Hammocks, FL (2024 Update)
- The Hammocks Solar Installation Cost: $12,003
- 25-Year Savings: $19,432
- Payback Period: 10.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in The Hammocks
See how much it might cost to install solar panels in The Hammocks.
The average cost of a solar panel system in The Hammocks is 3 per watt.The average solar panel system size in The Hammocks is around 5.3 kilowatts, meaning a cost of about $12,003 for a solar installation, or $17,164 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs may differ based on your specific situation and what company you want to go with.Many homeowners find going solar is a rewarding investment. The average homeowner in The Hammocks can save about $21,000 on their electricity bills over 20 years.
To receive a free estimate from a highly rated solar installer in The Hammocks, you can click the button below.
Solar savings over time in The Hammocks
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,882 |
| 5 years | $-5,135 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,107 |
| 13 years | $5,854 |
| 15 years | $8,601 |
| 17 years | $11,348 |
| 19 years | $14,096 |
| 21 years | $16,843 |
| 23 years | $19,590 |
| 25 years | $22,337 |
Top Solar Installers in The Hammocks
Many homeowners opt for a solar installer since trying to install solar panels on your own can be hard. Another great thing about choosing a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers in The Hammocks:
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 The Hammocks
Factors that Affect Solar Panel Costs in The Hammocks
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in The Hammocks: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, 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 about $3,210. The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to think 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in The Hammocks have solar loans, which reduce the initial cost of installing a solar system.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in The Hammocks, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $18,431 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,934 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,617 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,480 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,522 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,745 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $60,147 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,728 | 9.3 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
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 The Hammocks, FL Solar Cost FAQs
What is the average cost of installing solar panels in The Hammocks?
This is a hard question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in The Hammocks?
Solar panels aren’t free in The Hammocks, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will having solar panels impact the value of my 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 The Hammocks is currently $507,172, which means you can expect a value of about $20,794 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in The Hammocks is a rewarding investment.
How many solar panels do I need 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 buy 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.