Solar Panel Cost Guide in Three Lakes, FL (2024 Update)
- Three Lakes Solar Installation Cost: $11,989
- 25-Year Savings: $19,709
- Payback Period: 10.3 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 Three Lakes
We break down average solar pricing in Three Lakes.
The average cost of a solar panel system in Three Lakes is 3 per watt.The average Three Lakes homeowner needs a 5.3-kilowatt system, which would cost about $11,989 with the federal tax credit, or $17,144 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Three Lakes 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.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Three Lakes find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Three Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,616 |
| 3 years | $-7,868 |
| 5 years | $-5,121 |
| 7 years | $-2,374 |
| 9 years | $373 |
| 11 years | $3,121 |
| 13 years | $5,868 |
| 15 years | $8,615 |
| 17 years | $11,362 |
| 19 years | $14,110 |
| 21 years | $16,857 |
| 23 years | $19,604 |
| 25 years | $22,351 |
Top Solar Installers in Three Lakes
When making the switch to solar, many homeowners opt to go with a solar installation company since putting up a solar system yourself can be a time-consuming project. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar installer in Three Lakes, the EcoWatch team has organized a list of our top suggestions here:
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 Three Lakes
Factors that Affect Solar Panel Costs in Three Lakes
For many Three Lakes homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Three Lakes, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems 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 that have greater efficiency or power generation 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.There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency 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
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Three Lakes homeowners decide to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Three Lakes, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $18,768 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,383 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $32,178 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $39,153 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $46,308 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,643 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $61,157 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,851 | 9.3 years |
How to Save on Solar Panels
Since the brand 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 tips to keep in mind to help with your decision:
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
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 Three Lakes, FL Solar Cost FAQs
What is the average cost of installing solar panels in Three Lakes?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose 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 a solar system."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.