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
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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.
These figures are only averages, and the cost of going solar for you will most likely look different based on factors unique to your home and what company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $21,000 over 20 years on electricity bills.
To calculate your potential ROI 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
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make converting to solar power much easier. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in Three Lakes, we've organized a list of our top suggestions here:
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 Three Lakes
Factors that Affect Solar Panel Costs in Three Lakes
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Three Lakes: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over 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 key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,210.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Three Lakes average.
Solar Financing Terms
Most solar installers in Three Lakes offer solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Three Lakes’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Reputation: Companies that have been operating 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 adequate aftercare and customer service, such as part repairs and replacements.
- 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 plays a role in which solar panel brands you have access to.
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 Three Lakes, FL Solar Cost FAQs
How much does it cost to install solar panels in Three Lakes?
The average cost of solar panels in Three Lakes 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t opt 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."
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.