Solar Panel Cost Guide in University, FL (2024 Update)
- University Solar Installation Cost: $12,394
- 25-Year Savings: $18,177
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in University
Find out how much it might cost to make the switch to solar in University.
The average cost of a solar panel system in University is 3 per watt.The average solar panel system size in University is around 5.5 kilowatts, meaning a cost of about $12,394 for a solar installation, or $17,723 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will differ based on the amount of energy your home requires and what company you want to go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in University
| Year | Return on Investment |
|---|---|
| 1 years | $-10,889 |
| 3 years | $-7,879 |
| 5 years | $-4,868 |
| 7 years | $-1,858 |
| 9 years | $1,152 |
| 11 years | $4,163 |
| 13 years | $7,173 |
| 15 years | $10,183 |
| 17 years | $13,193 |
| 19 years | $16,204 |
| 21 years | $19,214 |
| 23 years | $22,224 |
| 25 years | $25,234 |
Top Solar Installers in University
Installing solar panels on your own can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers near you:
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 University
Factors that Affect Solar Panel Costs in University
While the average cost of a solar system in University is $12,394, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,210. The model of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in University to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.While solar loans make switching to solar energy more accessible for University homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in University is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $16,378 | 11.5 years |
| 8 kW | $3.27 | $18,336 | $22,196 | 11.3 years |
| 10 kW | $3.21 | $22,470 | $28,195 | 11.1 years |
| 12 kW | $3.15 | $26,425 | $34,373 | 10.9 years |
| 14 kW | $3.08 | $30,200 | $40,731 | 10.6 years |
| 16 kW | $3.02 | $33,795 | $47,269 | 10.4 years |
| 18 kW | $2.95 | $37,210 | $53,986 | 10.2 years |
| 20 kW | $2.89 | $40,446 | $60,883 | 10.0 years |
How to Save on Solar Panels
The solar panel company you go with will affect 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 some important things you should consider, such as:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 University, FL Solar Cost FAQs
How much does it cost to install solar panels in University?
This is a hard question to answer exactly, because the cost depends on many 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in University?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Does University have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.