Solar Panel Cost Guide in Warm Mineral Springs, FL (2023 Update)
- Warm Mineral Springs Solar Installation Cost: $9,598
- 25-Year Savings: $19,561
- Payback Period: 8.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Warm Mineral Springs
Let's take a look at the average cost of solar in Warm Mineral Springs.
In Warm Mineral Springs, solar panels cost about 2.53 per watt on average. Since a 5.4-kW system is needed to cover the energy usage of a typical home in Warm Mineral Springs, the average price of going solar will be about $9,599 after claiming the federal solar tax credit of 30%.
These figures are just averages, and the cost of going solar for you will look different based on your energy needs and what company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on power bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Warm Mineral Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-9,501 |
| 3 years | $-9,306 |
| 5 years | $-9,112 |
| 7 years | $-8,918 |
| 9 years | $-8,723 |
| 11 years | $-8,529 |
| 13 years | $-8,334 |
| 15 years | $-8,140 |
| 17 years | $-7,946 |
| 19 years | $-7,751 |
| 21 years | $-7,557 |
| 23 years | $-7,362 |
| 25 years | $-7,168 |
Top Solar Installers in Warm Mineral Springs
When making the switch to solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a challenging project. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our recommendations for providers in Warm Mineral Springs:
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 Warm Mineral Springs
Factors that Affect Solar Panel Costs in Warm Mineral Springs
The cost of installing a solar system in Warm Mineral Springs can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require 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 $2,530. The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, 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
Many homeowners find the average cost of solar in Warm Mineral Springs to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Warm Mineral Springs, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have 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 | $2.63 | $11,051 | $21,230 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,591 | 8.4 years |
| 10 kW | $2.53 | $17,710 | $36,093 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $43,736 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $51,521 | 7.9 years |
| 16 kW | $2.38 | $26,636 | $59,448 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $67,517 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $75,727 | 7.4 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which company you should go with, since different companies offer different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- 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 the warranty covers and if there are any guarantees about energy production.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Warm Mineral Springs, FL Solar Cost FAQs
What is the average cost of installing solar panels in Warm Mineral Springs?
This is a difficult 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Warm Mineral Springs?
You can't get solar panels for free in Warm Mineral Springs. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Warm Mineral Springs, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Warm Mineral Springs?
On average, solar panels can last 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 larger level 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.