Solar Panel Cost Guide in Wilton Manors, FL (2023 Update)
- Wilton Manors Solar Installation Cost: $9,524
- 25-Year Savings: $19,635
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wilton Manors
Find out how much it might cost to make the switch to solar in Wilton Manors.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wilton Manors, the average cost of a solar system is 2.53 per watt. Using this figure, a typical 5.4-kW system would cost about $9,528 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Wilton Manors can save around $21,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Wilton Manors
| Year | Return on Investment |
|---|---|
| 1 years | $-8,150 |
| 3 years | $-5,403 |
| 5 years | $-2,656 |
| 7 years | $91 |
| 9 years | $2,839 |
| 11 years | $5,586 |
| 13 years | $8,333 |
| 15 years | $11,080 |
| 17 years | $13,827 |
| 19 years | $16,575 |
| 21 years | $19,322 |
| 23 years | $22,069 |
| 25 years | $24,816 |
Top Solar Installers in Wilton Manors
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make converting to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Wilton Manors
Factors that Affect Solar Panel Costs in Wilton Manors
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Wilton Manors: 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 $2,530. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Wilton Manors, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $2.63 | $11,051 | $21,481 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,925 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,510 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,237 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,106 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,117 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,269 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,562 | 7.3 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 select the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: If you're concerned about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The model of solar panel you'd like plays a role in which company you should opt for, since different companies have access to different panels.
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 Wilton Manors, FL Solar Cost FAQs
What is the average cost of installing solar panels in Wilton Manors?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 be more expensive if you want other solar equipment or more efficient 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.
Should I lease or buy solar panels in Wilton Manors?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is making the switch to solar worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 house 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.