Solar Panel Cost Guide in Wright, FL (2024 Update)
- Wright Solar Installation Cost: $13,054
- 25-Year Savings: $23,663
- Payback Period: 9.6 Years
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Average Cost of Solar Panels in Wright
Find out what the average cost of solar panels are in Wright.
The average cost of a solar panel system in Wright is 3 per watt.Because a 5.8-kW system is needed to cover the energy needs of a typical home in Wright, the average price of going solar will be about $13,054 after claiming the federal solar tax credit of 0.
These figures are only estimates, and your own solar costs will vary based on your specific situation and what company you want to go with.But, once you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $22,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar company in Wright that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wright
| Year | Return on Investment |
|---|---|
| 1 years | $-11,294 |
| 3 years | $-7,776 |
| 5 years | $-4,257 |
| 7 years | $-739 |
| 9 years | $2,780 |
| 11 years | $6,298 |
| 13 years | $9,817 |
| 15 years | $13,335 |
| 17 years | $16,854 |
| 19 years | $20,372 |
| 21 years | $23,891 |
| 23 years | $27,409 |
| 25 years | $30,928 |
Top Solar Installers in Wright
When switching to solar energy, many homeowners prefer to hire a solar installation company since installing solar panels yourself can be a challenging project. The payback period of solar panels will vary based on factors like your roof configuration and energy needs, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you're searching for a solar company in Wright, the EcoWatch team has compiled 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 Wright
Factors that Affect Solar Panel Costs in Wright
There are a number of criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Wright average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence how much you pay. Wright’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Wright have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $21,044 | 10.0 years |
| 8 kW | $3.27 | $18,336 | $28,418 | 9.8 years |
| 10 kW | $3.21 | $22,470 | $35,972 | 9.6 years |
| 12 kW | $3.15 | $26,425 | $43,706 | 9.4 years |
| 14 kW | $3.08 | $30,200 | $51,619 | 9.2 years |
| 16 kW | $3.02 | $33,795 | $59,713 | 9.0 years |
| 18 kW | $2.95 | $37,210 | $67,986 | 8.8 years |
| 20 kW | $2.89 | $40,446 | $76,438 | 8.7 years |
How to Save on Solar Panels
There are a lot of 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:
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
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 Wright, FL Solar Cost FAQs
How much does it cost to install solar panels in Wright?
The average cost of solar panels in Wright is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Wright?
You can’t get solar panels for free in Wright. However, you may still be able to install 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.
Do solar panels increase your home value?
Solar panels can increase your property’s value 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 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 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.