Solar Panel Cost Guide in Wright, FL (Feb 2023)
- Wright Solar Installation Cost: $10,290
- 25-Year Savings: $23,662
- Payback Period: 7.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Wright
Find out how much it might cost to switch to solar power in Wright.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wright, the average cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Wright, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,290, or $7,615 after the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Wright homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the large upfront cost, the average Wright homeowner can save about $22,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a pre-vetted solar company in Wright, you can click the button below.
Solar savings over time in Wright
| Year | Return on Investment |
|---|---|
| 1 years | $-8,931 |
| 3 years | $-6,215 |
| 5 years | $-3,499 |
| 7 years | $-783 |
| 9 years | $1,933 |
| 11 years | $4,649 |
| 13 years | $7,365 |
| 15 years | $10,082 |
| 17 years | $12,798 |
| 19 years | $15,514 |
| 21 years | $18,230 |
| 23 years | $20,946 |
| 25 years | $23,662 |
Top Solar Installers in Wright
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your location and energy needs, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're on the hunt for a solar company in Wright, the EcoWatch team has put together 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 (coming 2022)
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
While the average cost of a solar system in Wright is $10,290, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar panel 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 nearly $2,530. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Wright to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. Although solar loans make adopting solar energy more accessible for Wright homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Wright, and each can charge varying amounts for labor and equipment. Larger national companies generally 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 additional 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 | $24,014 | 7.9 years |
| 8 kW | $2.58 | $14,451 | $32,302 | 7.7 years |
| 10 kW | $2.53 | $17,710 | $40,732 | 7.6 years |
| 12 kW | $2.48 | $20,827 | $49,304 | 7.4 years |
| 14 kW | $2.43 | $23,802 | $58,017 | 7.3 years |
| 16 kW | $2.38 | $26,636 | $66,872 | 7.1 years |
| 18 kW | $2.33 | $29,328 | $75,868 | 7.0 years |
| 20 kW | $2.28 | $31,878 | $85,006 | 6.8 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies have different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
What is the average cost of installing solar panels in Wright?
This is a difficult question to answer exactly, 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Wright?
You can't get solar panels for free in Wright. However, you may still be able to get 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 energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,168.84 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.