Solar Panel Cost Guide in Lake Alfred, FL (2024 Update)
- Lake Alfred Solar Installation Cost: $12,358
- 25-Year Savings: $19,456
- Payback Period: 10.6 Years
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Average Cost of Solar Panels in Lake Alfred
We go over average solar pricing in Lake Alfred.
The national average cost of solar panels is $2.66 per watt, but in Lake Alfred it’s 3 per watt.The average solar panel system size in Lake Alfred is around 5.5 kilowatts, meaning a cost of about $12,358 for a solar installation, or $17,672 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Lake Alfred depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Lake Alfred see about $21,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in Lake Alfred for a quote for your home.
Solar savings over time in Lake Alfred
| Year | Return on Investment |
|---|---|
| 1 years | $-10,733 |
| 3 years | $-7,483 |
| 5 years | $-4,233 |
| 7 years | $-983 |
| 9 years | $2,267 |
| 11 years | $5,516 |
| 13 years | $8,766 |
| 15 years | $12,016 |
| 17 years | $15,266 |
| 19 years | $18,516 |
| 21 years | $21,766 |
| 23 years | $25,016 |
| 25 years | $28,266 |
Top Solar Installers in Lake Alfred
When making the switch to solar, many homeowners prefer to hire a solar installation company since installing a solar system yourself can be a time-consuming project. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Lake Alfred
Factors that Affect Solar Panel Costs in Lake Alfred
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Lake Alfred: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar 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 about $3,210. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid option because they decrease 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 loans, including the total interest you’ll pay over the length of the loan. If you’re only able to 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lake Alfred 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 walking you through the whole process. 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 | $17,830 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,132 | 10.8 years |
| 10 kW | $3.21 | $22,470 | $30,615 | 10.6 years |
| 12 kW | $3.15 | $26,425 | $37,277 | 10.4 years |
| 14 kW | $3.08 | $30,200 | $44,119 | 10.2 years |
| 16 kW | $3.02 | $33,795 | $51,141 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,342 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $65,723 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Lake Alfred, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: If you’re concerned about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
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 Lake Alfred, FL Solar Cost FAQs
How much does it cost to install solar panels in Lake Alfred?
The average cost of solar panels in Lake Alfred is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lake Alfred?
Solar panels aren’t free in Lake Alfred, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Lake Alfred have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Lake Alfred?
Though 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 choose to replace them after having them for that long or you can keep using 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.