Solar Panel Cost Guide in Lauderdale-by-the-Sea, FL (2024 Update)
- Lauderdale-by-the-Sea Solar Installation Cost: $12,084
- 25-Year Savings: $19,635
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Lauderdale-by-the-Sea
We go over average solar pricing in Lauderdale-by-the-Sea.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lauderdale-by-the-Sea, the average cost of solar panels is 3 per watt.To cover the typical energy usage of the average home in Lauderdale-by-the-Sea, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,084, or $17,280 before the federal solar tax credit of 0 is applied.
These figures are just averages, and your own solar costs may vary based on your specific situation and what company you choose to go with.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $21,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lauderdale-by-the-Sea
| Year | Return on Investment |
|---|---|
| 1 years | $-10,710 |
| 3 years | $-7,963 |
| 5 years | $-5,216 |
| 7 years | $-2,469 |
| 9 years | $279 |
| 11 years | $3,026 |
| 13 years | $5,773 |
| 15 years | $8,520 |
| 17 years | $11,268 |
| 19 years | $14,015 |
| 21 years | $16,762 |
| 23 years | $19,509 |
| 25 years | $22,257 |
Top Solar Installers in Lauderdale-by-the-Sea
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money over time.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Lauderdale-by-the-Sea:
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 Lauderdale-by-the-Sea
Factors that Affect Solar Panel Costs in Lauderdale-by-the-Sea
There are several 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 performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lauderdale-by-the-Sea, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,210 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost 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 electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Lauderdale-by-the-Sea average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Lauderdale-by-the-Sea, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $18,511 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,041 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,750 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,640 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,709 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $52,957 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,386 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,994 | 9.3 years |
How to Save on Solar Panels
There are many 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:
- 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 likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
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 Lauderdale-by-the-Sea, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lauderdale-by-the-Sea?
The average cost of solar panels in Lauderdale-by-the-Sea 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lauderdale-by-the-Sea is currently $650,818, which means you could be looking at a value of about $26,684 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lauderdale-by-the-Sea is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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 home 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.