Solar Panel Cost Guide in Laurel, FL (2024 Update)
- Laurel Solar Installation Cost: $12,178
- 25-Year Savings: $19,295
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Laurel
We go over average solar pricing in Laurel.
In Laurel, solar panels cost about 3 per watt on average.Because a 5.4-kW system is needed to cover the energy needs of a typical home in Laurel, the average price of going solar will be about $12,178 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Laurel homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
To receive a free estimate from a top solar installation company in Laurel, you can click the button below.
Solar savings over time in Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-10,804 |
| 3 years | $-8,057 |
| 5 years | $-5,310 |
| 7 years | $-2,562 |
| 9 years | $185 |
| 11 years | $2,932 |
| 13 years | $5,679 |
| 15 years | $8,427 |
| 17 years | $11,174 |
| 19 years | $13,921 |
| 21 years | $16,668 |
| 23 years | $19,416 |
| 25 years | $22,163 |
Top Solar Installers in Laurel
Installing solar panels by yourself can be a challenging task, which is why getting a solar installer is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
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 Laurel
Factors that Affect Solar Panel Costs in Laurel
Though the average cost of a solar system in Laurel is $12,178, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,210.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Laurel, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Laurel to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Laurel, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $17,966 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,314 | 10.7 years |
| 10 kW | $3.21 | $22,470 | $30,842 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,550 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,437 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,505 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,751 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,178 | 9.5 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 find the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project completion timeline.
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 Laurel, FL Solar Cost FAQs
What is the average cost of installing solar panels in Laurel?
The average cost of solar panels in Laurel 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 like 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 Laurel?
Solar panels aren’t free in Laurel, 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 you can take advantage of.
Can solar panels eliminate my electricity bills?
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 $1,066.24 per year.
How long do solar panels last in Laurel?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.