Solar Panel Cost Guide in Lely Resort, FL (2024 Update)
- Lely Resort Solar Installation Cost: $11,905
- 25-Year Savings: $19,377
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Lely Resort
Let’s take a look at the average cost of solar panels in Lely Resort.
The average cost of solar panels in Lely Resort is 3 per watt.Because a 5.3-kW system is needed to cover the energy costs of a typical home in Lely Resort, the average price of going solar will be about $11,905 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Lely Resort homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Lely Resort can save around $21,000 on their power bills over 20 years.
Click the button below to get connected to a highly rated solar company in Lely Resort for a personalized estimate.
Solar savings over time in Lely Resort
| Year | Return on Investment |
|---|---|
| 1 years | $-10,531 |
| 3 years | $-7,784 |
| 5 years | $-5,037 |
| 7 years | $-2,289 |
| 9 years | $458 |
| 11 years | $3,205 |
| 13 years | $5,952 |
| 15 years | $8,700 |
| 17 years | $11,447 |
| 19 years | $14,194 |
| 21 years | $16,941 |
| 23 years | $19,688 |
| 25 years | $22,436 |
Top Solar Installers in Lely Resort
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make switching to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
Working with a licensed solar company can make going solar easier. 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 Lely Resort
Factors that Affect Solar Panel Costs in Lely Resort
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Lely Resort: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,210. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Lely Resort, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Lely Resort have solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also adds to your overall costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can play a role in determining how much you pay. Lely Resort’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 | $18,549 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,091 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,814 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,716 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,797 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,059 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,500 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,121 | 9.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind 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 take a look at their list of offerings before deciding.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. Confirm that you understand how the installation process works 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 Lely Resort, FL Solar Cost FAQs
How much does it cost to install solar panels in Lely Resort?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Lely Resort?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power 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 $1,085.67 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.