Solar Panel Cost Guide in Lochmoor Waterway Estates, FL (2024 Update)
- Lochmoor Waterway Estates Solar Installation Cost: $12,004
- 25-Year Savings: $19,432
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Lochmoor Waterway Estates
We go over average solar pricing in Lochmoor Waterway Estates.
The national average cost of solar panels is $2.66 per watt, but in Lochmoor Waterway Estates it’s 3 per watt.The average solar panel system size in Lochmoor Waterway Estates is around 5.3 kilowatts, meaning a cost of about $12,004 for a solar installation, or $17,166 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar system you choose, your solar contractor and more.With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Lochmoor Waterway Estates find going solar can pay off big.
Click the button below to get connected to a vetted solar installer in Lochmoor Waterway Estates for a customized quote.
Solar savings over time in Lochmoor Waterway Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,883 |
| 5 years | $-5,136 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,106 |
| 13 years | $5,853 |
| 15 years | $8,601 |
| 17 years | $11,348 |
| 19 years | $14,095 |
| 21 years | $16,842 |
| 23 years | $19,589 |
| 25 years | $22,337 |
Top Solar Installers in Lochmoor Waterway Estates
Although you can install solar panels on your own, it takes extra energy and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Another good thing about using a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
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 Lochmoor Waterway Estates
Factors that Affect Solar Panel Costs in Lochmoor Waterway Estates
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 Lochmoor Waterway Estates: 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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install 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 Lochmoor Waterway Estates to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Lochmoor Waterway Estates, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $3.34 | $14,021 | $18,429 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,932 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,614 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,477 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,519 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,740 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $60,142 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,723 | 9.3 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- 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 system is installed, such as updating or replacing your electrical system or roof.
- Warranty: If you’re worried about the durability of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Lochmoor Waterway Estates, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lochmoor Waterway Estates?
The average cost of solar panels in Lochmoor Waterway Estates 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 things like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power 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 $1,081.69 per year.
How long do solar panels last in Lochmoor Waterway Estates?
On average, solar panels can last 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 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.