Solar Panel Cost Guide in Longboat Key, FL (2024 Update)
- Longboat Key Solar Installation Cost: $12,239
- 25-Year Savings: $19,512
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Longboat Key
We go over average solar pricing in Longboat Key.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Longboat Key, the typical cost of a solar system is 3 per watt.Because a 5.4-kW system is needed to cover the energy consumption of a typical home in Longboat Key, the average price of going solar will be about $12,239 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with.Even with the significant initial cost, the average Longboat Key homeowner can save about $20,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in Longboat Key
| Year | Return on Investment |
|---|---|
| 1 years | $-10,865 |
| 3 years | $-8,118 |
| 5 years | $-5,371 |
| 7 years | $-2,623 |
| 9 years | $124 |
| 11 years | $2,871 |
| 13 years | $5,618 |
| 15 years | $8,365 |
| 17 years | $11,113 |
| 19 years | $13,860 |
| 21 years | $16,607 |
| 23 years | $19,354 |
| 25 years | $22,102 |
Top Solar Installers in Longboat Key
Installing solar panels yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Longboat Key
Factors that Affect Solar Panel Costs in Longboat Key
While the average cost of a solar system in Longboat Key is $12,239, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Longboat Key average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average.It’s wise to include 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Longboat Key, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $18,099 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,492 | 10.7 years |
| 10 kW | $3.21 | $22,470 | $31,064 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,816 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,748 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,859 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $59,151 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,622 | 9.4 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Longboat Key, FL Solar Cost FAQs
What is the average cost of installing solar panels in Longboat Key?
The average cost of solar panels in Longboat Key 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Longboat Key?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Longboat Key, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.