Solar Panel Cost Guide in Lutz, FL (2024 Update)
- Lutz Solar Installation Cost: $12,394
- 25-Year Savings: $19,956
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Lutz
Find out what the average cost of solar panel installation is in Lutz.
The national average cost of solar panels is $2.66 per watt, but in Lutz it’s 3 per watt.The average Lutz homeowner needs a 5.5-kilowatt system, which would cost about $12,394 with the federal tax credit, or $17,723 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Lutz for a custom quote.
Solar savings over time in Lutz
| Year | Return on Investment |
|---|---|
| 1 years | $-10,709 |
| 3 years | $-7,339 |
| 5 years | $-3,969 |
| 7 years | $-600 |
| 9 years | $2,770 |
| 11 years | $6,140 |
| 13 years | $9,510 |
| 15 years | $12,880 |
| 17 years | $16,249 |
| 19 years | $19,619 |
| 21 years | $22,989 |
| 23 years | $26,359 |
| 25 years | $29,729 |
Top Solar Installers in Lutz
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make swapping over to solar power much easier. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lutz
Factors that Affect Solar Panel Costs in Lutz
Though the average cost of a solar system in Lutz is $12,394, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,210 per kilowatt in Lutz.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lutz, where sunlight is abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Lutz provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of loans, including the total 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Lutz have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,313 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,776 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,420 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,243 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,246 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,429 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,792 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,334 | 9.4 years |
How to Save on Solar Panels
There are numerous companies available in Lutz, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lutz, FL Solar Cost FAQs
What is the average cost of installing solar panels in Lutz?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Lutz?
Solar panels aren’t free in Lutz, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Lutz?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.