Solar Panel Cost Guide in Medulla, FL (2024 Update)
- Medulla Solar Installation Cost: $12,358
- 25-Year Savings: $16,156
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Medulla
Let’s have a look at the average cost of solar in Medulla.
In Medulla, solar panels cost about 3 per watt on average.Using this figure, a typical 5.5-kW system would cost about $12,358 before the 0 federal solar tax credit is applied.
Remember 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 panels you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on power bills.
To receive a free estimate from a top solar installer in Medulla, you can click the button below.
Solar savings over time in Medulla
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-8,382 |
| 5 years | $-5,731 |
| 7 years | $-3,081 |
| 9 years | $-430 |
| 11 years | $2,221 |
| 13 years | $4,871 |
| 15 years | $7,522 |
| 17 years | $10,173 |
| 19 years | $12,824 |
| 21 years | $15,474 |
| 23 years | $18,125 |
| 25 years | $20,776 |
Top Solar Installers in Medulla
When switching to solar energy, many homeowners choose to go with a solar installer since installing solar panels yourself can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Medulla, we've compiled a list of our top suggestions here:
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 Medulla
Factors that Affect Solar Panel Costs in Medulla
Although the average cost of a solar system in Medulla is $12,358, your final cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Medulla is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $14,230 | 12.4 years |
| 8 kW | $3.27 | $18,336 | $19,333 | 12.2 years |
| 10 kW | $3.21 | $22,470 | $24,615 | 11.9 years |
| 12 kW | $3.15 | $26,425 | $30,077 | 11.7 years |
| 14 kW | $3.08 | $30,200 | $35,719 | 11.5 years |
| 16 kW | $3.02 | $33,795 | $41,541 | 11.2 years |
| 18 kW | $2.95 | $37,210 | $47,543 | 11.0 years |
| 20 kW | $2.89 | $40,446 | $53,724 | 10.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar company, make sure you look it over 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.
- Warranty: If you care about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
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 Medulla, FL Solar Cost FAQs
What is the average cost of installing solar panels in Medulla?
This is a tough 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 above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Medulla?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.