Solar Panel Cost Guide in Minneola, FL (2024 Update)
- Minneola Solar Installation Cost: $12,571
- 25-Year Savings: $24,123
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Minneola
Let’s have a look at the average cost of solar panels in Minneola.
The average cost of a solar panel system in Minneola is 3 per watt.Using this figure, a typical 5.6-kW system would cost about $12,571 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what company you go with.With typical savings of about $24,000 on electricity bills over 20 years, many homeowners in Minneola find going solar can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Minneola
| Year | Return on Investment |
|---|---|
| 1 years | $-10,797 |
| 3 years | $-7,247 |
| 5 years | $-3,697 |
| 7 years | $-148 |
| 9 years | $3,402 |
| 11 years | $6,951 |
| 13 years | $10,501 |
| 15 years | $14,050 |
| 17 years | $17,600 |
| 19 years | $21,150 |
| 21 years | $24,699 |
| 23 years | $28,249 |
| 25 years | $31,798 |
Top Solar Installers in Minneola
Although it's possible to install solar panels by yourself, it requires extra time and knowledge. For that reason, most people choose a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
If you're searching for a solar company in Minneola, we've compiled a list of our top suggestions here:
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 Minneola
Factors that Affect Solar Panel Costs in Minneola
Though the average cost of a solar system in Minneola is $12,571, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,210.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 names.
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 | $22,475 | 9.6 years |
| 8 kW | $3.27 | $18,336 | $30,326 | 9.4 years |
| 10 kW | $3.21 | $22,470 | $38,357 | 9.2 years |
| 12 kW | $3.15 | $26,425 | $46,568 | 9.1 years |
| 14 kW | $3.08 | $30,200 | $54,958 | 8.9 years |
| 16 kW | $3.02 | $33,795 | $63,528 | 8.7 years |
| 18 kW | $2.95 | $37,210 | $72,278 | 8.5 years |
| 20 kW | $2.89 | $40,446 | $81,208 | 8.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
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 Minneola, FL Solar Cost FAQs
What is the average cost of installing solar panels in Minneola?
The average cost of solar panels in Minneola 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
To figure out how many solar panels 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 generally produce about 250 to 400 watt-hours per hour, the average household 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.