Solar Panel Cost Guide in Oldsmar, FL (2024 Update)
- Oldsmar Solar Installation Cost: $11,854
- 25-Year Savings: $23,560
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Oldsmar
We go over average solar pricing in Oldsmar.
The national average cost of solar panels is $2.66 per watt, but in Oldsmar it’s 3 per watt.The average Oldsmar homeowner needs a 5.3-kilowatt system, which would cost about $11,854 with the federal tax credit, or $16,951 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Oldsmar homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Oldsmar homeowner can save around $25,000 on their power bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Oldsmar
| Year | Return on Investment |
|---|---|
| 1 years | $-10,079 |
| 3 years | $-6,529 |
| 5 years | $-2,980 |
| 7 years | $570 |
| 9 years | $4,119 |
| 11 years | $7,669 |
| 13 years | $11,218 |
| 15 years | $14,768 |
| 17 years | $18,318 |
| 19 years | $21,867 |
| 21 years | $25,417 |
| 23 years | $28,966 |
| 25 years | $32,516 |
Top Solar Installers in Oldsmar
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be hard. Another perk of working with a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Oldsmar
Factors that Affect Solar Panel Costs in Oldsmar
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation 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.There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they decrease 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 total costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Oldsmar, and each can charge different amounts for labor and equipment.Additionally, some companies in Oldsmar are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $23,400 | 9.4 years |
| 8 kW | $3.27 | $18,336 | $31,560 | 9.2 years |
| 10 kW | $3.21 | $22,470 | $39,899 | 9.0 years |
| 12 kW | $3.15 | $26,425 | $48,418 | 8.8 years |
| 14 kW | $3.08 | $30,200 | $57,117 | 8.6 years |
| 16 kW | $3.02 | $33,795 | $65,995 | 8.5 years |
| 18 kW | $2.95 | $37,210 | $75,054 | 8.3 years |
| 20 kW | $2.89 | $40,446 | $84,292 | 8.1 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which company you should choose, since different companies provide different panels.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
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 Oldsmar, FL Solar Cost FAQs
How much does it cost to install solar panels in Oldsmar?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Oldsmar?
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 property 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 financial benefits from going solar.
Is it worth going solar in Oldsmar?
Solar panels can be a good investment for lots 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 energy bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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.