Solar Panel Cost Guide in Richmond Heights, FL (2024 Update)
- Richmond Heights Solar Installation Cost: $11,993
- 25-Year Savings: $19,706
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Richmond Heights
We break down average solar pricing in Richmond Heights.
Although the national average of solar panels is $2.66 per watt, solar panels in Richmond Heights typically cost about 3.Because a 5.3-kW system is needed to cover the energy costs of a typical home in Richmond Heights, the average price of going solar will be about $11,993 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Richmond Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-10,619 |
| 3 years | $-7,872 |
| 5 years | $-5,125 |
| 7 years | $-2,378 |
| 9 years | $370 |
| 11 years | $3,117 |
| 13 years | $5,864 |
| 15 years | $8,611 |
| 17 years | $11,359 |
| 19 years | $14,106 |
| 21 years | $16,853 |
| 23 years | $19,600 |
| 25 years | $22,348 |
Top Solar Installers in Richmond Heights
Although you can install solar panels yourself, it takes extra energy and expertise. For that reason, most people choose a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your location and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Richmond Heights
Factors that Affect Solar Panel Costs in Richmond Heights
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Richmond Heights, 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
If paying for solar panels out of pocket is difficult, solar loans are a solid option 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 adds to your overall costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a part in determining the cost. Richmond Heights’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $18,758 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,370 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $32,161 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $39,133 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $46,284 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,615 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $61,126 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,817 | 9.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Richmond Heights, FL Solar Cost FAQs
What is the average cost of installing solar panels in Richmond Heights?
This is a difficult question to answer precisely, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a key 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 trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Richmond Heights is currently $760,429, which means you can expect a value of about $31,178 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Richmond Heights is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.