Solar Panel Cost Guide in River Park, FL (2024 Update)
- River Park Solar Installation Cost: $11,797
- 25-Year Savings: $19,861
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in River Park
Find out how much it might cost to make the switch to solar in River Park.
Although the national average of solar panels is $2.66 per watt, solar panels in River Park generally cost around 3.To account for the typical energy usage of the average home in River Park, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs around $11,797, or $16,870 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar panel company in River Park for a custom estimate.
Solar savings over time in River Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,424 |
| 3 years | $-7,676 |
| 5 years | $-4,929 |
| 7 years | $-2,182 |
| 9 years | $565 |
| 11 years | $3,313 |
| 13 years | $6,060 |
| 15 years | $8,807 |
| 17 years | $11,554 |
| 19 years | $14,302 |
| 21 years | $17,049 |
| 23 years | $19,796 |
| 25 years | $22,543 |
Top Solar Installers in River Park
Although it's possible to install solar panels on your own, it takes extra energy and handiness. That's why the majority of homeowners choose a solar panel installer. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you're searching for a solar company in River Park, the EcoWatch team has put together 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 River Park
Factors that Affect Solar Panel Costs in River Park
The cost of installing a solar system in River Park can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,210 per kilowatt in River Park.The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in River Park, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in River Park, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in River Park know more 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 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 | $19,301 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,095 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $33,068 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,221 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,553 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $55,065 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,758 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,629 | 9.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 River Park, FL Solar Cost FAQs
What is the average cost of installing solar panels in River Park?
The average cost of solar panels in River Park is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in River Park?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in River Park, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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 install between 20 and 35 panels to account for 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.