Solar Panel Cost Guide in River Ridge, FL (2024 Update)
- River Ridge Solar Installation Cost: $12,515
- 25-Year Savings: $21,522
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in River Ridge
Let’s take a look at the average cost of solar in River Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in River Ridge, the average cost of a solar system is 3 per watt.Since a 5.6-kW system is needed to cover the energy consumption of a typical home in River Ridge, the average price of going solar will be about $12,515 after claiming the federal solar tax credit of 0.
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 use, the type of solar panels you want to get, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in River Ridge can save around $23,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in River Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,740 |
| 3 years | $-7,191 |
| 5 years | $-3,641 |
| 7 years | $-92 |
| 9 years | $3,458 |
| 11 years | $7,007 |
| 13 years | $10,557 |
| 15 years | $14,107 |
| 17 years | $17,656 |
| 19 years | $21,206 |
| 21 years | $24,755 |
| 23 years | $28,305 |
| 25 years | $31,854 |
Top Solar Installers in River Ridge
Although you can install solar panels yourself, it involves extra effort and handiness. That's one of the reasons most homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you take advantage of incentives in River Ridge, therefore optimizing your ROI.
If you're looking for a solar installer in River Ridge, the EcoWatch team has 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 River Ridge
Factors that Affect Solar Panel Costs in River Ridge
The cost of installing a solar system in River Ridge can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,210. There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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
Many homeowners find the average cost of solar in River Ridge to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher 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
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in River Ridge, and each can charge different amounts for labor and equipment.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk 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 down 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 | $19,789 | 10.4 years |
| 8 kW | $3.27 | $18,336 | $26,745 | 10.2 years |
| 10 kW | $3.21 | $22,470 | $33,881 | 10.0 years |
| 12 kW | $3.15 | $26,425 | $41,196 | 9.8 years |
| 14 kW | $3.08 | $30,200 | $48,692 | 9.6 years |
| 16 kW | $3.02 | $33,795 | $56,367 | 9.4 years |
| 18 kW | $2.95 | $37,210 | $64,221 | 9.2 years |
| 20 kW | $2.89 | $40,446 | $72,256 | 9.0 years |
How to Save on Solar Panels
The solar panel company you opt for will affect 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 take into account, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 River Ridge, FL Solar Cost FAQs
How much does it cost to install solar panels in River Ridge?
The average cost of solar panels in River Ridge 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in River Ridge?
Leasing solar panels can be an option if you are unable to pay upfront or get 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 savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for 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 what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.