Solar Panel Cost Guide in The Hammocks, FL (2024 Update)
- The Hammocks Solar Installation Cost: $12,003
- 25-Year Savings: $19,432
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in The Hammocks
See how much it might cost to install solar panels in The Hammocks.
The average cost of a solar panel system in The Hammocks is 3 per watt.To account for the typical energy needs of the average home in The Hammocks, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,003, or $17,164 before the federal solar tax credit of 0 is applied.
These figures are only averages, and your own solar costs may look different based on your energy needs and what company you choose to go with.With average savings of about $21,000 on electricity bills over 20 years, many homeowners in The Hammocks find installing solar panels can pay off big.
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 The Hammocks
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,882 |
| 5 years | $-5,135 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,107 |
| 13 years | $5,854 |
| 15 years | $8,601 |
| 17 years | $11,348 |
| 19 years | $14,096 |
| 21 years | $16,843 |
| 23 years | $19,590 |
| 25 years | $22,337 |
Top Solar Installers in The Hammocks
Installing solar panels yourself can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. Another good thing about choosing a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
Working with a vetted solar installer 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 The Hammocks
Factors that Affect Solar Panel Costs in The Hammocks
The cost of installing a solar system in The Hammocks can vary by more than $10,000 from home to home. Your actual cost is dependent 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
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 energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,210 per kilowatt in The Hammocks.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the The Hammocks average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many The Hammocks homeowners choose to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact the cost. The Hammocks’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $18,431 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,934 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,617 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,480 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,522 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,745 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $60,147 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,728 | 9.3 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which installer you should go with, since different companies have different panels.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 The Hammocks, FL Solar Cost FAQs
How much does it cost to install solar panels in The Hammocks?
The average cost of solar panels in The Hammocks 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in The Hammocks?
A solar panel system isn’t free in The Hammocks, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go 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?
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 get 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.