Solar Panel Cost Guide in Westwood Lakes, FL (2024 Update)
- Westwood Lakes Solar Installation Cost: $12,014
- 25-Year Savings: $19,689
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Westwood Lakes
Let’s have a look at the average cost of solar panels in Westwood Lakes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Westwood Lakes, the typical cost of a solar system is 3 per watt.The average solar panel system size in Westwood Lakes is around 5.3 kilowatts, meaning a cost of about $12,014 for a solar installation, or $17,180 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average Westwood Lakes homeowners see about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a personalized estimate.
Solar savings over time in Westwood Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,641 |
| 3 years | $-7,894 |
| 5 years | $-5,146 |
| 7 years | $-2,399 |
| 9 years | $348 |
| 11 years | $3,095 |
| 13 years | $5,843 |
| 15 years | $8,590 |
| 17 years | $11,337 |
| 19 years | $14,084 |
| 21 years | $16,832 |
| 23 years | $19,579 |
| 25 years | $22,326 |
Top Solar Installers in Westwood Lakes
When going solar, many homeowners choose to go with a solar installation company since installing a solar system yourself can be a challenging project. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Westwood Lakes, we've 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 Westwood Lakes
Factors that Affect Solar Panel Costs in Westwood Lakes
For many Westwood Lakes homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Westwood Lakes, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Westwood Lakes, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Westwood Lakes have solar loans, which reduce the initial cost of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $18,699 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,291 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $32,063 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $39,015 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $46,147 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,459 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,950 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,621 | 9.3 years |
How to Save on Solar Panels
There are numerous companies available in Westwood Lakes, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- 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 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 Westwood Lakes, FL Solar Cost FAQs
What is the average cost of installing solar panels in Westwood Lakes?
The average cost of solar panels in Westwood Lakes 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 things such as 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 Westwood Lakes?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside 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.
Is making the switch to solar worth it?
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 pretty low, solar panels might not be for you.
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 larger 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.