Solar Panel Cost Guide in Big Pine Key, FL (2024 Update)
- Big Pine Key Solar Installation Cost: $11,253
- 25-Year Savings: $19,786
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Big Pine Key
Find out what the average cost of a solar system is in Big Pine Key.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Big Pine Key, the average cost of solar panels is 3 per watt.The average solar panel system size in Big Pine Key is around 5.0 kilowatts, meaning a cost of about $11,253 for a solar installation, or $16,092 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 vary based on your household energy use, the type of equipment you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Big Pine Key see about $22,000 in savings on energy bills over 20 years.
To get a free estimate from a vetted solar company in Big Pine Key, you can click the button below.
Solar savings over time in Big Pine Key
| Year | Return on Investment |
|---|---|
| 1 years | $-9,778 |
| 3 years | $-6,827 |
| 5 years | $-3,876 |
| 7 years | $-925 |
| 9 years | $2,026 |
| 11 years | $4,977 |
| 13 years | $7,928 |
| 15 years | $10,879 |
| 17 years | $13,830 |
| 19 years | $16,781 |
| 21 years | $19,732 |
| 23 years | $22,683 |
| 25 years | $25,634 |
Top Solar Installers in Big Pine Key
When switching to solar energy, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're searching for a solar installer in Big Pine Key, 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 Big Pine Key
Factors that Affect Solar Panel Costs in Big Pine Key
There are several criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Big Pine Key to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.Even though solar loans make adopting solar energy more accessible for Big Pine Key homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Big Pine Key, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $20,309 | 10.2 years |
| 8 kW | $3.27 | $18,336 | $27,438 | 10.0 years |
| 10 kW | $3.21 | $22,470 | $34,746 | 9.8 years |
| 12 kW | $3.15 | $26,425 | $42,235 | 9.6 years |
| 14 kW | $3.08 | $30,200 | $49,903 | 9.4 years |
| 16 kW | $3.02 | $33,795 | $57,751 | 9.2 years |
| 18 kW | $2.95 | $37,210 | $65,779 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $73,987 | 8.8 years |
How to Save on Solar Panels
There are numerous companies available in Big Pine Key, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- 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 Big Pine Key, FL Solar Cost FAQs
How much does it cost to install solar panels in Big Pine Key?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons 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.
Is it worth going solar in Big Pine Key?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.