Solar Panel Cost Guide in Daytona Beach, FL (2023 Update)
- Daytona Beach Solar Installation Cost: $9,687
- 25-Year Savings: $19,471
- Payback Period: 8.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Daytona Beach
We break down average solar pricing in Daytona Beach.
In Daytona Beach, solar panels cost about 2.53 per watt on average. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Daytona Beach depending on several factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Daytona Beach can save around $20,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Daytona Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-8,521 |
| 3 years | $-6,188 |
| 5 years | $-3,856 |
| 7 years | $-1,523 |
| 9 years | $810 |
| 11 years | $3,142 |
| 13 years | $5,475 |
| 15 years | $7,808 |
| 17 years | $10,141 |
| 19 years | $12,473 |
| 21 years | $14,806 |
| 23 years | $17,139 |
| 25 years | $19,471 |
Top Solar Installers in Daytona Beach
When going solar, many homeowners prefer to use a solar installer since putting up solar panels yourself can be a challenging project. The payback period on an investment in solar panels will vary based on factors like your location and energy use, but working with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Daytona Beach
Factors that Affect Solar Panel Costs in Daytona Beach
Though the average cost of a solar system in Daytona Beach is $9,687, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,530. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Daytona Beach, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Daytona Beach, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. While solar loans make switching to solar energy more accessible for Daytona Beach homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Daytona Beach, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies typically 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 | $2.63 | $11,051 | $20,915 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,170 | 8.5 years |
| 10 kW | $2.53 | $17,710 | $35,567 | 8.3 years |
| 12 kW | $2.48 | $20,827 | $43,105 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $50,785 | 8.0 years |
| 16 kW | $2.38 | $26,636 | $58,607 | 7.8 years |
| 18 kW | $2.33 | $29,328 | $66,570 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $74,675 | 7.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which installer you should opt for, since different companies have different panels.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
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 Daytona Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in Daytona Beach?
The average cost of solar panels in Daytona Beach is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Daytona Beach?
Leasing solar panels can be an option if you can't 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 home 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 bang for your buck from going solar.
Is switching to solar power worth it?
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 do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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.