Solar Panel Cost Guide in Daytona Beach Shores, FL (2023 Update)
- Daytona Beach Shores Solar Installation Cost: $9,687
- 25-Year Savings: $19,471
- Payback Period: 8.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Daytona Beach Shores
Find out what the average cost of solar panels are in Daytona Beach Shores.
The national average cost of solar panels is $2.66 per watt, but in Daytona Beach Shores it's 2.53 per watt. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Despite the significant upfront cost, the average Daytona Beach Shores homeowner can save around $20,000 on their energy bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar company in Daytona Beach Shores that can help you get a more accurate cost estimate for your home.
Solar savings over time in Daytona Beach Shores
| 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 Shores
Although it's possible to install solar panels by yourself, it takes extra time and handiness. For that reason, most people choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Shores
Factors that Affect Solar Panel Costs in Daytona Beach Shores
There are several criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
Most solar installers in Daytona Beach Shores provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Daytona Beach Shores is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different costs. You may see national solar installers that have lower prices due to 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 larger companies.
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
There are a large number of companies to choose from in Daytona Beach Shores, 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:
- Warranty: If you care about the longevity of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though 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 ask for their list of options before deciding.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Shores, FL Solar Cost FAQs
How much does it cost to install solar panels in Daytona Beach Shores?
The average cost of solar panels in Daytona Beach Shores 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 things like 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 Shores?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,065.53 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.