Solar Panel Cost Guide in Daytona Beach Shores, FL (2023 Update)
- Daytona Beach Shores Solar Installation Cost: $12,298
- 25-Year Savings: $19,466
- Payback Period: 10.5 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Daytona Beach Shores
Let’s have a look at the average cost of solar in Daytona Beach Shores.
The national average cost of solar panels is $2.66 per watt, but in Daytona Beach Shores it’s 3 per watt.Because a 5.5-kW system is needed to cover the energy costs of a typical home in Daytona Beach Shores, the average price of going solar will be about $12,298 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Daytona Beach Shores find going solar can pay off big.
Click the button below to get connected to a highly rated solar installer in Daytona Beach Shores for a personalized quote.
Solar savings over time in Daytona Beach Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-10,924 |
| 3 years | $-8,177 |
| 5 years | $-5,430 |
| 7 years | $-2,683 |
| 9 years | $65 |
| 11 years | $2,812 |
| 13 years | $5,559 |
| 15 years | $8,306 |
| 17 years | $11,054 |
| 19 years | $13,801 |
| 21 years | $16,548 |
| 23 years | $19,295 |
| 25 years | $22,043 |
Top Solar Installers in Daytona Beach Shores
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company as well, which can save you more money over time.
If you’d like to switch to solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers near you:
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 Shores
Factors that Affect Solar Panel Costs in Daytona Beach Shores
Though the average cost of a solar system in Daytona Beach Shores is $12,298, your final cost may differ. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,210 per kilowatt in Daytona Beach Shores.The brand and kind of equipment you want 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 come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Daytona Beach Shores homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact the cost. Daytona Beach Shores’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger 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 | $17,945 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,286 | 10.8 years |
| 10 kW | $3.21 | $22,470 | $30,807 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,507 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,388 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,448 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,688 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,107 | 9.5 years |
How to Save on Solar Panels
The solar installer you opt for will impact 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 several important things you should consider, including:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: If you care about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Shores, FL Solar Cost FAQs
How much does it cost to install solar panels in Daytona Beach Shores?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 higher quality panels, or if you have higher-than-average energy consumption. Conversely, 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 key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Daytona Beach Shores is currently $433,498, so you can expect a value of about $17,773 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Daytona Beach Shores is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 account for 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.