Solar Panel Cost Guide in Edgewater, FL (2023 Update)
- Edgewater Solar Installation Cost: $9,687
- 25-Year Savings: $18,980
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Edgewater
We go over average solar pricing in Edgewater.
Although the national average of solar panels is $2.66 per watt, solar panels in Edgewater typically cost about 2.53. The average Edgewater homeowner needs a 5.5-kilowatt system, which would cost about $9,687 with the federal tax credit, or $13,852 before the 30% tax credit is applied.
These figures are just averages, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $20,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Edgewater
| Year | Return on Investment |
|---|---|
| 1 years | $-8,541 |
| 3 years | $-6,247 |
| 5 years | $-3,954 |
| 7 years | $-1,661 |
| 9 years | $633 |
| 11 years | $2,926 |
| 13 years | $5,220 |
| 15 years | $7,513 |
| 17 years | $9,806 |
| 19 years | $12,100 |
| 21 years | $14,393 |
| 23 years | $16,687 |
| 25 years | $18,980 |
Top Solar Installers in Edgewater
Many homeowners choose to hire a solar panel installer since trying to install solar panels on your own can be a lot of work. Also, if you'd like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
There are various licensed solar professionals that can install solar panels for you. 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 Edgewater
Factors that Affect Solar Panel Costs in Edgewater
Though the average cost of a solar system in Edgewater is $9,687, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,530. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Edgewater homeowners opt to finance their solar panel systems to make going solar more affordable. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Edgewater, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger 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 | $20,376 | 8.8 years |
| 8 kW | $2.58 | $14,451 | $27,452 | 8.6 years |
| 10 kW | $2.53 | $17,710 | $34,669 | 8.5 years |
| 12 kW | $2.48 | $20,827 | $42,028 | 8.3 years |
| 14 kW | $2.43 | $23,802 | $49,528 | 8.1 years |
| 16 kW | $2.38 | $26,636 | $57,170 | 7.9 years |
| 18 kW | $2.33 | $29,328 | $64,954 | 7.8 years |
| 20 kW | $2.28 | $31,878 | $72,880 | 7.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
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 Edgewater, FL Solar Cost FAQs
How much does it cost to install solar panels in Edgewater?
The average cost of solar panels in Edgewater 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 kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Edgewater, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 their energy production will have decreased significantly after that point. You can replace them after having 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.