Solar Panel Cost Guide in Hutchinson Island South, FL (2024 Update)
- Hutchinson Island South Solar Installation Cost: $11,797
- 25-Year Savings: $19,861
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Hutchinson Island South
Let’s have a look at the average cost of solar in Hutchinson Island South.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hutchinson Island South, the average cost of a solar system is 3 per watt.The average Hutchinson Island South homeowner needs a 5.3-kilowatt system, which would cost about $11,797 with the federal tax credit, or $16,870 before the 0 tax credit is applied.
These figures are only estimates, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you choose to go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Hutchinson Island South that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hutchinson Island South
| Year | Return on Investment |
|---|---|
| 1 years | $-10,424 |
| 3 years | $-7,676 |
| 5 years | $-4,929 |
| 7 years | $-2,182 |
| 9 years | $565 |
| 11 years | $3,313 |
| 13 years | $6,060 |
| 15 years | $8,807 |
| 17 years | $11,554 |
| 19 years | $14,302 |
| 21 years | $17,049 |
| 23 years | $19,796 |
| 25 years | $22,543 |
Top Solar Installers in Hutchinson Island South
Many homeowners choose to hire a solar installation company since installing solar panels yourself can be challenging. Some solar companies, particularly local ones, can help you take advantage of incentives in Hutchinson Island South, optimizing your ROI.
If you're searching for a solar installer in Hutchinson Island South, we've compiled a list of our top suggestions here:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Hutchinson Island South
Factors that Affect Solar Panel Costs in Hutchinson Island South
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Hutchinson Island South: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Hutchinson Island South, where sunlight is abundant, efficiency can quickly pay off. In addition, 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
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make adopting solar energy more accessible for Hutchinson Island South homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect how much it costs. Hutchinson Island South’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.34 | $14,021 | $19,301 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,095 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $33,068 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,221 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,553 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $55,065 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,758 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,629 | 9.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Hutchinson Island South, FL Solar Cost FAQs
What is the average cost of installing solar panels in Hutchinson Island South?
The average cost of solar panels in Hutchinson Island South is about $16,050 for a 5-kW system and $32,100 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 Hutchinson Island South?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 making the switch to solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Hutchinson Island South?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.