Solar Panel Cost Guide in Indian River Estates, FL (2024 Update)
- Indian River Estates Solar Installation Cost: $11,797
- 25-Year Savings: $20,993
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Indian River Estates
Find out what the average cost of solar panels are in Indian River Estates.
In Indian River Estates, solar panels cost about 3 per watt on average.Because a 5.3-kW system is needed to cover the energy consumption of a typical home in Indian River Estates, the average price of going solar will be about $11,797 after claiming the federal solar tax credit of 0.
These figures are just estimates, and the cost of going solar for you will differ based on your energy needs and what company you want to go with.But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on power bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Indian River Estates
| 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 Indian River Estates
When switching to solar energy, many homeowners opt to hire a solar company since handling can be a time-consuming project. Solar warranties and repairs are often included in the cost of installation when you opt for a solar company too, which can save you more money after your initial investment.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers in Indian River Estates:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Indian River Estates
Factors that Affect Solar Panel Costs in Indian River Estates
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Indian River Estates: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
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 crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Indian River Estates, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Indian River Estates, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can play a part in determining how much it costs. Indian River Estates’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $20,596 | 10.1 years |
| 8 kW | $3.27 | $18,336 | $27,820 | 9.9 years |
| 10 kW | $3.21 | $22,470 | $35,225 | 9.7 years |
| 12 kW | $3.15 | $26,425 | $42,809 | 9.5 years |
| 14 kW | $3.08 | $30,200 | $50,573 | 9.3 years |
| 16 kW | $3.02 | $33,795 | $58,517 | 9.2 years |
| 18 kW | $2.95 | $37,210 | $66,641 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $74,944 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Long-standing companies 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 quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Indian River Estates, FL Solar Cost FAQs
How much does it cost to install solar panels in Indian River Estates?
This is a tough question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Indian River Estates?
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 don’t have access to 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 savings from going solar.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Though 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 how much 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.