Solar Panel Cost Guide in Ives Estates, FL (2023 Update)
- Ives Estates Solar Installation Cost: $9,526
- 25-Year Savings: $19,633
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ives Estates
See how much it might cost to install solar panels in Ives Estates.
In Ives Estates, solar panels cost about 2.53 per watt on average. The average solar panel system size in Ives Estates is around 5.4 kilowatts, meaning a cost of about $9,528 for a solar installation, or $13,625 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you want to go with. Despite the significant initial cost, the average Ives Estates homeowner can save about $21,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar installer in Ives Estates for a customized estimate.
Solar savings over time in Ives Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-8,152 |
| 3 years | $-5,405 |
| 5 years | $-2,658 |
| 7 years | $90 |
| 9 years | $2,837 |
| 11 years | $5,584 |
| 13 years | $8,331 |
| 15 years | $11,078 |
| 17 years | $13,826 |
| 19 years | $16,573 |
| 21 years | $19,320 |
| 23 years | $22,067 |
| 25 years | $24,815 |
Top Solar Installers in Ives Estates
When going solar, many homeowners decide to use a solar installer since DIY solar panel installation can be a challenging project. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for you.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Ives Estates:
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 Ives Estates
Factors that Affect Solar Panel Costs in Ives Estates
The cost of installing a solar system in Ives Estates can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,530. The brand and type of equipment you get 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 have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at 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
Many homeowners find the average cost of solar in Ives Estates to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can affect the cost. Ives Estates' solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, 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 | $21,475 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,917 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,500 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,225 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,092 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,100 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,250 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,542 | 7.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Ives Estates, FL Solar Cost FAQs
What is the average cost of installing solar panels in Ives Estates?
The average cost of solar panels in Ives Estates is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Ives Estates?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,084.20 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.