Solar Panel Cost Guide in New Smyrna Beach, FL (2024 Update)
- New Smyrna Beach Solar Installation Cost: $12,298
- 25-Year Savings: $18,680
- Payback Period: 10.8 Years
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Average Cost of Solar Panels in New Smyrna Beach
Find out what the average cost of solar panel installation is in New Smyrna Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in New Smyrna Beach typically cost around 3.To cover the typical energy usage of the average home in New Smyrna Beach, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,298, or $17,586 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in New Smyrna Beach depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar installer in New Smyrna Beach for a quote for your home.
Solar savings over time in New Smyrna Beach
| 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 New Smyrna Beach
When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a time-consuming project. The payback period of solar panels will vary based on factors like your location and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 New Smyrna Beach
Factors that Affect Solar Panel Costs in New Smyrna Beach
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in New Smyrna Beach: 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
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,210. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the New Smyrna Beach average.
Solar Financing Terms
Many homeowners find the average cost of solar in New Smyrna Beach to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.You’ll have to consider the long-term cost of financing options, 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 principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also is 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 | $17,083 | 11.3 years |
| 8 kW | $3.27 | $18,336 | $23,137 | 11.1 years |
| 10 kW | $3.21 | $22,470 | $29,370 | 10.8 years |
| 12 kW | $3.15 | $26,425 | $35,783 | 10.6 years |
| 14 kW | $3.08 | $30,200 | $42,376 | 10.4 years |
| 16 kW | $3.02 | $33,795 | $49,149 | 10.2 years |
| 18 kW | $2.95 | $37,210 | $56,102 | 10.0 years |
| 20 kW | $2.89 | $40,446 | $63,234 | 9.8 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
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 New Smyrna Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in New Smyrna Beach?
This is a hard 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. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in New Smyrna Beach?
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.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in New Smyrna Beach is currently $473,539, which means you could be looking at a value of about $19,415 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in New Smyrna Beach is a worthwhile investment.
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 how much energy they produce will have decreased significantly after that point. You can opt to 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.