Solar Panel Cost Guide in Ormond By The Sea, FL (2023 Update)
- Ormond By The Sea Solar Installation Cost: $9,687
- 25-Year Savings: $19,471
- Payback Period: 8.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ormond By The Sea
Here's how much it might cost to make the switch to solar in Ormond By The Sea.
The average cost of a solar panel system in Ormond By The Sea is 2.53 per watt. To account for the typical energy usage of the average home in Ormond By The Sea, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs about $9,687, or $13,852 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you will look different based on the amount of energy your home requires and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on energy bills.
To receive a free estimate from a top solar installation company in Ormond By The Sea, you can click the button below.
Solar savings over time in Ormond By The Sea
| Year | Return on Investment |
|---|---|
| 1 years | $-8,521 |
| 3 years | $-6,188 |
| 5 years | $-3,856 |
| 7 years | $-1,523 |
| 9 years | $810 |
| 11 years | $3,142 |
| 13 years | $5,475 |
| 15 years | $7,808 |
| 17 years | $10,141 |
| 19 years | $12,473 |
| 21 years | $14,806 |
| 23 years | $17,139 |
| 25 years | $19,471 |
Top Solar Installers in Ormond By The Sea
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using an installer can make your switch to solar power much easier. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers in Ormond By The Sea:
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 Ormond By The Sea
Factors that Affect Solar Panel Costs in Ormond By The Sea
For many Ormond By The Sea homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Ormond By The Sea, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Ormond By The Sea, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Although solar loans make switching to solar energy more accessible for Ormond By The Sea homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Ormond By The Sea, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Ormond By The Sea know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $20,915 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,170 | 8.5 years |
| 10 kW | $2.53 | $17,710 | $35,567 | 8.3 years |
| 12 kW | $2.48 | $20,827 | $43,105 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $50,785 | 8.0 years |
| 16 kW | $2.38 | $26,636 | $58,607 | 7.8 years |
| 18 kW | $2.33 | $29,328 | $66,570 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $74,675 | 7.5 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. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 Ormond By The Sea, FL Solar Cost FAQs
What is the average cost of installing solar panels in Ormond By The Sea?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Ormond By The Sea?
You can't get solar panels for free in Ormond By The Sea. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,065.53 per year.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.