Solar Panel Cost Guide in Satellite Beach, FL (2023 Update)
- Satellite Beach Solar Installation Cost: $8,923
- 25-Year Savings: $20,236
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Satellite Beach
Find out what the average cost of installing solar panels is in Satellite Beach.
The average cost of solar panels in Satellite Beach is 2.53 per watt. To cover the typical energy needs of the average home in Satellite Beach, most homeowners require a 5.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,926, or $12,764 before the federal solar tax credit of 30% is applied.
The actual price you pay can go above or below the average in Satellite Beach based on several factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Satellite Beach can save around $22,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Satellite Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-7,549 |
| 3 years | $-4,802 |
| 5 years | $-2,055 |
| 7 years | $692 |
| 9 years | $3,440 |
| 11 years | $6,187 |
| 13 years | $8,934 |
| 15 years | $11,681 |
| 17 years | $14,429 |
| 19 years | $17,176 |
| 21 years | $19,923 |
| 23 years | $22,670 |
| 25 years | $25,418 |
Top Solar Installers in Satellite Beach
Putting up solar panels yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers nearby:
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 Satellite Beach
Factors that Affect Solar Panel Costs in Satellite Beach
While the average cost of a solar system in Satellite Beach is $8,926, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,530. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact how much it costs. Satellite Beach's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Satellite Beach are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $23,673 | 8.0 years |
| 8 kW | $2.58 | $14,451 | $31,847 | 7.8 years |
| 10 kW | $2.53 | $17,710 | $40,163 | 7.7 years |
| 12 kW | $2.48 | $20,827 | $48,620 | 7.5 years |
| 14 kW | $2.43 | $23,802 | $57,220 | 7.3 years |
| 16 kW | $2.38 | $26,636 | $65,961 | 7.2 years |
| 18 kW | $2.33 | $29,328 | $74,843 | 7.0 years |
| 20 kW | $2.28 | $31,878 | $83,868 | 6.9 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:
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
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 Satellite Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in Satellite Beach?
This is a tough question to answer precisely, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Satellite Beach?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Satellite Beach?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.