Solar Panel Cost Guide in Siesta Key, FL (2024 Update)
- Siesta Key Solar Installation Cost: $12,178
- 25-Year Savings: $19,561
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Siesta Key
Let’s take a look at the average cost of solar panels in Siesta Key.
The national average cost of solar panels is $2.66 per watt, but in Siesta Key it’s 3 per watt.Using this figure, a typical 5.4-kW system would cost about $12,178 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Siesta Key depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Siesta Key homeowner can save about $20,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a top solar company in Siesta Key, you can click the button below.
Solar savings over time in Siesta Key
| Year | Return on Investment |
|---|---|
| 1 years | $-10,804 |
| 3 years | $-8,057 |
| 5 years | $-5,310 |
| 7 years | $-2,562 |
| 9 years | $185 |
| 11 years | $2,932 |
| 13 years | $5,679 |
| 15 years | $8,427 |
| 17 years | $11,174 |
| 19 years | $13,921 |
| 21 years | $16,668 |
| 23 years | $19,416 |
| 25 years | $22,163 |
Top Solar Installers in Siesta Key
When making the switch to solar, many homeowners opt to hire a solar installer since handling can be a challenging project. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy needs, but going with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Siesta Key
Factors that Affect Solar Panel Costs in Siesta Key
Even though the average cost of a solar system in Siesta Key is $12,178, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need, 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 $3,210. There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, 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 too expensive, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Siesta Key, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $18,260 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,707 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,333 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,138 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,124 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,289 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,634 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,159 | 9.4 years |
How to Save on Solar Panels
There are numerous companies available in Siesta Key, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable 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 research your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Siesta Key, FL Solar Cost FAQs
How much does it cost to install solar panels in Siesta Key?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Siesta Key?
You can’t get solar panels for free in Siesta Key. However, you may still be able to get 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 will solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.