Solar Panel Cost Guide in South Daytona, FL (2023 Update)
- South Daytona 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 South Daytona
Let's take a look at the average cost of solar in South Daytona.
The national average cost of solar panels is $2.66 per watt, but in South Daytona it's 2.53 per watt. Using this figure, a typical 5.5-kW system would cost about $9,687 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you choose to go with. With average savings of about $20,000 on utility bills over 20 years, many homeowners in South Daytona find going solar has a decent ROI.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in South Daytona
| 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 South Daytona
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your swap to solar power much easier. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar company in South Daytona, we've organized a list of our top suggestions here:
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 South Daytona
Factors that Affect Solar Panel Costs in South Daytona
For many South Daytona homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in South Daytona, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like South Daytona, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in South Daytona have solar loans, which reduce the initial cost of installing solar panels. You'll have to consider the long-term cost of loans, 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 original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in South Daytona, and each can charge different amounts for labor and equipment. Additionally, some companies in South Daytona know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based 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 the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: When making the switch to solar energy, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 South Daytona, FL Solar Cost FAQs
How much does it cost to install solar panels in South Daytona?
The average cost of solar panels in South Daytona is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Daytona is currently $184,915, so you can look forward to a value of about $7,582 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in South Daytona is a worthwhile investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.