Solar Panel Cost Guide in Vero Beach South, FL (Mar 2023)
- Vero Beach South Solar Installation Cost: $9,422
- 25-Year Savings: $21,541
- Payback Period: 7.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Vero Beach South
Here's how much it might cost to go solar in Vero Beach South.
Although the national average of solar panels is $2.66 per watt, solar panels in Vero Beach South generally cost around 2.53. To cover the typical energy usage of the average home in Vero Beach South, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,422, or $13,473 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you may differ based on factors unique to your home and what company you choose to go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on energy bills.
To get a free quote from a highly rated solar installation company in Vero Beach South, you can click the button below.
Solar savings over time in Vero Beach South
| Year | Return on Investment |
|---|---|
| 1 years | $-8,183 |
| 3 years | $-5,706 |
| 5 years | $-3,229 |
| 7 years | $-752 |
| 9 years | $1,725 |
| 11 years | $4,202 |
| 13 years | $6,679 |
| 15 years | $9,156 |
| 17 years | $11,633 |
| 19 years | $14,110 |
| 21 years | $16,587 |
| 23 years | $19,064 |
| 25 years | $21,541 |
Top Solar Installers in Vero Beach South
When making the switch to solar, many homeowners prefer to use a solar installer since putting up solar panels yourself can be a difficult project. Plus, if you're unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Vero Beach South
Factors that Affect Solar Panel Costs in Vero Beach South
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,530 per kilowatt in Vero Beach South. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering 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 lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence your pricing. Vero Beach South's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $23,837 | 7.9 years |
| 8 kW | $2.58 | $14,451 | $32,066 | 7.8 years |
| 10 kW | $2.53 | $17,710 | $40,437 | 7.6 years |
| 12 kW | $2.48 | $20,827 | $48,950 | 7.5 years |
| 14 kW | $2.43 | $23,802 | $57,604 | 7.3 years |
| 16 kW | $2.38 | $26,636 | $66,400 | 7.2 years |
| 18 kW | $2.33 | $29,328 | $75,337 | 7.0 years |
| 20 kW | $2.28 | $31,878 | $84,416 | 6.9 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which installer you should opt for, since different companies have different panels.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: Each company may 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 (coming 2022)
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 Vero Beach South, FL Solar Cost FAQs
What is the average cost of installing solar panels in Vero Beach South?
The average cost of solar panels in Vero Beach South 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Vero Beach South?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside 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.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Vero Beach South is currently $170,762, which means you could be looking at a value of about $7,001 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Vero Beach South is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger level 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.