Solar Panel Cost Guide in Viera East, FL (2023 Update)
- Viera East Solar Installation Cost: $8,926
- 25-Year Savings: $21,262
- Payback Period: 7.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Viera East
Let's have a look at the average cost of solar in Viera East.
The average cost of a solar panel system in Viera East is 2.53 per watt. Because a 5.0-kW system is needed to cover the energy usage of a typical home in Viera East, the average price of going solar will be about $8,926 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Despite the large upfront cost, the average Viera East homeowner can save about $23,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Viera East
| Year | Return on Investment |
|---|---|
| 1 years | $-7,718 |
| 3 years | $-5,303 |
| 5 years | $-2,888 |
| 7 years | $-473 |
| 9 years | $1,942 |
| 11 years | $4,357 |
| 13 years | $6,772 |
| 15 years | $9,187 |
| 17 years | $11,602 |
| 19 years | $14,017 |
| 21 years | $16,432 |
| 23 years | $18,847 |
| 25 years | $21,262 |
Top Solar Installers in Viera East
Installing solar panels by yourself can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar company in Viera East, the EcoWatch team has compiled 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 (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 Viera East
Factors that Affect Solar Panel Costs in Viera East
For many Viera East homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Viera East, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Viera East, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,530 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Viera East, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $24,899 | 7.7 years |
| 8 kW | $2.58 | $14,451 | $33,482 | 7.5 years |
| 10 kW | $2.53 | $17,710 | $42,206 | 7.4 years |
| 12 kW | $2.48 | $20,827 | $51,073 | 7.2 years |
| 14 kW | $2.43 | $23,802 | $60,080 | 7.1 years |
| 16 kW | $2.38 | $26,636 | $69,230 | 6.9 years |
| 18 kW | $2.33 | $29,328 | $78,521 | 6.8 years |
| 20 kW | $2.28 | $31,878 | $87,954 | 6.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Warranty: If you care about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant 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 (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 Viera East, FL Solar Cost FAQs
How much does it cost to install solar panels in Viera East?
The average cost of solar panels in Viera East 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.
Should I lease or buy solar panels in Viera East?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
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 Viera East is currently $254,396, which means you could be looking at a value of about $10,430 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Viera East is a rewarding investment.
How long do solar panels last in Viera East?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much 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.