Solar Panel Cost Guide in Big Pine Key, FL (2024 Update)
- Big Pine Key Solar Installation Cost: $11,253
- 25-Year Savings: $19,786
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Big Pine Key
Find out what the average cost of a solar system is in Big Pine Key.
In Big Pine Key, solar panels cost about 3 per watt on average.The average solar panel system size in Big Pine Key is around 5.0 kilowatts, meaning a cost of about $11,253 for a solar installation, or $16,092 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Big Pine Key depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.With typical savings of about $22,000 on electricity bills over 20 years, many homeowners in Big Pine Key find investing in solar can be quite rewarding.
To get a free quote from a pre-vetted solar company in Big Pine Key, you can click the button below.
Solar savings over time in Big Pine Key
| Year | Return on Investment |
|---|---|
| 1 years | $-9,778 |
| 3 years | $-6,827 |
| 5 years | $-3,876 |
| 7 years | $-925 |
| 9 years | $2,026 |
| 11 years | $4,977 |
| 13 years | $7,928 |
| 15 years | $10,879 |
| 17 years | $13,830 |
| 19 years | $16,781 |
| 21 years | $19,732 |
| 23 years | $22,683 |
| 25 years | $25,634 |
Top Solar Installers in Big Pine Key
Although it's possible to install solar panels yourself, it requires extra labor and expertise. For that reason, most homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you don’t quite know what type of solar equipment would be right for your home.
If you’d like to go solar but still aren’t sure which solar installer 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Big Pine Key
Factors that Affect Solar Panel Costs in Big Pine Key
While the average cost of a solar system in Big Pine Key is $11,253, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you choose 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 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Big Pine Key to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.Even though solar loans make adopting solar energy more accessible for Big Pine Key homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Big Pine Key, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Big Pine Key have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.34 | $14,021 | $20,309 | 10.2 years |
| 8 kW | $3.27 | $18,336 | $27,438 | 10.0 years |
| 10 kW | $3.21 | $22,470 | $34,746 | 9.8 years |
| 12 kW | $3.15 | $26,425 | $42,235 | 9.6 years |
| 14 kW | $3.08 | $30,200 | $49,903 | 9.4 years |
| 16 kW | $3.02 | $33,795 | $57,751 | 9.2 years |
| 18 kW | $2.95 | $37,210 | $65,779 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $73,987 | 8.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Warranty: If you’re concerned about the endurance of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Big Pine Key, FL Solar Cost FAQs
How much does it cost to install solar panels in Big Pine Key?
The average cost of solar panels in Big Pine Key is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.