Solar Panel Cost Guide in Daytona Beach, FL (2024 Update)
- Daytona Beach Solar Installation Cost: $12,298
- 25-Year Savings: $19,466
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Daytona Beach
We break down average solar pricing in Daytona Beach.
While the national average of solar panels is $2.66 per watt, solar panels in Daytona Beach generally cost around 3.The average solar panel system size in Daytona Beach is around 5.5 kilowatts, meaning a cost of about $12,298 for a solar installation, or $17,586 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Daytona Beach homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $20,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Daytona Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-10,924 |
| 3 years | $-8,177 |
| 5 years | $-5,430 |
| 7 years | $-2,683 |
| 9 years | $65 |
| 11 years | $2,812 |
| 13 years | $5,559 |
| 15 years | $8,306 |
| 17 years | $11,054 |
| 19 years | $13,801 |
| 21 years | $16,548 |
| 23 years | $19,295 |
| 25 years | $22,043 |
Top Solar Installers in Daytona Beach
Although it's possible to install solar panels yourself, it requires extra energy and knowledge. Because of that, most homeowners choose a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Daytona Beach
Factors that Affect Solar Panel Costs in Daytona Beach
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Daytona Beach offer solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Daytona Beach, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.34 | $14,021 | $17,945 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,286 | 10.8 years |
| 10 kW | $3.21 | $22,470 | $30,807 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,507 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,388 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,448 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,688 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,107 | 9.5 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 satisfied reviews from previous customers.
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 Daytona Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Daytona Beach?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Daytona Beach?
Leasing solar panels can be an appealing choice, as 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 maximize your savings.
How will solar panels impact my home value?
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 Daytona Beach is currently $262,115, which means you can expect a value of about $10,747 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Daytona Beach is a rewarding 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.