Solar Panel Cost Guide in Edgewater, FL (2024 Update)
- Edgewater Solar Installation Cost: $12,298
- 25-Year Savings: $18,975
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Edgewater
Find out what the average cost of solar panel installation is in Edgewater.
The national average cost of solar panels is $2.66 per watt, but in Edgewater it’s 3 per watt.The average Edgewater homeowner needs a 5.5-kilowatt system, which would cost about $12,298 with the federal tax credit, or $17,586 before the 0 tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you want to go with.Even with the high upfront cost, the average Edgewater homeowner can save about $20,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Edgewater that can help you get a more accurate cost estimate for your home.
Solar savings over time in Edgewater
| 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 Edgewater
Many homeowners decide to use a solar panel company since trying to install solar panels yourself can be hard. Plus, if you’re not certain what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Edgewater, the EcoWatch team has organized a list of our top suggestions here:
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 Edgewater
Factors that Affect Solar Panel Costs in Edgewater
The cost of installing a solar system in Edgewater can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.The brand and type of equipment you choose for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Edgewater, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea 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 back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Edgewater is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $17,406 | 11.2 years |
| 8 kW | $3.27 | $18,336 | $23,568 | 10.9 years |
| 10 kW | $3.21 | $22,470 | $29,909 | 10.7 years |
| 12 kW | $3.15 | $26,425 | $36,430 | 10.5 years |
| 14 kW | $3.08 | $30,200 | $43,131 | 10.3 years |
| 16 kW | $3.02 | $33,795 | $50,011 | 10.1 years |
| 18 kW | $2.95 | $37,210 | $57,071 | 9.9 years |
| 20 kW | $2.89 | $40,446 | $64,312 | 9.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: When making the switch to solar power, it’s important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: If you care about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 good reviews from past customers.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
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 Edgewater, FL Solar Cost FAQs
How much does it cost to install solar panels in Edgewater?
The average cost of solar panels in Edgewater 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Edgewater?
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 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.