Solar Panel Cost Guide in Indian River Shores, FL (2024 Update)

  • Indian River Shores Solar Installation Cost: $11,965
  • 25-Year Savings: $19,728
  • Payback Period: 10.3 Years

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By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Indian River Shores

Here’s how much it might cost to make the switch to solar in Indian River Shores.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Indian River Shores, the typical cost of a solar system is 3 per watt.The average Indian River Shores homeowner needs a 5.3-kilowatt system, which would cost about $11,965 with the federal tax credit, or $17,110 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Indian River Shores homeowners see about $21,000 in savings on energy bills over 20 years.

To receive a free estimate from a pre-vetted solar company in Indian River Shores, you can click the button below.

Solar savings over time in Indian River Shores

Year Return on Investment
1 years $-10,591
3 years $-7,844
5 years $-5,097
7 years $-2,350
9 years $398
11 years $3,145
13 years $5,892
15 years $8,639
17 years $11,387
19 years $14,134
21 years $16,881
23 years $19,628
25 years $22,376

Top Solar Installers in Indian River Shores

Although you can install solar panels on your own, it involves extra effort and handiness. That's one of the reasons most people choose to hire a solar panel installer. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Indian River Shores

Factors that Affect Solar Panel Costs in Indian River Shores

Although the average cost of a solar system in Indian River Shores is $11,965, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.

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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,210 per kilowatt in Indian River Shores.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Indian River Shores, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Indian River Shores, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Finally, the company you hire to install your solar panels can impact the cost. Indian River Shores’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 $3.34 $14,021 $18,834 10.7 years
8 kW $3.27 $18,336 $25,472 10.5 years
10 kW $3.21 $22,470 $32,289 10.3 years
12 kW $3.15 $26,425 $39,286 10.1 years
14 kW $3.08 $30,200 $46,463 9.8 years
16 kW $3.02 $33,795 $53,820 9.6 years
18 kW $2.95 $37,210 $61,356 9.4 years
20 kW $2.89 $40,446 $69,072 9.2 years

How to Save on Solar Panels

The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:

  • Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Reputation: Your solar installer should have a good reputation as a company and have proven 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 past customers.
  • Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Indian River Shores, FL Solar Cost FAQs

How much does it cost to install solar panels in Indian River Shores?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is cost the most important consideration when buying solar panels?

The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Does Indian River Shores have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.

How long do solar panels last in Indian River Shores?

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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.

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