Solar Panel Cost Guide in Iona, FL (2024 Update)
- Iona Solar Installation Cost: $12,004
- 25-Year Savings: $19,299
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Iona
Let’s have a look at the average cost of solar in Iona.
In Iona, solar panels cost about 3 per watt on average.The average Iona homeowner needs a 5.3-kilowatt system, which would cost about $12,004 with the federal tax credit, or $17,166 before the 0 tax credit is applied.
These figures are only averages, and your own solar costs may look different based on your energy needs and what company you choose to go with.Despite the large initial cost, the average Iona homeowner can save about $20,000 on their energy bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Iona
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,883 |
| 5 years | $-5,136 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,106 |
| 13 years | $5,853 |
| 15 years | $8,601 |
| 17 years | $11,348 |
| 19 years | $14,095 |
| 21 years | $16,842 |
| 23 years | $19,589 |
| 25 years | $22,337 |
Top Solar Installers in Iona
Although you can install solar panels yourself, it takes extra time and expertise. For that reason, most homeowners choose a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Iona
Factors that Affect Solar Panel Costs in Iona
For many Iona homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Iona, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,210. There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Iona, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Iona, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $18,280 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,733 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,366 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,178 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,170 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,342 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,694 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,225 | 9.4 years |
How to Save on Solar Panels
There are a lot of companies available in Iona, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
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 Iona, FL Solar Cost FAQs
How much does it cost to install solar panels in Iona?
This is a hard question to answer exactly, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Iona?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.