Solar Panel Cost Guide in Islamorada, FL (2024 Update)
- Islamorada Solar Installation Cost: $11,253
- 25-Year Savings: $19,838
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Islamorada
Let’s take a look at the average cost of solar panels in Islamorada.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Islamorada, the average cost of solar panels is 3 per watt.Using this figure, a typical 5.0-kW system would cost about $11,253 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Islamorada homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $22,000 on energy bills over 20 years, many homeowners in Islamorada find investing in solar can pay off big.
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 Islamorada
| Year | Return on Investment |
|---|---|
| 1 years | $-9,829 |
| 3 years | $-6,980 |
| 5 years | $-4,131 |
| 7 years | $-1,281 |
| 9 years | $1,568 |
| 11 years | $4,417 |
| 13 years | $7,266 |
| 15 years | $10,115 |
| 17 years | $12,964 |
| 19 years | $15,813 |
| 21 years | $18,662 |
| 23 years | $21,511 |
| 25 years | $24,361 |
Top Solar Installers in Islamorada
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be challenging. Solar warranties and repairs are often included in the cost of installation when you opt for a solar company too, which can save you more money over time.
If you're on the hunt for a solar company in Islamorada, we've put together 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 Islamorada
Factors that Affect Solar Panel Costs in Islamorada
Although the average cost of a solar system in Islamorada is $11,253, your final 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 solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,210. The brand of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, 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 looking into a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $20,371 | 10.2 years |
| 8 kW | $3.27 | $18,336 | $27,521 | 10.0 years |
| 10 kW | $3.21 | $22,470 | $34,851 | 9.8 years |
| 12 kW | $3.15 | $26,425 | $42,361 | 9.6 years |
| 14 kW | $3.08 | $30,200 | $50,050 | 9.4 years |
| 16 kW | $3.02 | $33,795 | $57,919 | 9.2 years |
| 18 kW | $2.95 | $37,210 | $65,968 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $74,197 | 8.8 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: If you care about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Islamorada, FL Solar Cost FAQs
How much does it cost to install solar panels in Islamorada?
This is a hard 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 other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Islamorada?
A solar panel system isn’t free in Islamorada, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Islamorada, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.