Solar Panel Cost Guide in New Smyrna Beach, FL (2024 Update)
- New Smyrna Beach Solar Installation Cost: $12,298
- 25-Year Savings: $18,680
- Payback Period: 10.8 Years
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Average Cost of Solar Panels in New Smyrna Beach
Find out what the average cost of solar panel installation is in New Smyrna Beach.
While the national average of solar panels is $2.66 per watt, solar panels in New Smyrna Beach generally cost around 3.The average solar panel system size in New Smyrna 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.
The true price you pay can be higher or lower than the average in New Smyrna Beach depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average New Smyrna Beach homeowners see about $20,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in New Smyrna Beach for a quote for your home.
Solar savings over time in New Smyrna 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 New Smyrna Beach
When going solar, many homeowners opt to go with a solar installer since overseeing your solar installation yourself can be a time-consuming project. The payback period of solar panels will vary depending on factors like your location and energy consumption, but working with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our recommendations for providers nearby:
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 New Smyrna Beach
Factors that Affect Solar Panel Costs in New Smyrna Beach
While the average cost of a solar system in New Smyrna Beach is $12,298, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of 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.There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get 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
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in New Smyrna Beach is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different price points.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $17,083 | 11.3 years |
| 8 kW | $3.27 | $18,336 | $23,137 | 11.1 years |
| 10 kW | $3.21 | $22,470 | $29,370 | 10.8 years |
| 12 kW | $3.15 | $26,425 | $35,783 | 10.6 years |
| 14 kW | $3.08 | $30,200 | $42,376 | 10.4 years |
| 16 kW | $3.02 | $33,795 | $49,149 | 10.2 years |
| 18 kW | $2.95 | $37,210 | $56,102 | 10.0 years |
| 20 kW | $2.89 | $40,446 | $63,234 | 9.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar 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 secure and what the project timeline is.
- Warranty: If you’re worried about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
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 New Smyrna Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in New Smyrna Beach?
The average cost of solar panels in New Smyrna Beach 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in New Smyrna Beach?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 financial benefits from going solar.
Do solar panels increase the value of your home?
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 New Smyrna Beach is currently $473,539, which means you can look forward to a value of about $19,415 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in New Smyrna Beach is a fruitful 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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.