Solar Panel Cost Guide in Siesta Key, FL (2024 Update)
- Siesta Key Solar Installation Cost: $12,178
- 25-Year Savings: $19,561
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Siesta Key
Let’s take a look at the average cost of solar panels in Siesta Key.
Although the national average of solar panels is $2.66 per watt, solar panels in Siesta Key generally cost around 3.To cover the typical energy usage of the average home in Siesta Key, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,178, or $17,415 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Siesta Key homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Siesta Key find investing in solar can be quite rewarding.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Siesta Key
| Year | Return on Investment |
|---|---|
| 1 years | $-10,804 |
| 3 years | $-8,057 |
| 5 years | $-5,310 |
| 7 years | $-2,562 |
| 9 years | $185 |
| 11 years | $2,932 |
| 13 years | $5,679 |
| 15 years | $8,427 |
| 17 years | $11,174 |
| 19 years | $13,921 |
| 21 years | $16,668 |
| 23 years | $19,416 |
| 25 years | $22,163 |
Top Solar Installers in Siesta Key
Although it's possible to install solar panels yourself, it involves extra time and expertise. That's why most people choose a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your location and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Siesta Key
Factors that Affect Solar Panel Costs in Siesta Key
Even though the average cost of a solar system in Siesta Key is $12,178, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant 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 energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,210 per kilowatt in Siesta Key.There are several different solar panel brands and the one you pick 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 get can affect your total cost. If you only 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 out of pocket is out of reach, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make going solar more accessible for Siesta Key homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Siesta Key, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $18,260 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,707 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,333 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,138 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,124 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,289 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,634 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,159 | 9.4 years |
How to Save on Solar Panels
There are a lot of companies available in Siesta Key, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Siesta Key, FL Solar Cost FAQs
How much does it cost to install solar panels in Siesta Key?
The average cost of solar panels in Siesta Key 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.
Can you get solar panels for free in Siesta Key?
Solar panels aren’t free in Siesta Key, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Siesta Key is currently $967,934, which means you can look forward to a value of about $39,685 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Siesta Key is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.