Solar Panel Cost Guide in Cape Coral, FL (Mar 2023)
- Cape Coral Solar Installation Cost: $9,457
- 25-Year Savings: $19,303
- Payback Period: 8.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cape Coral
We break down average solar pricing in Cape Coral.
In Cape Coral, solar panels cost about 2.53 per watt on average. Since a 5.3-kW system is needed to cover the energy consumption of a typical home in Cape Coral, the average price of going solar will be about $9,457 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what solar installer you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $20,000 over 20 years on power bills.
To get a free estimate from a pre-vetted solar company in Cape Coral, you can click the button below.
Solar savings over time in Cape Coral
| Year | Return on Investment |
|---|---|
| 1 years | $-8,307 |
| 3 years | $-6,006 |
| 5 years | $-3,705 |
| 7 years | $-1,404 |
| 9 years | $896 |
| 11 years | $3,197 |
| 13 years | $5,498 |
| 15 years | $7,799 |
| 17 years | $10,100 |
| 19 years | $12,400 |
| 21 years | $14,701 |
| 23 years | $17,002 |
| 25 years | $19,303 |
Top Solar Installers in Cape Coral
Installing solar panels yourself can be a time-consuming task, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your family.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Cape Coral
Factors that Affect Solar Panel Costs in Cape Coral
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Cape Coral: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require 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 $2,530. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cape Coral to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time due to interest. Though solar loans make switching to solar energy more accessible for Cape Coral homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Cape Coral is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $21,250 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,617 | 8.4 years |
| 10 kW | $2.53 | $17,710 | $36,126 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $43,776 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $51,568 | 7.9 years |
| 16 kW | $2.38 | $26,636 | $59,501 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $67,576 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $75,793 | 7.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a solid 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 good reviews from previous customers.
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Cape Coral, FL Solar Cost FAQs
How much does it cost to install solar panels in Cape Coral?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,076.71 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.