Solar Panel Cost Guide in Cocoa, FL (2023 Update)
- Cocoa Solar Installation Cost: $8,923
- 25-Year Savings: $21,471
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cocoa
Let's have a look at the average cost of solar in Cocoa.
In Cocoa, solar panels cost about 2.53 per watt on average. Since a 5.0-kW system is needed to cover the energy usage of a typical home in Cocoa, the average price of going solar will be about $8,926 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 true cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Cocoa that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cocoa
| Year | Return on Investment |
|---|---|
| 1 years | $-8,822 |
| 3 years | $-8,619 |
| 5 years | $-8,416 |
| 7 years | $-8,214 |
| 9 years | $-8,011 |
| 11 years | $-7,809 |
| 13 years | $-7,606 |
| 15 years | $-7,403 |
| 17 years | $-7,201 |
| 19 years | $-6,998 |
| 21 years | $-6,795 |
| 23 years | $-6,593 |
| 25 years | $-6,390 |
Top Solar Installers in Cocoa
Although it's possible to install solar panels yourself, it requires extra labor and handiness. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
Working with a professional solar installer can make going solar easier. 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
See all of the solar companies in Cocoa
Factors that Affect Solar Panel Costs in Cocoa
Even though the average cost of a solar system in Cocoa is $8,926, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Cocoa to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. However, the interest on solar loans also adds to your total costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Cocoa, you'll have many options to choose from, but each comes at varying price points for labor and equipment. 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 come with an above-average cost. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also is 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 | $25,144 | 7.6 years |
| 8 kW | $2.58 | $14,451 | $33,809 | 7.5 years |
| 10 kW | $2.53 | $17,710 | $42,615 | 7.3 years |
| 12 kW | $2.48 | $20,827 | $51,563 | 7.2 years |
| 14 kW | $2.43 | $23,802 | $60,653 | 7.0 years |
| 16 kW | $2.38 | $26,636 | $69,884 | 6.9 years |
| 18 kW | $2.33 | $29,328 | $79,257 | 6.8 years |
| 20 kW | $2.28 | $31,878 | $88,772 | 6.6 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
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 Cocoa, FL Solar Cost FAQs
What is the average cost of installing solar panels in Cocoa?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Cocoa?
A solar panel system isn't free in Cocoa, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will solar panels impact the value of my home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power 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 take a 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 install between 20 and 35 panels to cover 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.