Solar Panel Cost Guide in Cocoa, FL (2023 Update)
- Cocoa Solar Installation Cost: $8,926
- 25-Year Savings: $21,468
- Payback Period: 7.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cocoa
Let's take a look at the average cost of solar in Cocoa.
The national average cost of solar panels is $2.66 per watt, but in Cocoa it's 2.53 per watt. The average solar panel system size in Cocoa is around 5.0 kilowatts, meaning a cost of about $8,926 for a solar installation, or $12,764 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Cocoa depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. Despite the large initial cost, the average Cocoa homeowner can save about $23,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a highly rated solar installer in Cocoa, you can click the button below.
Solar savings over time in Cocoa
| Year | Return on Investment |
|---|---|
| 1 years | $-7,710 |
| 3 years | $-5,279 |
| 5 years | $-2,847 |
| 7 years | $-416 |
| 9 years | $2,016 |
| 11 years | $4,448 |
| 13 years | $6,879 |
| 15 years | $9,311 |
| 17 years | $11,742 |
| 19 years | $14,174 |
| 21 years | $16,605 |
| 23 years | $19,037 |
| 25 years | $21,468 |
Top Solar Installers in Cocoa
Although it's possible to install solar panels on your own, it requires extra energy and knowledge. For that reason, almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to make the switch to solar but still aren't certain which solar panel company 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
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
There are many factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cocoa, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,530 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Cocoa average.
Solar Financing Terms
Most solar installers in Cocoa provide solar loans, which reduce the initial cost of installing a solar system. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Cocoa, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $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
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:
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which company you should opt for, since different companies have different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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
How much does it cost to install solar panels in Cocoa?
The average cost of solar panels in Cocoa is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cocoa?
Solar panels aren't free in Cocoa, 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 can help lower the cost.
Is it worth going solar in Cocoa?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.