Solar Panel Cost Guide in Cocoa Beach, FL (2024 Update)
- Cocoa Beach Solar Installation Cost: $11,321
- 25-Year Savings: $20,236
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Cocoa Beach
Let’s have a look at the average cost of solar in Cocoa Beach.
The average cost of solar panels in Cocoa Beach is 3 per watt.To account for the typical energy needs of the average home in Cocoa Beach, most homeowners require a 5.0-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,321, or $16,189 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Cocoa Beach can save around $22,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Cocoa Beach that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cocoa Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-9,948 |
| 3 years | $-7,200 |
| 5 years | $-4,453 |
| 7 years | $-1,706 |
| 9 years | $1,041 |
| 11 years | $3,789 |
| 13 years | $6,536 |
| 15 years | $9,283 |
| 17 years | $12,030 |
| 19 years | $14,778 |
| 21 years | $17,525 |
| 23 years | $20,272 |
| 25 years | $23,019 |
Top Solar Installers in Cocoa Beach
Installing solar panels on your own can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. Some solar installers, particularly local ones, can help you make the most of incentives in Cocoa Beach, thereby optimizing your ROI.
If you're looking for a solar company in Cocoa Beach, we've organized a list of our top suggestions here:
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 Cocoa Beach
Factors that Affect Solar Panel Costs in Cocoa Beach
For many Cocoa Beach homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Cocoa Beach, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cocoa Beach, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Cocoa Beach, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Cocoa Beach offer solar loans, which reduce the initial cost of installing solar.When estimating 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 lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cocoa Beach is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services at different costs.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 choose a company that provides the products, warranties and services you want and also fit into 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 | $3.34 | $14,021 | $20,702 | 10.1 years |
| 8 kW | $3.27 | $18,336 | $27,963 | 9.9 years |
| 10 kW | $3.21 | $22,470 | $35,403 | 9.7 years |
| 12 kW | $3.15 | $26,425 | $43,023 | 9.5 years |
| 14 kW | $3.08 | $30,200 | $50,822 | 9.3 years |
| 16 kW | $3.02 | $33,795 | $58,802 | 9.1 years |
| 18 kW | $2.95 | $37,210 | $66,961 | 8.9 years |
| 20 kW | $2.89 | $40,446 | $75,300 | 8.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Cocoa Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Cocoa Beach?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Cocoa Beach?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
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 Cocoa Beach is currently $490,770, so you can look forward to a value of about $20,122 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cocoa Beach is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.