Solar Panel Cost Guide in Marathon, FL (2023 Update)
- Marathon Solar Installation Cost: $8,869
- 25-Year Savings: $20,037
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marathon
Let's have a look at the average cost of solar in Marathon.
The average cost of a solar panel system in Marathon is 2.53 per watt. The average Marathon homeowner needs a 5.0-kilowatt system, which would cost about $8,873 with the federal tax credit, or $12,688 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Marathon find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Marathon
| Year | Return on Investment |
|---|---|
| 1 years | $-7,496 |
| 3 years | $-4,749 |
| 5 years | $-2,001 |
| 7 years | $746 |
| 9 years | $3,493 |
| 11 years | $6,240 |
| 13 years | $8,988 |
| 15 years | $11,735 |
| 17 years | $14,482 |
| 19 years | $17,229 |
| 21 years | $19,977 |
| 23 years | $22,724 |
| 25 years | $25,471 |
Top Solar Installers in Marathon
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our recommendations 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 Marathon
Factors that Affect Solar Panel Costs in Marathon
Even though the average cost of a solar system in Marathon is $8,873, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,530. The model of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Marathon have 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 put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact how much you pay. Marathon's solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 provides 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 | $23,581 | 8.0 years |
| 8 kW | $2.58 | $14,451 | $31,724 | 7.8 years |
| 10 kW | $2.53 | $17,710 | $40,009 | 7.7 years |
| 12 kW | $2.48 | $20,827 | $48,436 | 7.5 years |
| 14 kW | $2.43 | $23,802 | $57,005 | 7.4 years |
| 16 kW | $2.38 | $26,636 | $65,715 | 7.2 years |
| 18 kW | $2.33 | $29,328 | $74,567 | 7.1 years |
| 20 kW | $2.28 | $31,878 | $83,561 | 6.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Marathon, FL Solar Cost FAQs
What is the average cost of installing solar panels in Marathon?
This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Marathon?
Solar panels can be a fruitful 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 power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 buy between 20 and 35 panels to account for 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.