Solar Panel Cost Guide in Marco Island, FL (2024 Update)
- Marco Island Solar Installation Cost: $11,905
- 25-Year Savings: $22,454
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Marco Island
Let’s take a look at the average cost of solar panels in Marco Island.
The national average cost of solar panels is $2.66 per watt, but in Marco Island it’s 3 per watt.To account for the typical energy usage of the average home in Marco Island, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,905, or $17,024 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $20,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Marco Island
| Year | Return on Investment |
|---|---|
| 1 years | $-10,530 |
| 3 years | $-7,782 |
| 5 years | $-5,033 |
| 7 years | $-2,284 |
| 9 years | $464 |
| 11 years | $3,213 |
| 13 years | $5,962 |
| 15 years | $8,710 |
| 17 years | $11,459 |
| 19 years | $14,208 |
| 21 years | $16,956 |
| 23 years | $19,705 |
| 25 years | $22,454 |
Top Solar Installers in Marco Island
Putting up solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Some solar installers, particularly local ones, can help you take advantage of incentives in Marco Island, thereby optimizing your ROI.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Marco Island
Factors that Affect Solar Panel Costs in Marco Island
Though the average cost of a solar system in Marco Island is $11,905, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you select will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Marco Island know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $18,097 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,489 | 10.7 years |
| 10 kW | $3.21 | $22,470 | $31,061 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,813 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,744 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,855 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $59,146 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,616 | 9.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time 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 past customers.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should choose, since different companies offer different panels.
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 Marco Island, FL Solar Cost FAQs
How much does it cost to install solar panels in Marco Island?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 cost 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 go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Marco Island?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,070.62 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.