Solar Panel Cost Guide in Margate, FL (2025 Update)
- Margate Solar Installation Cost: $12,084
- 25-Year Savings: $19,635
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Margate
Find out what the average cost of solar panel installation is in Margate.
While the national average of solar panels is $2.66 per watt, solar panels in Margate typically cost about 3.The average solar panel system size in Margate is around 5.4 kilowatts, meaning a cost of about $12,084 for a solar installation, or $17,280 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Margate homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Margate
| Year | Return on Investment |
|---|---|
| 1 years | $-10,710 |
| 3 years | $-7,963 |
| 5 years | $-5,216 |
| 7 years | $-2,469 |
| 9 years | $279 |
| 11 years | $3,026 |
| 13 years | $5,773 |
| 15 years | $8,520 |
| 17 years | $11,268 |
| 19 years | $14,015 |
| 21 years | $16,762 |
| 23 years | $19,509 |
| 25 years | $22,257 |
Top Solar Installers in Margate
Many homeowners decide to hire a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're looking for a solar installer in Margate, we've organized a list of our top suggestions here:
See all of the solar companies in Margate
Factors that Affect Solar Panel Costs in Margate
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Margate: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,210 per kilowatt in Margate.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Margate, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Margate homeowners decide to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Margate, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $3.34 | $14,021 | $18,511 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,041 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,750 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,640 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,709 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $52,957 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,386 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,994 | 9.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in Margate, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking through your solar installer’s contract, ask for clarification 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.
- Reputation: Companies that have been in business for many years likely have a good 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 service, such as part repairs and replacements.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Warranty: If you’re worried about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
EcoWatch's Margate, FL Solar Cost FAQs
How much does it cost to install solar panels in Margate?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Margate?
Solar panels aren’t free in Margate, 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.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,084.40 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 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.