Solar Panel Cost Guide in Myrtle Grove, FL (2025 Update)
- Myrtle Grove Solar Installation Cost: $13,072
- 25-Year Savings: $25,535
- Payback Period: 9.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Myrtle Grove
Find out what the average cost of installing solar panels is in Myrtle Grove.
In Myrtle Grove, solar panels cost about 3 per watt on average.The average solar panel system size in Myrtle Grove is around 5.8 kilowatts, meaning a cost of about $13,072 for a solar installation, or $18,693 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Myrtle Grove based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Myrtle Grove find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Myrtle Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-11,313 |
| 3 years | $-7,794 |
| 5 years | $-4,276 |
| 7 years | $-757 |
| 9 years | $2,761 |
| 11 years | $6,280 |
| 13 years | $9,798 |
| 15 years | $13,317 |
| 17 years | $16,835 |
| 19 years | $20,354 |
| 21 years | $23,872 |
| 23 years | $27,391 |
| 25 years | $30,909 |
Top Solar Installers in Myrtle Grove
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your switch to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for you.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Myrtle Grove
Factors that Affect Solar Panel Costs in Myrtle Grove
There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,210.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable option because they decrease 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 overall costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Myrtle Grove, you’ll have a great number of options to choose from, but each comes at varying price points for labor and 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 come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want 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 | $3.34 | $14,021 | $22,941 | 9.5 years |
| 8 kW | $3.27 | $18,336 | $30,947 | 9.3 years |
| 10 kW | $3.21 | $22,470 | $39,133 | 9.1 years |
| 12 kW | $3.15 | $26,425 | $47,499 | 8.9 years |
| 14 kW | $3.08 | $30,200 | $56,045 | 8.8 years |
| 16 kW | $3.02 | $33,795 | $64,770 | 8.6 years |
| 18 kW | $2.95 | $37,210 | $73,675 | 8.4 years |
| 20 kW | $2.89 | $40,446 | $82,760 | 8.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The type of solar panel you’d like plays a part in which company you should opt for, since different companies have different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of 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 previous customers.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- 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 your electrical system or roof.
EcoWatch's Myrtle Grove, FL Solar Cost FAQs
What is the average cost of installing solar panels in Myrtle Grove?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Myrtle Grove?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 financial benefits from going solar.
Does Myrtle Grove have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.