Solar Panel Cost Guide in Pelican Bay, FL (2024 Update)
- Pelican Bay Solar Installation Cost: $11,905
- 25-Year Savings: $19,776
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Pelican Bay
See how much it might cost to switch to solar power in Pelican Bay.
The national average cost of solar panels is $2.66 per watt, but in Pelican Bay it’s 3 per watt.The average Pelican Bay homeowner needs a 5.3-kilowatt system, which would cost about $11,905 with the federal tax credit, or $17,024 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Pelican Bay homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Pelican Bay can save around $21,000 on their energy bills over 20 years.
To get a free estimate from a pre-vetted solar company in Pelican Bay, you can click the button below.
Solar savings over time in Pelican Bay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,531 |
| 3 years | $-7,784 |
| 5 years | $-5,037 |
| 7 years | $-2,289 |
| 9 years | $458 |
| 11 years | $3,205 |
| 13 years | $5,952 |
| 15 years | $8,700 |
| 17 years | $11,447 |
| 19 years | $14,194 |
| 21 years | $16,941 |
| 23 years | $19,688 |
| 25 years | $22,436 |
Top Solar Installers in Pelican Bay
Although you can install solar panels by yourself, it takes extra time and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Pelican Bay
Factors that Affect Solar Panel Costs in Pelican Bay
The cost of installing a solar system in Pelican Bay can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, 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 nearly $3,210. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Pelican Bay, where sunlight is abundant, efficiency can quickly pay off. In addition, 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
Many homeowners find the average cost of solar in Pelican Bay to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Pelican Bay, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.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 cost more. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fits 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 | $19,000 | 10.6 years |
| 8 kW | $3.27 | $18,336 | $25,693 | 10.4 years |
| 10 kW | $3.21 | $22,470 | $32,566 | 10.2 years |
| 12 kW | $3.15 | $26,425 | $39,619 | 10.0 years |
| 14 kW | $3.08 | $30,200 | $46,851 | 9.8 years |
| 16 kW | $3.02 | $33,795 | $54,263 | 9.6 years |
| 18 kW | $2.95 | $37,210 | $61,855 | 9.4 years |
| 20 kW | $2.89 | $40,446 | $69,626 | 9.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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 Pelican Bay, FL Solar Cost FAQs
What is the average cost of installing solar panels in Pelican Bay?
The average cost of solar panels in Pelican Bay is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Pelican Bay?
Solar panels aren’t free in Pelican Bay, 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 will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pelican Bay is currently $665,261, so you could be looking at a value of about $27,276 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Pelican Bay is a worthwhile investment.
How long do solar panels last in Pelican Bay?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.