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.
In Pelican Bay, solar panels cost about 3 per watt on average.Using this figure, a typical 5.3-kW system would cost about $11,905 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Pelican Bay homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $21,000 on power bills over 20 years, many homeowners in Pelican Bay find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar installer, 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
Many homeowners opt for a solar panel company since figuring out how to install solar panels by yourself can be hard. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're on the hunt for a solar company in Pelican Bay, we've organized a list of our top suggestions here:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Pelican Bay
Factors that Affect Solar Panel Costs in Pelican Bay
Though the average cost of a solar system in Pelican Bay is $11,905, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of a solar system in Pelican Bay, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $3,210 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Pelican Bay provide solar loans, which reduce your upfront costs of installing solar.Even though solar loans make going solar more accessible for Pelican Bay homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.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 choose a company that has the products, warranties and services you want 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 you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: The brand of solar panel you’d like to get plays a part in which company you should opt for, since different companies have different panels.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Pelican Bay?
You can’t get solar panels for free in Pelican Bay. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.