Solar Panel Cost Guide in West Melbourne, FL (Mar 2023)
- West Melbourne Solar Installation Cost: $8,926
- 25-Year Savings: $21,005
- Payback Period: 7.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in West Melbourne
Find out how much it might cost to switch to solar power in West Melbourne.
The average cost of solar panels in West Melbourne is 2.53 per watt. To account for the typical energy usage of the average home in West Melbourne, most homeowners require a 5.0-kilowatt system. Using the figure above, a solar installation costs about $8,926, or $12,764 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average West Melbourne 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 adopting solar power is a fruitful investment. The average homeowner in West Melbourne can save around $23,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in West Melbourne for a quote for your home.
Solar savings over time in West Melbourne
| Year | Return on Investment |
|---|---|
| 1 years | $-7,729 |
| 3 years | $-5,334 |
| 5 years | $-2,940 |
| 7 years | $-545 |
| 9 years | $1,849 |
| 11 years | $4,244 |
| 13 years | $6,638 |
| 15 years | $9,033 |
| 17 years | $11,427 |
| 19 years | $13,822 |
| 21 years | $16,216 |
| 23 years | $18,610 |
| 25 years | $21,005 |
Top Solar Installers in West Melbourne
Although you can install solar panels yourself, it involves extra labor and handiness. Because of that, most homeowners choose a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 West Melbourne
Factors that Affect Solar Panel Costs in West Melbourne
The cost of installing a solar system in West Melbourne can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can play a role in determining the cost. West Melbourne's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $24,592 | 7.8 years |
| 8 kW | $2.58 | $14,451 | $33,073 | 7.6 years |
| 10 kW | $2.53 | $17,710 | $41,695 | 7.5 years |
| 12 kW | $2.48 | $20,827 | $50,459 | 7.3 years |
| 14 kW | $2.43 | $23,802 | $59,365 | 7.2 years |
| 16 kW | $2.38 | $26,636 | $68,413 | 7.0 years |
| 18 kW | $2.33 | $29,328 | $77,602 | 6.9 years |
| 20 kW | $2.28 | $31,878 | $86,933 | 6.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 West Melbourne, FL Solar Cost FAQs
What is the average cost of installing solar panels in West Melbourne?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in West Melbourne is currently $200,071, so you could be looking at a value of about $8,203 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in West Melbourne is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.