Solar Panel Cost Guide in Cape Coral, FL (2024 Update)
- Cape Coral Solar Installation Cost: $12,004
- 25-Year Savings: $19,299
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in Cape Coral
Find out what the average cost of solar panel installation is in Cape Coral.
The national average cost of solar panels is $2.66 per watt, but in Cape Coral it’s 3 per watt.The average solar panel system size in Cape Coral is around 5.3 kilowatts, meaning a cost of about $12,004 for a solar installation, or $17,166 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Cape Coral
| Year | Return on Investment |
|---|---|
| 1 years | $-10,630 |
| 3 years | $-7,883 |
| 5 years | $-5,135 |
| 7 years | $-2,388 |
| 9 years | $359 |
| 11 years | $3,107 |
| 13 years | $5,854 |
| 15 years | $8,601 |
| 17 years | $11,349 |
| 19 years | $14,096 |
| 21 years | $16,844 |
| 23 years | $19,591 |
| 25 years | $22,338 |
Top Solar Installers in Cape Coral
Although you can install solar panels on your own, it involves extra labor and handiness. That's why most people choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Cape Coral:
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 Cape Coral
Factors that Affect Solar Panel Costs in Cape Coral
For many Cape Coral homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Cape Coral, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Cape Coral, one of the most important 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 usage, which you can gauge by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Cape Coral average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Cape Coral, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Cape Coral, you’ll have many options to choose from, but each comes at different price points for labor and equipment.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $18,280 | 10.9 years |
| 8 kW | $3.27 | $18,336 | $24,733 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,366 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,178 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,170 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,342 | 9.8 years |
| 18 kW | $2.95 | $37,210 | $59,694 | 9.6 years |
| 20 kW | $2.89 | $40,446 | $67,225 | 9.4 years |
How to Save on Solar Panels
There are a large number of companies available in Cape Coral, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you’re worried about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Cape Coral, FL Solar Cost FAQs
What is the average cost of installing solar panels in Cape Coral?
This is a hard question to answer precisely, 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 more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Cape Coral?
You can’t get solar panels for free in Cape Coral. However, you may still be able to afford 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.
Does Cape Coral have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 stop working completely 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 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.