Solar Panel Cost Guide in Cocoa, FL (2024 Update)
- Cocoa Solar Installation Cost: $11,321
- 25-Year Savings: $23,019
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Cocoa
Find out what the average cost of solar panels are in Cocoa.
While the national average of solar panels is $2.66 per watt, solar panels in Cocoa typically cost around 3.The average solar panel system size in Cocoa is around 5.0 kilowatts, meaning a cost of about $11,321 for a solar installation, or $16,189 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Cocoa 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.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $23,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Cocoa
| Year | Return on Investment |
|---|---|
| 1 years | $-9,948 |
| 3 years | $-7,200 |
| 5 years | $-4,453 |
| 7 years | $-1,706 |
| 9 years | $1,041 |
| 11 years | $3,789 |
| 13 years | $6,536 |
| 15 years | $9,283 |
| 17 years | $12,030 |
| 19 years | $14,778 |
| 21 years | $17,525 |
| 23 years | $20,272 |
| 25 years | $23,019 |
Top Solar Installers in Cocoa
Although you can install solar panels on your own, it takes extra effort and know-how. That's why the majority of homeowners choose to hire a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be best for you.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Cocoa
Factors that Affect Solar Panel Costs in Cocoa
For many Cocoa homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Cocoa, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,210 per kilowatt in Cocoa.The brand and kind of equipment you want 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 have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cocoa to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.Although solar loans make adopting solar energy more accessible for Cocoa homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Cocoa, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Cocoa are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $22,174 | 9.7 years |
| 8 kW | $3.27 | $18,336 | $29,924 | 9.5 years |
| 10 kW | $3.21 | $22,470 | $37,855 | 9.3 years |
| 12 kW | $3.15 | $26,425 | $45,965 | 9.1 years |
| 14 kW | $3.08 | $30,200 | $54,255 | 8.9 years |
| 16 kW | $3.02 | $33,795 | $62,725 | 8.8 years |
| 18 kW | $2.95 | $37,210 | $71,375 | 8.6 years |
| 20 kW | $2.89 | $40,446 | $80,204 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
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 Cocoa, FL Solar Cost FAQs
What is the average cost of installing solar panels in Cocoa?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt 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?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.