Solar Panel Cost Guide in Marathon, FL (2024 Update)
- Marathon Solar Installation Cost: $11,253
- 25-Year Savings: $20,037
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Marathon
Let’s take a look at the average cost of solar in Marathon.
The national average cost of solar panels is $2.66 per watt, but in Marathon it’s 3 per watt.The average solar panel system size in Marathon is around 5.0 kilowatts, meaning a cost of about $11,253 for a solar installation, or $16,092 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with.Even with the high upfront cost, the average Marathon homeowner can save about $22,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Marathon
| Year | Return on Investment |
|---|---|
| 1 years | $-9,880 |
| 3 years | $-7,132 |
| 5 years | $-4,385 |
| 7 years | $-1,638 |
| 9 years | $1,109 |
| 11 years | $3,857 |
| 13 years | $6,604 |
| 15 years | $9,351 |
| 17 years | $12,098 |
| 19 years | $14,845 |
| 21 years | $17,593 |
| 23 years | $20,340 |
| 25 years | $23,087 |
Top Solar Installers in Marathon
Installing solar panels yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you’re unsure what kind of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Marathon
Factors that Affect Solar Panel Costs in Marathon
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Marathon: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Marathon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,210 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Marathon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Marathon to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.Although solar loans make adopting solar energy more accessible for Marathon homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Marathon, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $20,610 | 10.1 years |
| 8 kW | $3.27 | $18,336 | $27,840 | 9.9 years |
| 10 kW | $3.21 | $22,470 | $35,249 | 9.7 years |
| 12 kW | $3.15 | $26,425 | $42,838 | 9.5 years |
| 14 kW | $3.08 | $30,200 | $50,607 | 9.3 years |
| 16 kW | $3.02 | $33,795 | $58,556 | 9.1 years |
| 18 kW | $2.95 | $37,210 | $66,684 | 9.0 years |
| 20 kW | $2.89 | $40,446 | $74,993 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Marathon, FL Solar Cost FAQs
How much does it cost to install solar panels in Marathon?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my property value?
Solar panels can increase your home 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% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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.