Solar Panel Cost Guide in Ocala, FL (2024 Update)
- Ocala Solar Installation Cost: $12,744
- 25-Year Savings: $21,422
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Ocala
Let’s take a look at the average cost of solar in Ocala.
Although the national average of solar panels is $2.66 per watt, solar panels in Ocala generally cost about 3.The average Ocala homeowner needs a 5.7-kilowatt system, which would cost about $12,744 with the federal tax credit, or $18,224 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Ocala homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Ocala can save around $22,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Ocala that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ocala
| Year | Return on Investment |
|---|---|
| 1 years | $-11,058 |
| 3 years | $-7,686 |
| 5 years | $-4,314 |
| 7 years | $-942 |
| 9 years | $2,430 |
| 11 years | $5,802 |
| 13 years | $9,174 |
| 15 years | $12,547 |
| 17 years | $15,919 |
| 19 years | $19,291 |
| 21 years | $22,663 |
| 23 years | $26,035 |
| 25 years | $29,407 |
Top Solar Installers in Ocala
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels yourself can be time-consuming. The expertise that solar installers offer can be helpful as well, particularly if you don’t quite know what kind of solar equipment you need.
If you’d like to switch to solar energy but still aren’t sure which solar panel installer to go with, here are our suggestions for providers near you:
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 Ocala
Factors that Affect Solar Panel Costs in Ocala
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Ocala: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,210.The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ocala 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 greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk 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 names.
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 | $19,266 | 10.5 years |
| 8 kW | $3.27 | $18,336 | $26,048 | 10.3 years |
| 10 kW | $3.21 | $22,470 | $33,009 | 10.1 years |
| 12 kW | $3.15 | $26,425 | $40,150 | 9.9 years |
| 14 kW | $3.08 | $30,200 | $47,471 | 9.7 years |
| 16 kW | $3.02 | $33,795 | $54,972 | 9.5 years |
| 18 kW | $2.95 | $37,210 | $62,652 | 9.3 years |
| 20 kW | $2.89 | $40,446 | $70,513 | 9.1 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Warranty: A quality company rises above other companies by offering 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 Ocala, FL Solar Cost FAQs
What is the average cost of installing solar panels in Ocala?
The average cost of solar panels in Ocala is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Ocala?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Ocala?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.