Solar Panel Cost Guide in Balm, FL (2024 Update)
- Balm Solar Installation Cost: $12,394
- 25-Year Savings: $17,212
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Balm
Here’s how much it might cost to switch to solar power in Balm.
The national average cost of solar panels is $2.66 per watt, but in Balm it’s 3 per watt.Using this figure, a typical 5.5-kW system would cost about $12,394 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on your specific situation and what company you go with.Even with the high upfront cost, the average Balm homeowner can save about $20,000 on their energy bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Balm
| Year | Return on Investment |
|---|---|
| 1 years | $-11,052 |
| 3 years | $-8,370 |
| 5 years | $-5,687 |
| 7 years | $-3,004 |
| 9 years | $-321 |
| 11 years | $2,362 |
| 13 years | $5,045 |
| 15 years | $7,728 |
| 17 years | $10,411 |
| 19 years | $13,094 |
| 21 years | $15,776 |
| 23 years | $18,459 |
| 25 years | $21,142 |
Top Solar Installers in Balm
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your swap to solar power much easier. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're looking for a solar installer in Balm, we've put together a list of our top suggestions here:
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 Balm
Factors that Affect Solar Panel Costs in Balm
There are many criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,210. The brand and type of equipment you choose 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Balm homeowners opt to finance their solar panel systems to make paying for solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Balm, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fit into your budget.
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 | $15,328 | 11.9 years |
| 8 kW | $3.27 | $18,336 | $20,797 | 11.7 years |
| 10 kW | $3.21 | $22,470 | $26,446 | 11.5 years |
| 12 kW | $3.15 | $26,425 | $32,274 | 11.3 years |
| 14 kW | $3.08 | $30,200 | $38,282 | 11.0 years |
| 16 kW | $3.02 | $33,795 | $44,470 | 10.8 years |
| 18 kW | $2.95 | $37,210 | $50,838 | 10.6 years |
| 20 kW | $2.89 | $40,446 | $57,385 | 10.3 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 Balm, FL Solar Cost FAQs
What is the average cost of installing solar panels in Balm?
The average cost of solar panels in Balm is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Balm?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $978.31 per year.
How long do solar panels last in Balm?
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 level 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.