Solar Panel Cost Guide in Hobe Sound, FL (2023 Update)
- Hobe Sound Solar Installation Cost: $9,493
- 25-Year Savings: $19,666
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hobe Sound
Here's how much it might cost to go solar in Hobe Sound.
While the national average of solar panels is $2.66 per watt, solar panels in Hobe Sound generally cost about 2.53. The average Hobe Sound homeowner needs a 5.4-kilowatt system, which would cost about $9,493 with the federal tax credit, or $13,575 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more. With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Hobe Sound find going solar can be quite rewarding.
To receive a free estimate from a highly rated solar installation company in Hobe Sound, you can click the button below.
Solar savings over time in Hobe Sound
| Year | Return on Investment |
|---|---|
| 1 years | $-8,326 |
| 3 years | $-5,994 |
| 5 years | $-3,661 |
| 7 years | $-1,328 |
| 9 years | $1,005 |
| 11 years | $3,337 |
| 13 years | $5,670 |
| 15 years | $8,003 |
| 17 years | $10,335 |
| 19 years | $12,668 |
| 21 years | $15,001 |
| 23 years | $17,333 |
| 25 years | $19,666 |
Top Solar Installers in Hobe Sound
Although it's possible to install solar panels yourself, it requires extra labor and expertise. For that reason, almost all homeowners choose a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for your family.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Hobe Sound
Factors that Affect Solar Panel Costs in Hobe Sound
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Hobe Sound: 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 cost of solar panels in Hobe Sound, one of the most crucial 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 consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,530 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Hobe Sound, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal 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 remaining significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Hobe Sound, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $21,562 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $29,033 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,645 | 8.1 years |
| 12 kW | $2.48 | $20,827 | $44,399 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,295 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,333 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,512 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,832 | 7.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: If you're concerned about the longevity of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Hobe Sound, FL Solar Cost FAQs
How much does it cost to install solar panels in Hobe Sound?
The average cost of solar panels in Hobe Sound is about $12,650 for a 5-kW system and $25,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hobe Sound?
A solar panel system isn't free in Hobe Sound, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Hobe Sound?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.