Solar Panel Cost Guide in Palm Beach, FL (2023 Update)
- Palm Beach Solar Installation Cost: $9,531
- 25-Year Savings: $18,615
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Palm Beach
Here's how much it might cost to switch to solar power in Palm Beach.
The national average cost of solar panels is $2.66 per watt, but in Palm Beach it's 2.53 per watt. The average solar panel system size in Palm Beach is around 5.4 kilowatts, meaning a cost of about $9,528 for a solar installation, or $13,625 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Palm Beach see about $20,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Palm Beach for a quote for your home.
Solar savings over time in Palm Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-9,437 |
| 3 years | $-9,249 |
| 5 years | $-9,062 |
| 7 years | $-8,874 |
| 9 years | $-8,686 |
| 11 years | $-8,499 |
| 13 years | $-8,311 |
| 15 years | $-8,124 |
| 17 years | $-7,936 |
| 19 years | $-7,748 |
| 21 years | $-7,561 |
| 23 years | $-7,373 |
| 25 years | $-7,185 |
Top Solar Installers in Palm Beach
Although you can install solar panels by yourself, it takes extra energy and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your family.
There are a number of licensed solar professionals that can help you install your solar system. 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 Palm Beach
Factors that Affect Solar Panel Costs in Palm Beach
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of solar panels in Palm Beach, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,530 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Palm Beach, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Palm Beach to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Palm Beach is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fits within 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 | $2.63 | $11,051 | $20,329 | 8.8 years |
| 8 kW | $2.58 | $14,451 | $27,388 | 8.6 years |
| 10 kW | $2.53 | $17,710 | $34,590 | 8.5 years |
| 12 kW | $2.48 | $20,827 | $41,933 | 8.3 years |
| 14 kW | $2.43 | $23,802 | $49,417 | 8.1 years |
| 16 kW | $2.38 | $26,636 | $57,044 | 8.0 years |
| 18 kW | $2.33 | $29,328 | $64,812 | 7.8 years |
| 20 kW | $2.28 | $31,878 | $72,721 | 7.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Palm Beach, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
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 Palm Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in Palm Beach?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,045.99 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.