Solar Panel Cost Guide in Palm City, FL (2024 Update)
- Palm City Solar Installation Cost: $12,054
- 25-Year Savings: $19,658
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Palm City
We go over average solar pricing in Palm City.
The average cost of a solar system in Palm City is 3 per watt.Using this figure, a typical 5.4-kW system would cost about $12,054 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Palm City homeowner. The price 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 a solar panel system is a sound investment. The average homeowner in Palm City can save around $21,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Palm City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,680 |
| 3 years | $-7,933 |
| 5 years | $-5,186 |
| 7 years | $-2,439 |
| 9 years | $309 |
| 11 years | $3,056 |
| 13 years | $5,803 |
| 15 years | $8,550 |
| 17 years | $11,298 |
| 19 years | $14,045 |
| 21 years | $16,792 |
| 23 years | $19,539 |
| 25 years | $22,287 |
Top Solar Installers in Palm City
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be hard. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Palm City:
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 Palm City
Factors that Affect Solar Panel Costs in Palm City
Although the average cost of a solar system in Palm City is $12,054, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,210.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Palm City, where sunlight is abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Palm City homeowners decide to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence how much you pay. Palm City’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $18,592 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,149 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $31,885 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,802 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,898 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,173 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,629 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,264 | 9.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Palm City, FL Solar Cost FAQs
How much does it cost to install solar panels in Palm City?
The average cost of solar panels in Palm City 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 things like the model 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 Palm City?
Leasing solar panels can be an appealing choice, as it typically 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 option if you want to maximize your savings.
Is it worth going solar in Palm City?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.