Solar Panel Cost Guide in Palm City, FL (2023 Update)
- Palm City 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 Palm City
Find out what the average cost of a solar system is in Palm City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Palm City, the typical cost of a solar system is 2.53 per watt. The average solar panel system size in Palm City is around 5.4 kilowatts, meaning a cost of about $9,493 for a solar installation, or $13,575 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Palm City depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a customized quote.
Solar savings over time in Palm City
| 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 Palm City
Although you can install solar panels by yourself, it involves extra labor and know-how. That's one of the reasons most people choose to go with a solar panel installer. The expertise that solar installers provide can be valuable as well, especially if you don't quite know what kind of solar equipment you need.
If you'd like to make the switch to solar but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
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
For many Palm City homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Palm City, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Palm City, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,530 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Palm City have solar loans, which reduce your upfront costs of installing solar. It's a good idea to add 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
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Palm City, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
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. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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?
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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Palm City?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.