Solar Panel Cost Guide in Palm Valley, FL (2024 Update)
- Palm Valley Solar Installation Cost: $12,181
- 25-Year Savings: $22,160
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Palm Valley
Let’s have a look at the average cost of solar panels in Palm Valley.
The national average cost of solar panels is $2.66 per watt, but in Palm Valley it’s 3 per watt.The average Palm Valley homeowner needs a 5.4-kilowatt system, which would cost about $12,181 with the federal tax credit, or $17,419 before the 0 tax credit is applied.
The true cost of your system can go higher or lower than the average in Palm Valley depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.Even with the large upfront cost, the average Palm Valley homeowner can save around $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a top solar company in Palm Valley, you can click the button below.
Solar savings over time in Palm Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-10,807 |
| 3 years | $-8,060 |
| 5 years | $-5,313 |
| 7 years | $-2,565 |
| 9 years | $182 |
| 11 years | $2,929 |
| 13 years | $5,676 |
| 15 years | $8,424 |
| 17 years | $11,171 |
| 19 years | $13,918 |
| 21 years | $16,665 |
| 23 years | $19,413 |
| 25 years | $22,160 |
Top Solar Installers in Palm Valley
Putting up solar panels on your own can be a dangerous task, which is why using a solar installation company is a good option for many homeowners. Another perk of utilizing a solar company is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Palm Valley:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Palm Valley
Factors that Affect Solar Panel Costs in Palm Valley
Even though the average cost of a solar system in Palm Valley is $12,181, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Palm Valley, 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 gauge by looking at past energy bills. Your total cost can increase by around $3,210 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Palm Valley average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Palm Valley homeowners opt to finance their solar panel systems to make paying for solar more affordable.Although solar loans make going solar more accessible for Palm Valley homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Palm Valley is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that provide a range of services for different budgets.Additionally, some companies in Palm Valley know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,908 | 10.6 years |
| 8 kW | $3.27 | $18,336 | $25,570 | 10.4 years |
| 10 kW | $3.21 | $22,470 | $32,412 | 10.2 years |
| 12 kW | $3.15 | $26,425 | $39,433 | 10.0 years |
| 14 kW | $3.08 | $30,200 | $46,635 | 9.8 years |
| 16 kW | $3.02 | $33,795 | $54,016 | 9.6 years |
| 18 kW | $2.95 | $37,210 | $61,577 | 9.4 years |
| 20 kW | $2.89 | $40,446 | $69,318 | 9.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- 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 service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Palm Valley, FL Solar Cost FAQs
What is the average cost of installing solar panels in Palm Valley?
The average cost of solar panels in Palm Valley 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Palm Valley?
You can’t get solar panels for free in Palm Valley. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Palm Valley have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Palm Valley?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.