Solar Panel Cost Guide in Palmetto Estates, FL (2024 Update)
- Palmetto Estates Solar Installation Cost: $11,993
- 25-Year Savings: $19,454
- Payback Period: 10.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Palmetto Estates
We break down average solar pricing in Palmetto Estates.
In Palmetto Estates, solar panels cost about 3 per watt on average.The average solar panel system size in Palmetto Estates is around 5.3 kilowatts, meaning a cost of about $11,993 for a solar installation, or $17,150 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Palmetto Estates based on several factors, such as the kind of solar panels you choose and the solar installer you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Palmetto Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-10,619 |
| 3 years | $-7,872 |
| 5 years | $-5,125 |
| 7 years | $-2,378 |
| 9 years | $370 |
| 11 years | $3,117 |
| 13 years | $5,864 |
| 15 years | $8,611 |
| 17 years | $11,359 |
| 19 years | $14,106 |
| 21 years | $16,853 |
| 23 years | $19,600 |
| 25 years | $22,348 |
Top Solar Installers in Palmetto Estates
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring an installer can make switching to solar power much easier. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're searching for a solar company in Palmetto Estates, we've compiled a list of our top suggestions here:
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 Palmetto Estates
Factors that Affect Solar Panel Costs in Palmetto Estates
The cost of installing a solar system in Palmetto Estates can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Palmetto Estates, 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 usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,210 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 Palmetto Estates, where sunlight is abundant, efficiency can quickly pay off. Plus, 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 utility bills over many years, but they can also be a big investment. That’s why many Palmetto Estates homeowners opt to finance their solar panel systems to offset upfront costs.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $18,474 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $24,992 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,689 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,567 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,624 | 10.0 years |
| 16 kW | $3.02 | $33,795 | $52,860 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,277 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,873 | 9.3 years |
How to Save on Solar Panels
There are many companies available in Palmetto Estates, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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
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 Palmetto Estates, FL Solar Cost FAQs
What is the average cost of installing solar panels in Palmetto Estates?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Palmetto Estates?
Leasing solar panels can be an appealing choice, because it commonly 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 get the most savings.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Palmetto Estates, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.