Solar Panel Cost Guide in Panama City Beach, FL (2024 Update)
- Panama City Beach Solar Installation Cost: $12,844
- 25-Year Savings: $23,880
- Payback Period: 9.4 Years
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Average Cost of Solar Panels in Panama City Beach
See how much it might cost to make the switch to solar in Panama City Beach.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Panama City Beach, the average cost of a solar system is 3 per watt.The average Panama City Beach homeowner needs a 5.7-kilowatt system, which would cost about $12,844 with the federal tax credit, or $18,367 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs may look different based on your energy needs and what company you want to go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Panama City Beach can save around $23,000 on their electricity bills over 20 years.
To receive a free estimate from a vetted solar installer in Panama City Beach, you can click the button below.
Solar savings over time in Panama City Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-11,085 |
| 3 years | $-7,566 |
| 5 years | $-4,048 |
| 7 years | $-529 |
| 9 years | $2,989 |
| 11 years | $6,508 |
| 13 years | $10,026 |
| 15 years | $13,545 |
| 17 years | $17,063 |
| 19 years | $20,582 |
| 21 years | $24,100 |
| 23 years | $27,619 |
| 25 years | $31,137 |
Top Solar Installers in Panama City Beach
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make switching to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you’d like to go solar but still aren’t sure 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
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 Panama City Beach
Factors that Affect Solar Panel Costs in Panama City Beach
Even though the average cost of a solar system in Panama City Beach is $12,844, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,210. The type of solar equipment you choose can increase or decrease your cost 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, add-on products, such as solar batteries, can bump up your total well above the Panama City Beach 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 Panama City Beach homeowners choose 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 higher down payment, 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 will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.34 | $14,021 | $21,671 | 9.8 years |
| 8 kW | $3.27 | $18,336 | $29,254 | 9.6 years |
| 10 kW | $3.21 | $22,470 | $37,017 | 9.4 years |
| 12 kW | $3.15 | $26,425 | $44,960 | 9.3 years |
| 14 kW | $3.08 | $30,200 | $53,082 | 9.1 years |
| 16 kW | $3.02 | $33,795 | $61,385 | 8.9 years |
| 18 kW | $2.95 | $37,210 | $69,867 | 8.7 years |
| 20 kW | $2.89 | $40,446 | $78,528 | 8.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you’d like plays a part in which company you should opt for, since different companies have different panels.
- Warranty: If you’re concerned about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Panama City Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in Panama City Beach?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Panama City Beach?
Each state has some kind 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 electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 install between 20 and 35 panels to account for 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.