Solar Panel Cost Guide in Royal Palm Estates, FL (2023 Update)
- Royal Palm Estates Solar Installation Cost: $9,528
- 25-Year Savings: $19,631
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Royal Palm Estates
Let's have a look at the average cost of solar in Royal Palm Estates.
The national average cost of solar panels is $2.66 per watt, but in Royal Palm Estates it's 2.53 per watt. To cover the typical energy needs of the average home in Royal Palm Estates, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $9,528, or $13,625 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar system you choose, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average Royal Palm Estates homeowners see about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Royal Palm Estates for a customized quote.
Solar savings over time in Royal Palm Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-8,362 |
| 3 years | $-6,029 |
| 5 years | $-3,696 |
| 7 years | $-1,364 |
| 9 years | $969 |
| 11 years | $3,302 |
| 13 years | $5,635 |
| 15 years | $7,967 |
| 17 years | $10,300 |
| 19 years | $12,633 |
| 21 years | $14,965 |
| 23 years | $17,298 |
| 25 years | $19,631 |
Top Solar Installers in Royal Palm Estates
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy needs, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar installer in Royal Palm Estates, the EcoWatch team has put together 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
See all of the solar companies in Royal Palm Estates
Factors that Affect Solar Panel Costs in Royal Palm Estates
For many Royal Palm Estates homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Royal Palm Estates, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,530 per kilowatt in Royal Palm Estates. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Royal Palm Estates, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make switching to solar energy more accessible for Royal Palm Estates 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
The remaining key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Royal Palm Estates, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering 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 vehicle 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 | $21,458 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,894 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,471 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,191 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,052 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,054 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,199 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,485 | 7.4 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly 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 quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
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 Royal Palm Estates, FL Solar Cost FAQs
What is the average cost of installing solar panels in Royal Palm Estates?
This is a tough question to answer precisely, because the cost depends on a few different 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 higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Royal Palm 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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Royal Palm Estates?
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 larger amount 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.