Solar Panel Cost Guide in West Palm Beach, FL (2023 Update)
- West Palm Beach Solar Installation Cost: $9,531
- 25-Year Savings: $19,151
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in West Palm Beach
Let's have a look at the average cost of solar in West Palm Beach.
In West Palm Beach, solar panels cost about 2.53 per watt on average. Using this figure, a typical 5.4-kW system would cost about $9,528 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of West Palm Beach homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in West Palm Beach can save around $20,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in West Palm Beach for a quote for your home.
Solar savings over time in West Palm Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-9,435 |
| 3 years | $-9,244 |
| 5 years | $-9,053 |
| 7 years | $-8,862 |
| 9 years | $-8,670 |
| 11 years | $-8,479 |
| 13 years | $-8,288 |
| 15 years | $-8,097 |
| 17 years | $-7,906 |
| 19 years | $-7,714 |
| 21 years | $-7,523 |
| 23 years | $-7,332 |
| 25 years | $-7,141 |
Top Solar Installers in West Palm Beach
Many homeowners choose to hire a solar installer since figuring out how to install solar panels on your own can be a lot of work. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers near you:
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 West Palm Beach
Factors that Affect Solar Panel Costs in West Palm Beach
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in West Palm Beach: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,530. The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 looking into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in West Palm Beach, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for West Palm Beach 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 avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in West Palm Beach is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you'll have many options for solar installers that offer a range of services for different budgets. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due 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 discount can bring their pricing down 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 | $2.63 | $11,051 | $20,926 | 8.6 years |
| 8 kW | $2.58 | $14,451 | $28,185 | 8.5 years |
| 10 kW | $2.53 | $17,710 | $35,586 | 8.3 years |
| 12 kW | $2.48 | $20,827 | $43,128 | 8.1 years |
| 14 kW | $2.43 | $23,802 | $50,812 | 8.0 years |
| 16 kW | $2.38 | $26,636 | $58,638 | 7.8 years |
| 18 kW | $2.33 | $29,328 | $66,605 | 7.6 years |
| 20 kW | $2.28 | $31,878 | $74,714 | 7.5 years |
How to Save on Solar Panels
The company that does your solar panel 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 difficult, we have some tips to help you, such as:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Different companies have various brands and models of panels. If you know you want 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 West Palm Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in West Palm Beach?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in West Palm Beach?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside 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 way to go if you want to maximize your savings.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout West Palm Beach, 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 many solar panels do I need to power my home?
To figure out how many solar panels 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 generally produce about 250 to 400 watt-hours per hour, the average home 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.