Solar Panel Cost Guide in West Palm Beach, FL (2024 Update)
- West Palm Beach Solar Installation Cost: $12,093
- 25-Year Savings: $19,151
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in West Palm Beach
Let’s take a look at the average cost of solar in West Palm Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in West Palm Beach typically cost about 3.To cover the typical energy needs of the average home in West Palm Beach, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $12,093, or $17,293 before the federal solar tax credit of 0 is applied.
The true price you pay can go above or below the average in West Palm Beach based on a few factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the high initial cost, the average West Palm Beach homeowner can save around $20,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free estimate from a vetted solar company in West Palm Beach, you can click the button below.
Solar savings over time in West Palm Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-10,719 |
| 3 years | $-7,972 |
| 5 years | $-5,224 |
| 7 years | $-2,477 |
| 9 years | $270 |
| 11 years | $3,017 |
| 13 years | $5,765 |
| 15 years | $8,512 |
| 17 years | $11,259 |
| 19 years | $14,006 |
| 21 years | $16,753 |
| 23 years | $19,501 |
| 25 years | $22,248 |
Top Solar Installers in West Palm Beach
When making the switch to solar, many homeowners decide to go with a solar company since putting up a solar system yourself can be a difficult project. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some 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
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 West Palm Beach
Factors that Affect Solar Panel Costs in West Palm Beach
For many West Palm Beach 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 West Palm Beach, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over 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 about $3,210. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like West Palm Beach, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
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 system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different costs.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,956 | 11.0 years |
| 8 kW | $3.27 | $18,336 | $24,301 | 10.8 years |
| 10 kW | $3.21 | $22,470 | $30,826 | 10.5 years |
| 12 kW | $3.15 | $26,425 | $37,530 | 10.3 years |
| 14 kW | $3.08 | $30,200 | $44,415 | 10.1 years |
| 16 kW | $3.02 | $33,795 | $51,479 | 9.9 years |
| 18 kW | $2.95 | $37,210 | $58,722 | 9.7 years |
| 20 kW | $2.89 | $40,446 | $66,146 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies available in West Palm Beach, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 West Palm Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in West Palm Beach?
The average cost of solar panels in West Palm Beach 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in West Palm Beach?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,065.92 per year.
How long do solar panels last in West Palm Beach?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.