Solar Panel Cost Guide in Palm Beach, FL (2024 Update)
- Palm Beach Solar Installation Cost: $12,093
- 25-Year Savings: $18,615
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Palm Beach
We go over average solar pricing in Palm Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in Palm Beach typically cost about 3.The average Palm Beach homeowner needs a 5.4-kilowatt system, which would cost about $12,093 with the federal tax credit, or $17,293 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs may vary based on the amount of energy your home requires and what company you go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $20,000 over 20 years on power bills.
To get a free quote from a vetted solar company in Palm Beach, you can click the button below.
Solar savings over time in 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 Palm Beach
Many homeowners decide to use a solar panel installer since figuring out how to install solar panels on your own can be hard. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for you.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Palm Beach
Factors that Affect Solar Panel Costs in Palm Beach
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Palm Beach: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 spend around $3,210 per kilowatt in Palm Beach.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Palm Beach average.
Solar Financing Terms
Many homeowners find the average cost of solar in Palm Beach to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $3.34 | $14,021 | $17,359 | 11.2 years |
| 8 kW | $3.27 | $18,336 | $23,504 | 11.0 years |
| 10 kW | $3.21 | $22,470 | $29,830 | 10.7 years |
| 12 kW | $3.15 | $26,425 | $36,335 | 10.5 years |
| 14 kW | $3.08 | $30,200 | $43,020 | 10.3 years |
| 16 kW | $3.02 | $33,795 | $49,885 | 10.1 years |
| 18 kW | $2.95 | $37,210 | $56,929 | 9.9 years |
| 20 kW | $2.89 | $40,446 | $64,153 | 9.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should choose, since different companies have different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Palm Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Palm Beach?
The average cost of solar panels in Palm Beach is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,045.99 per year.
How long do solar panels last in Palm Beach?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.