Solar Panel Cost Guide in Palm River-Clair Mel, FL (2024 Update)
- Palm River-Clair Mel Solar Installation Cost: $12,394
- 25-Year Savings: $16,463
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Palm River-Clair Mel
Here’s how much it might cost to go solar in Palm River-Clair Mel.
Although the national average of solar panels is $2.66 per watt, solar panels in Palm River-Clair Mel typically cost about 3.Using this figure, a typical 5.5-kW system would cost about $12,394 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Palm River-Clair Mel depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on power bills.
To receive a free estimate from a pre-vetted solar company in Palm River-Clair Mel, you can click the button below.
Solar savings over time in Palm River-Clair Mel
| Year | Return on Investment |
|---|---|
| 1 years | $-11,069 |
| 3 years | $-8,418 |
| 5 years | $-5,767 |
| 7 years | $-3,116 |
| 9 years | $-466 |
| 11 years | $2,185 |
| 13 years | $4,836 |
| 15 years | $7,486 |
| 17 years | $10,137 |
| 19 years | $12,788 |
| 21 years | $15,439 |
| 23 years | $18,089 |
| 25 years | $20,740 |
Top Solar Installers in Palm River-Clair Mel
When switching to solar energy, many homeowners choose to go with a solar installer since DIY solar panel installation can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our suggestions 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 Palm River-Clair Mel
Factors that Affect Solar Panel Costs in Palm River-Clair Mel
For many Palm River-Clair Mel homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Palm River-Clair Mel, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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
Many homeowners find the average cost of solar in Palm River-Clair Mel to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to 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 all-in costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies in Palm River-Clair Mel, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you want and also is within your budget.
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 | $14,513 | 12.3 years |
| 8 kW | $3.27 | $18,336 | $19,710 | 12.0 years |
| 10 kW | $3.21 | $22,470 | $25,087 | 11.8 years |
| 12 kW | $3.15 | $26,425 | $30,643 | 11.6 years |
| 14 kW | $3.08 | $30,200 | $36,380 | 11.3 years |
| 16 kW | $3.02 | $33,795 | $42,296 | 11.1 years |
| 18 kW | $2.95 | $37,210 | $48,392 | 10.9 years |
| 20 kW | $2.89 | $40,446 | $54,667 | 10.6 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar company. Confirm that you understand how the installation process works and the project timeline.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Palm River-Clair Mel, FL Solar Cost FAQs
How much does it cost to install solar panels in Palm River-Clair Mel?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear 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 Palm River-Clair Mel?
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 offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.