Solar Panel Cost Guide in Panama City Beach, FL (2024 Update)
- Panama City Beach Solar Installation Cost: $12,844
- 25-Year Savings: $23,880
- Payback Period: 9.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Panama City Beach
See how much it might cost to make the switch to solar in Panama City Beach.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Panama City Beach, the average cost of a solar system is 3 per watt.The average solar panel system size in Panama City Beach is around 5.7 kilowatts, meaning a cost of about $12,844 for a solar installation, or $18,367 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Panama City Beach based on several factors, such as the model of solar panels you choose and the solar company you hire.With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Panama City Beach find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Panama City Beach for a quote for your home.
Solar savings over time in Panama City Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-11,085 |
| 3 years | $-7,566 |
| 5 years | $-4,048 |
| 7 years | $-529 |
| 9 years | $2,989 |
| 11 years | $6,508 |
| 13 years | $10,026 |
| 15 years | $13,545 |
| 17 years | $17,063 |
| 19 years | $20,582 |
| 21 years | $24,100 |
| 23 years | $27,619 |
| 25 years | $31,137 |
Top Solar Installers in Panama City Beach
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your switch to solar power much easier. Another great thing about using a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you're on the hunt for a solar installer in Panama City Beach, the EcoWatch team has compiled a list of our top suggestions here:
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 Panama City Beach
Factors that Affect Solar Panel Costs in Panama City Beach
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Panama City 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
When it comes to estimating the cost of solar panels in Panama City Beach, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make switching to solar energy more accessible for Panama City Beach homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Panama City Beach, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $21,671 | 9.8 years |
| 8 kW | $3.27 | $18,336 | $29,254 | 9.6 years |
| 10 kW | $3.21 | $22,470 | $37,017 | 9.4 years |
| 12 kW | $3.15 | $26,425 | $44,960 | 9.3 years |
| 14 kW | $3.08 | $30,200 | $53,082 | 9.1 years |
| 16 kW | $3.02 | $33,795 | $61,385 | 8.9 years |
| 18 kW | $2.95 | $37,210 | $69,867 | 8.7 years |
| 20 kW | $2.89 | $40,446 | $78,528 | 8.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Panama City Beach, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When reading over your solar installer’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 installers 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.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Warranty: If you’re worried about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Panama City Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Panama City Beach?
The average cost of solar panels in Panama City 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 things 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 thing to keep in mind when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Panama City Beach?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.