Solar Panels Cost 10k-19k in Panama City, FL | October, 2024

Solar Panels Cost $10k-$19k in Panama City, FL | October, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

How much do solar panels cost in Panama City, FL in 2024?

Solar panel installations in Panama City, FL in the month of October, 2024 have an average cost of $3.1 per watt.

Each 1 kW (1000 watts) of solar power capacity will require an investment of $3,100 for installation. When you deduct the 30% federal tax credit, a 5 kW solar system in Panama City will cost approximately $10,850. To ensure your energy needs are met, you could require a larger system.

By selecting your county on the left, you can see the average roof size and the average maximum capacity for residential solar panel systems in your area. See below a comprehensive breakdown of the {price|costs, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Panama City: $10,850US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Panama City: 5 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Panama City: $24,453US Average: $15,784

Solar Potential in Panama City

Estimated system size and solar electricity production per median viable roof in
Panama City.

Roof size 947sq. ft.
Capacity 13.25kW DC
Electricity 17.2kkWh AC per yr.

Electricity Costs in Panama City, FL & What that Means for Your Solar Panel Pricing

The monthly kWh usage for a Panama City energy consumer is 1,130, with a typical electric bill of $166.47. Compact residences, such as efficiency studios and apartments, are also part of the figures mentioned in the previous sentence.

Panama City, FL's electricity rate is 14.73¢ per kWh in October 2024.

To account for the electricity consumption of a typical consumer in Panama City, a solar power system of 9 kW or higher is a must. Before incentives, a 9 kW solar setup is around $27,900, with the federal tax credit providing 30% back, reducing the price to $19,530.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Panama City

On the left and below, there is the price breakdown for multiple sizes of the solar panel systems set up in Panama City. With bigger solar systems, the price rises, but so do the electricity savings and the income tax credits you can receive.

In the solar panel cost calculator situated to the right and below, you can see a cost and benefit breakdown to match an average $166.47electric bill in Panama City. Modify the $166.47 to your average electricity bill payment for more accurate results.

System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,258 a year
Est. Price
$10,850
Savings from a 5kWthis system
  • Est. yearly production 8,386 kWh
  • Est. monthly savings $105
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 0.92 tons a year
  • Equivalent to planting 42 trees a year
  • Equivalent to driving 2,271 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,510 a year
Est. Price
$13,020
Savings from a 6kWthis system
  • Est. yearly production 10,064 kWh
  • Est. monthly savings $126
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.1 tons a year
  • Equivalent to planting 51 trees a year
  • Equivalent to driving 2,726 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,761 a year
Est. Price
$15,190
Savings from a 7kWthis system
  • Est. yearly production 11,741 kWh
  • Est. monthly savings $147
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 1.28 tons a year
  • Equivalent to planting 59 trees a year
  • Equivalent to driving 3,180 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $2,013 a year
Est. Price
$17,360
Savings from a 8kWthis system
  • Est. yearly production 13,418 kWh
  • Est. monthly savings $166
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 1.45 tons a year
  • Equivalent to planting 67 trees a year
  • Equivalent to driving 3,597 mi less a year
System Size 9kW
Roof Size Min. space required
644 ft²
Electricity Value Annual Production $2,264 a year
Est. Price
$19,530
Savings from a 9kWthis system
  • Est. yearly production 15,095 kWh
  • Est. monthly savings $166
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 1.45 tons a year
  • Equivalent to planting 67 trees a year
  • Equivalent to driving 3,597 mi less a year

Panama City Solar Panel Installation Incentives & Rebates | 2024

Small businesses and agricultural enterprises in rural areas may see between 80% and 100% of their photovoltaic or wind turbine installation costs covered by the REAP Grant. Wondering about your eligibility? Use our REAP Grant eligibility tool to check.

When it comes to residential solar, the majority of people qualify for the 30% federal income tax credit, which makes solar a sensible option in most regions of the nation. In addition, many state and local programs work to further encourage the adoption of solar power.

In Florida, different utilities and government bodies offer 19 solar rebate and incentive programs.

Beaches Energy Services - Residential Energy Efficiency Rebate Program

Value:Up to $300

Residential Beaches Energy Services customers undertaking energy efficiency improvements may be entitled to rebates. Available incentive programs and eligible projects will vary from time to time. Current programs target insulation/weatherization, windows, and HVAC systems and components with efficiency certifications. Customers may apply online within 60 days of project installation. However, they must submit the rebate paperwork before the project is completed. Once an application is approved, BES will either pay the rebate directly or apply it as a bill credit. Information on current programs is available from the BES website.

Clay Electric Cooperative, Inc - Energy Smart Energy Efficiency Rebate Program

Value:Up to $600

Residential Clay Electric Cooperative members undertaking energy efficiency improvements may be entitled to rebates. Available incentive programs and eligible projects will vary from time to time. Current programs include windows/screens, insulation/weatherization up to R-19, heat pumps, and solar water heating. Special financing may be available through CEC for these and other energy efficiency projects. Once an application is approved, CEC will apply the rebate amount as a monthly bill credit. Information on current programs is available from the CEC website.

Florida Keys Electric Cooperative - Residential Rebate Program

Value:Up to $500

Residential customers with the Florida Keys Electric Cooperative may be entitled to rebates on energy-efficient systems and components. Available programs will vary from time to time. Current rebate offers include HVAC, ductwork, insulation/weatherization, windows, roofing, and weather-stripping. Customers must apply for a rebate before purchasing the applicable product(s). The application process involves a property audit with an FKEC professional; only improvements the auditor recommends will be approved for incentives. There is no fee or required purchase commitment to have an audit done. Additional information is available from the FKEC website.

Clay Electric Cooperative, Inc - Solar Thermal Loans

Value:Up to $1,000

Residential and commercial Clay Electric Cooperative members may be eligible for special financing on energy-efficient thermal upgrades, including solar water and pool heating. Interest rates will vary but remain consistently low. Applicants should have been CEC members for more than one year. A $25 administrative processing fee should be attached to the application paperwork. Reviewers will consider credit and CEC bill payment history. Members are also required to undergo an energy audit to verify solar access. Additional information is available from the CEC website.

Clay Electric Cooperative, Inc - Solar Thermal Loans

Value:Up to $7,500

Residential and commercial Clay Electric Cooperative members may be eligible for special financing on energy-efficient thermal upgrades, including solar water and pool heating. Interest rates will vary but remain consistently low. Applicants should have been CEC members for more than one year. A $25 administrative processing fee should be attached to the application paperwork. Reviewers will consider credit and CEC bill payment history. Members are also required to undergo an energy audit to verify solar access. Additional information is available from the CEC website.

Solar Contractor Licensing

Value:Varies

Florida has offered dedicated solar contracting licenses in some form for the past several decades. Current licensing options allow a contractor to conduct a broad variety of solar work, including PV systems, water heating, pool heating, and HVAC on any property type. Despite the scope of Florida licensure, solar contractors may need to yield to roofing contractors for some panel installations. Applicants for licensure should have four years of practical and/or educational experience and at least one year of supervision experience. They must also pass an exam. Additional information is available through the FLASEIA website.

JEA - Clean Power Program

Value:Varies

The Jackson Energy Authority has previously agreed to renewable energy and anti-pollution goals in conjunction with the American Lung Association and Sierra Club. The first of these goals, set in 1999, required the Authority to generate 7.5% of its energy from renewable sources by 2015. Currently, the JEA grid can distribute 95 MW of renewably-sourced energy per year from area solar farms, biomass/biogas plants, and wind turbines.

JEA - Solar Incentive Program

Value:Varies

Residential Jackson Energy Authority customers who purchase and install new solar water heaters may be eligible for a $400 incentive. Eligible projects include both new installation and retrofits. Only water heaters may earn rebates; pool heaters are not applicable. Incentives may be prorated if their total exceeds that of the combined purchase price and installation costs. Additional information is available from the JEA website.

Clay Electric Cooperative, Inc - Energy Conservation Loans

Value:Varies

Residential and commercial Clay Electric Cooperative members may be eligible for special financing on various energy efficiency projects. The maximum available principal is $7,500 with varying interest rates and payment plans. The program is only applicable to residents of fourteen northern peninsular counties, including the cities of Gainesville, Lake City, Keystone Heights, and Salt Springs. Administrative and processing fees are $25. Additional information is available from the CEC website.

Clay Electric Cooperative, Inc - Energy Smart Solar Water Heater Rebate Program

Value:Varies

Residential Clay Electric Cooperative members may be entitled to rebates should they install a new active or passive solar water heater. Rebate amounts vary depending on capacity, but they top out at $600 for a 60,000 BTU system. Qualifying systems should satisfy state standards and be installed by a participating solar contractor. Additional information is available from the CEC website.

Beaches Energy Services - Solar Water Heating Rebate Program

Value:Varies

Residential Beaches Energy Services customers may be entitled to a $500 one-time rebate upon installation of a new solar water heater. A qualifying system must meet FSEC state standards, and its installation should be supervised by a state-licensed solar contractor. Within 60 days of the water heater's installation, customers may download an incentive application form from the BES website. Applications will be reviewed and rebates awarded within four to six weeks.

Florida Keys Electric Cooperative - Solar Loan Program

Value:Varies

Residential or commercial Lakeland Electric customers may be eligible for specialized energy efficiency loans to fund improvement projects. Loans are interest-free and may be in any amount from $500 to $5,000. Funding can be used to purchase and install solar panels, wind turbines, heat pumps, solar thermal systems, HVAC systems, windows, or insulation/weatherization. Processing fees apply at the beginning of the loan; they will appear as a charge on customer utility bills. Monthly payments after fees will be collected by LE's banking partners. Additional information is available through the LE website.

Solar and Energy Loan Fund (SELF)

Value:Varies

Florida has operated the statewide Solar and Energy Loan Fund (SELF) since 2010. SELF operates as a nonprofit agency offering special financing to certain homeowners to make energy efficiency improvements. SELF loans can pay for new HVAC, roofing, insulation, windows/doors, and accessibility products. Loans may also be used to install new solar PV, water heating, or space heating systems. Interest rates may vary, but they will remain consistently low. The maximum principal is currently $50,000. Additional information is available from the SELF website.

Solar Equipment Certification

Value:Varies

The Florida Solar Energy Center, or FSEC, was established by an act of the state legislature in 1976. FSEC is responsible for establishing and updating state certification standards and codes for solar panels and related equipment used in the state. Any manufacturer may apply for FSEC certification. The Center will test product samples under both normal operation and extreme conditions. Periodic re-tests may be conducted to ensure continued compliance with amended standards. Additional information is available from the FSEC website.

Hillsborough County - Solar and Wind Standards

Value:Varies

Hillsborough County has its own "renewable energy codes" which property owners installing a new PV, solar thermal, or small wind system must meet. Below is a sampling of the most important regulations. For on-ground solar energy systems on farms or other lots of at least five acres, new systems may have a maximum height of 15 feet with all wiring located underground. They should be fenced in and "set back" at least 50 feet from all lot lines. For small wind energy systems, height limits of 45 feet in residential areas and 120 feet in other areas apply. The county requires turbine noise to be kept to a minimum and all precautions to be taken to protect birds and other wildlife. Regulations are not limited to the above. Additional information and guidelines are available from the county website.

Florida PACE programs

Value:Varies

Through the Florida PACE program, both residential and commercial property owners may utilize an "open marketplace" to acquire offers and financing on energy efficiency improvement projects. Effectively, PACE loans come from the state government. Payments are not collected by conventional means; rather, local assessors will service the loan by placing a non-accelerated lien (senior to mortgages) on the property. This means that should the owner sell or transfer their property, payments will become the responsibility of the new owner. PACE markets are only open in certain Florida counties, and each market operates under differing policies. For residential PACE applicants, certain safeguards including loss reserve funds and disclosures are in place per FHFA directives. Both Fannie Mae and Freddie Mac cannot acquire a mortgage with a PACE lien due to its seniority. Additional information is available through the Florida PACE website.

Broward County - Rooftop Solar System Permit Standard

Value:Varies

To promote the adoption and installation of solar systems, Broward County has adopted a solar rights ordinance. No association or municipality may enact a complete ban on rooftop solar panels. However, the county has established a set of "solar codes" for new renewable energy installations to follow. For example, solar panels cannot extend five feet higher than a flat roof or above the apex of a slanted roof. Solar permits in the county do not override reasonable regulations which may be set by HOAs or localities. Further, they may not be used by themselves to justify landscaping for solar access (i.e. tree removal or trimming.) Additional information is available from the county website.

Energy Conservation in Public Buildings

Value:Varies

A 2007 law requires the Floridian government to adopt energy-efficient building and generation standards. Currently, the state must cut its greenhouse gas emissions by 40% by 2025. Any new construction should be designed to achieve an optimum ratio of LEED certification level to project cost. Where it is financially sustainable, new state buildings and public schools should seek to adopt at least a solar thermal system for water and space heating. Compliance is enforced through a group of specialized green building inspectors trained at local community colleges. Occasionally, the state may enter contracts with existing buildings to provide assistance with energy efficiency and other sustainable improvements.

Broward County Online Solar Permitting

Value:Varies

Go SOLAR is the new online portal for solar equipment permits in Broward County. Any residential or small business property may use the system for their regulatory needs when installing a new PV system. Go SOLAR's design has allowed the county to condense solar permit applications to one common form. Applicants are limited to selecting from a finite list of "pre-authorized" designs and plans; while they may submit their own documentation for a custom design, they must do so in person. Additional information is available through the portal itself.

Are solar panels worth it in Florida?

Homeowners in Panama City who expect to live in their residence beyond the payback period of their solar system will find solar panels an obvious choice. Installing a 5 kW solar system in Panama City, FL will, on average, save you $29,102.8 over 20 years, and you can expect to break even in about 5 years.

The cost of not having solar panels in Panama City, FL

The lack of solar panels or an alternative energy backup means you'll forgo the earlier mentioned savings and be entirely reliant on your electric utility for power. Recent news has proven that total reliance on your utility company isn't always the best option.

Customers in Panama City face roughly 1.21 outages per year. On average, an outage lasts 151.12 minutes. Major events such as winter storms, aging infrastructure, or planned maintenance can significantly extend these time frames.

Even without a backup battery, a solar panel system can reduce the pressure of future outages you may experience.

Power Outages

Currently, 0 customers are being tracked in Bay County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

What impacts the cost of solar panels in Panama City, FL?

Your Energy Needs - Larger solar panel systems have a larger initial cost, yet the average cost per watt drops as the system size grows. Most individuals find it useful to set up a solar system that can generate enough electricity to replace the entirety of their electric bill. This math makes the most sense for increased savings.

Make & Model - Just like other products, solar panels come in a variety of makes and models. As your installer may prefer specific brands, it's important to choose a highly rated installer. For consumers wanting a more favorable long-term experience, choosing higher quality makes and models is critical.

Solar Panel Type - It's understandable that monocrystalline panels are now the industry standard. They are more expensive but provide more energy. Many professionals in solar installation utilize panels constructed from this material.

Your Property - Each property and home has its own characteristics. Factors like uneven ground, trees, or other considerations can make the installation more challenging. By using satellite images, most solar installers nowadays can assess your home and incorporate these elements into the initial cost estimate.

Labor Rates - The varied employee wages paid by companies result in costs that consumers eventually paying . Higher wages often correlate with better reviews for companies' services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will influence your installation cost. Good installers will factor these costs into your first quotes to prevent unexpected expenses.

See what solar panels cost in other FL cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Panama City?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.

Powur PBC

Del Mar, CA(866) 467-6987

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Solar Advantage

Odessa CDP, FL(813) 399-1231

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

ESA Solar Energy

Maitland, FL(407) 329-5480

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Plug PV

Albany, NY(518) 948-5316

Services

  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Go Solar Power

Boca Raton, FL(800) 530-9597

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Sun4

Coral Gables, FL(786) 833-7864

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.

Pure Energy

Gainesville, FL(352) 377-6527

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Solar Energy World

Elkridge CDP, MD(866) 856-4580

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

CES

Middletown, CT(860) 632-1682

Services

  • Consulting on all things solar related.
  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Entero Energy

Austin, TX(512) 551-0742

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Consulting on all things solar related.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.

ConEdison Solutions

Valhalla CDP, NY(914) 286-7000

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Fluent Solar

Lindon, UT(866) 736-1253

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PE Solar

Tempe, AZ(480) 264-0690

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Advanced Roofing

Fort Lauderdale, FL(800) 638-6869

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

Precision Renewables

Snyderville CDP, UT(435) 602-4120

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

A1A Solar Contracting

Jacksonville, FL(904) 468-7861

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.

Badass Energy

Claremont, CA(909) 320-9860

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Consulting on all things solar related.

FL Commercial Solar

Parkland, FL(954) 526-5030

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Panama City, FL Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Panama City, FL has reached $3.1/W. Installing a 5 kW solar panel system in Panama City, FL will cost approximately $10,850 after applying the federal tax credit.

  • Utilities and government agencies in Florida are currently offering 19 different rebates and incentives. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Paying in cash results in the highest savings, but there are numerous financing options available today for solar panels that are also cost-effective. Financing options are often provided by installers and may be included in your initial quotes.

  • Yes, in Panama City, FL, 5 kW solar panel systems usually pay off in 5 years, providing an average electricity cost savings of $29,102.8 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01