Renault's return to F1 as a works outfit following the buyout of Lotus has been a laborious affair, with the French outfit forced to re-learn the ropes of Grand Prix racing, and scoring just three championship points during its come-back campaign.
Futhermore, it's foundation was unsettled over the winter by the departures of Kevin Magnussen and team boss Frédéric Vasseur, but Palmer insists that good progress is in the works and will not be derailed by changes to the team's personnel.
"Fred left, which was a shame, but we've still got Cyril [Abiteboul], Jerome Stroll as well, so these guys have run Formula 1 teams and been very senior in Renault," Palmer told Sky Sports New HQ.
"So we're still in very good hands and in a way things are maybe a little bit simpler now.
"The feeling in the team is this is a year where we can actually do something. Last year we had our hands tied a little bit from the problems with Lotus, this year it's a proper Renault stamp on everything.
"Everyone is super excited to get going and see if we can get back towards that."
At the end of the day, and with a year of experience under his belt, Palmer believes teh future bodes well for Renault and for himself.
"I'm with a manufacturer team, a team that I believe is going places, and even if I didn't show last year I'm sure that the results will come," he added.
"I'm in a much better position here now and I'm looking forward to 2017."