Solar Panel Cost Guide in Bay Harbor Islands, FL (2025 Update)
- Bay Harbor Islands Solar Installation Cost: $12,068
- 25-Year Savings: $19,647
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Bay Harbor Islands
Find out what the average cost of solar panels are in Bay Harbor Islands.
In Bay Harbor Islands, solar panels cost about 3 per watt on average.Because a 5.4-kW system is needed to cover the energy consumption of a typical home in Bay Harbor Islands, the average price of going solar will be about $12,068 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with.Despite the significant initial cost, the average Bay Harbor Islands homeowner can save around $21,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a highly rated solar company in Bay Harbor Islands, you can click the button below.
Solar savings over time in Bay Harbor Islands
| Year | Return on Investment |
|---|---|
| 1 years | $-10,695 |
| 3 years | $-7,947 |
| 5 years | $-5,200 |
| 7 years | $-2,453 |
| 9 years | $294 |
| 11 years | $3,042 |
| 13 years | $5,789 |
| 15 years | $8,536 |
| 17 years | $11,283 |
| 19 years | $14,031 |
| 21 years | $16,778 |
| 23 years | $19,525 |
| 25 years | $22,272 |
Top Solar Installers in Bay Harbor Islands
Although you can install solar panels by yourself, it involves extra time and handiness. That's one of the reasons most people choose to go with a solar panel installer. Also, if you’d like to maximize your investment in solar, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Bay Harbor Islands:
See all of the solar companies in Bay Harbor Islands
Factors that Affect Solar Panel Costs in Bay Harbor Islands
The cost of installing a solar system in Bay Harbor Islands can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately gauge 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 choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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 for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Bay Harbor Islands to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the massive popularity of clean energy solutions in Bay Harbor Islands, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $18,553 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,097 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,821 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,724 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,808 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,071 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,513 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,136 | 9.3 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should opt for, since different companies have different panels.
EcoWatch's Bay Harbor Islands, FL Solar Cost FAQs
How much does it cost to install solar panels in Bay Harbor Islands?
The average cost of solar panels in Bay Harbor Islands 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Bay Harbor Islands?
Solar panels aren’t free in Bay Harbor Islands, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bay Harbor Islands is currently $617,440, so you can expect a value of about $25,315 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bay Harbor Islands is a worthwhile investment.
How long do solar panels last in Bay Harbor Islands?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.