Solar Panel Cost Guide in Cutler Bay, FL (2024 Update)
- Cutler Bay Solar Installation Cost: $11,975
- 25-Year Savings: $19,594
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Cutler Bay
Let’s have a look at the average cost of solar panels in Cutler Bay.
The national average cost of solar panels is $2.66 per watt, but in Cutler Bay it’s 3 per watt.The average solar panel system size in Cutler Bay is around 5.3 kilowatts, meaning a cost of about $11,975 for a solar installation, or $17,124 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Cutler Bay homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $21,000 on utility bills over 20 years, many homeowners in Cutler Bay find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar installer in Cutler Bay that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cutler Bay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,602 |
| 3 years | $-7,854 |
| 5 years | $-5,107 |
| 7 years | $-2,360 |
| 9 years | $387 |
| 11 years | $3,135 |
| 13 years | $5,882 |
| 15 years | $8,629 |
| 17 years | $11,376 |
| 19 years | $14,124 |
| 21 years | $16,871 |
| 23 years | $19,618 |
| 25 years | $22,365 |
Top Solar Installers in Cutler Bay
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a difficult project. In addition, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you're on the hunt for a solar company in Cutler Bay, we've put together a list of our top suggestions here:
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 Cutler Bay
Factors that Affect Solar Panel Costs in Cutler Bay
Even though the average cost of a solar system in Cutler Bay is $11,975, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Cutler Bay, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Cutler Bay, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Cutler Bay homeowners choose to finance their solar panel systems to make going solar more affordable.Though solar loans make switching to solar energy more accessible for Cutler Bay homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also fits 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 | $18,664 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,245 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $32,006 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,946 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $46,066 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,366 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,846 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,506 | 9.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re concerned about the longevity of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
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 Cutler Bay, FL Solar Cost FAQs
What is the average cost of installing solar panels in Cutler Bay?
The average cost of solar panels in Cutler Bay 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Cutler Bay?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Cutler Bay?
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 higher amount 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.
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.