Solar Panel Cost Guide in Key Biscayne, FL (2024 Update)

  • Key Biscayne Solar Installation Cost: $12,014
  • 25-Year Savings: $19,689
  • Payback Period: 10.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Key Biscayne

Let’s take a look at the average cost of solar panels in Key Biscayne.

While the national average of solar panels is $2.66 per watt, solar panels in Key Biscayne typically cost about 3.Using this figure, a typical 5.3-kW system would cost about $12,014 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Key Biscayne homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a solid investment. The average homeowner in Key Biscayne can save about $21,000 on their energy bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Key Biscayne that can help you get a more accurate cost estimate for your home.

Solar savings over time in Key Biscayne

Year Return on Investment
1 years $-10,641
3 years $-7,894
5 years $-5,146
7 years $-2,399
9 years $348
11 years $3,095
13 years $5,843
15 years $8,590
17 years $11,337
19 years $14,084
21 years $16,832
23 years $19,579
25 years $22,326

Top Solar Installers in Key Biscayne

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.

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 nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Key Biscayne

Factors that Affect Solar Panel Costs in Key Biscayne

Though the average cost of a solar system in Key Biscayne is $12,014, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Key Biscayne, one of the most important 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 usage, which you can gauge by looking at past power bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Key Biscayne average.

Solar Financing Terms

If paying for solar panels in cash is out of reach, 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.However, the interest on solar loans also increases your overall costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

Finally, the company you get to install your solar panels can affect your pricing. Key Biscayne’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.

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 $18,699 10.7 years
8 kW $3.27 $18,336 $25,291 10.5 years
10 kW $3.21 $22,470 $32,063 10.3 years
12 kW $3.15 $26,425 $39,015 10.1 years
14 kW $3.08 $30,200 $46,147 9.9 years
16 kW $3.02 $33,795 $53,459 9.7 years
18 kW $2.95 $37,210 $60,950 9.5 years
20 kW $2.89 $40,446 $68,621 9.3 years

How to Save on Solar Panels

The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:

  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
  • Warranty: If you’re worried about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Key Biscayne, FL Solar Cost FAQs

How much does it cost to install solar panels in Key Biscayne?

This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Key Biscayne?

You can’t get solar panels for free in Key Biscayne. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

How will solar panels impact my home 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 Key Biscayne is currently $1,563,828, so you could be looking at a value of about $64,117 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Key Biscayne is a worthwhile investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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.

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