Solar Panel Cost Guide in Miami Shores, FL (2024 Update)
- Miami Shores 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 Miami Shores
We break down average solar pricing in Miami Shores.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Miami Shores, the typical cost of solar panels is 3 per watt.To account for the typical energy needs of the average home in Miami Shores, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $12,068, or $17,257 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Miami Shores 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.Despite the high initial cost, the average Miami Shores homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar installer in Miami Shores that can help you get a more accurate cost estimate for your home.
Solar savings over time in Miami Shores
| 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 Miami Shores
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Miami Shores
Factors that Affect Solar Panel Costs in Miami Shores
The cost of installing a solar system in Miami Shores can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Miami Shores, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, 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.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Miami Shores have solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence the cost. Miami Shores’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better 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 discount can bring their pricing lower to compete with bigger companies.
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 many companies to choose from in Miami Shores, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Miami Shores, FL Solar Cost FAQs
What is the average cost of installing solar panels in Miami Shores?
The average cost of solar panels in Miami Shores is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Miami Shores?
A solar panel system isn’t free in Miami Shores, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
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 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.
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.