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.
The average cost of solar panels in Miami Shores is 3 per watt.Using this figure, a typical 5.4-kW system would cost about $12,068 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Miami Shores depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Miami Shores can save about $21,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a personalized estimate.
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
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be time-consuming. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your initial investment.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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
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 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
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 gauge by looking at past energy bills. Your total cost can increase by about $3,210 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Miami Shores homeowners opt to finance their solar panel systems to make going solar more affordable.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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Miami Shores know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
The solar installer you opt for will impact 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 take into account, including:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of 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 positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best National Provider
SunPower
- 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
- 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
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.
Can you get solar panels for 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 you can take advantage of.
Is it worth going solar in Miami Shores?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Miami Shores?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.