Solar Panel Cost Guide in Miami Springs, FL (2023 Update)
- Miami Springs Solar Installation Cost: $9,493
- 25-Year Savings: $19,666
- Payback Period: 8.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Miami Springs
Let's have a look at the average cost of solar in Miami Springs.
The average cost of a solar system in Miami Springs is 2.53 per watt. The average solar panel system size in Miami Springs is around 5.4 kilowatts, meaning a cost of about $9,493 for a solar installation, or $13,575 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $21,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Miami Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-8,326 |
| 3 years | $-5,994 |
| 5 years | $-3,661 |
| 7 years | $-1,328 |
| 9 years | $1,005 |
| 11 years | $3,337 |
| 13 years | $5,670 |
| 15 years | $8,003 |
| 17 years | $10,335 |
| 19 years | $12,668 |
| 21 years | $15,001 |
| 23 years | $17,333 |
| 25 years | $19,666 |
Top Solar Installers in Miami Springs
Although you can install solar panels by yourself, it involves extra effort and know-how. For that reason, almost all homeowners choose a solar panel installer. The expertise that solar companies offer can be useful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
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 Springs
Factors that Affect Solar Panel Costs in Miami Springs
Even though the average cost of a solar system in Miami Springs is $9,493, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Miami Springs, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,530 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Miami Springs, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $21,572 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $29,046 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,662 | 8.1 years |
| 12 kW | $2.48 | $20,827 | $44,419 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,318 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,359 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,541 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,866 | 7.3 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 select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which company you should choose, since different companies have different panels.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Springs, FL Solar Cost FAQs
How much does it cost to install solar panels in Miami Springs?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,087.44 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.