Solar Panel Cost Guide in Miami Springs, FL (2024 Update)
- Miami Springs Solar Installation Cost: $12,050
- 25-Year Savings: $19,661
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Miami Springs
We go over average solar pricing in Miami Springs.
While the national average of solar panels is $2.66 per watt, solar panels in Miami Springs typically cost about 3.To cover the typical energy usage of the average home in Miami Springs, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $12,050, or $17,232 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Miami Springs homeowners see about $21,000 in savings on energy bills over 20 years.
To receive a free estimate from a vetted solar installation company in Miami Springs, you can click the button below.
Solar savings over time in Miami Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,677 |
| 3 years | $-7,929 |
| 5 years | $-5,182 |
| 7 years | $-2,435 |
| 9 years | $312 |
| 11 years | $3,060 |
| 13 years | $5,807 |
| 15 years | $8,554 |
| 17 years | $11,301 |
| 19 years | $14,049 |
| 21 years | $16,796 |
| 23 years | $19,543 |
| 25 years | $22,290 |
Top Solar Installers in Miami Springs
Many homeowners choose to use a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
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 Springs
Factors that Affect Solar Panel Costs in Miami Springs
There are a number of criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy 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 figure out by looking at past power bills. Your total cost can increase by around $3,210 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Miami Springs, where sunlight is abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.34 | $14,021 | $18,602 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,162 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $31,902 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,821 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,921 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,200 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,659 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,298 | 9.3 years |
How to Save on Solar Panels
There are a large number of companies available in Miami Springs, and some homeowners feel overwhelmed considering their options. Choosing 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 respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
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 Springs, FL Solar Cost FAQs
How much does it cost to install solar panels in Miami Springs?
This is a difficult question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Miami Springs is currently $667,012, which means you can expect a value of about $27,347 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Miami Springs is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.