Solar Panel Cost Guide in Miramar Beach, FL (2023 Update)
- Miramar Beach Solar Installation Cost: $10,294
- 25-Year Savings: $22,715
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Miramar Beach
Let's take a look at the average cost of solar panels in Miramar Beach.
The national average cost of solar panels is $2.66 per watt, but in Miramar Beach it's 2.53 per watt. Using this figure, a typical 5.8-kW system would cost about $10,290 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Miramar Beach homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $22,000 on electricity bills over 20 years, many homeowners in Miramar Beach find going solar can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Miramar Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-8,534 |
| 3 years | $-5,016 |
| 5 years | $-1,497 |
| 7 years | $2,021 |
| 9 years | $5,540 |
| 11 years | $9,058 |
| 13 years | $12,577 |
| 15 years | $16,095 |
| 17 years | $19,614 |
| 19 years | $23,132 |
| 21 years | $26,651 |
| 23 years | $30,169 |
| 25 years | $33,688 |
Top Solar Installers in Miramar Beach
When making the switch to solar, many homeowners opt to use a solar company since installing solar panels yourself can be a challenging project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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 Miramar Beach
Factors that Affect Solar Panel Costs in Miramar Beach
Though the average cost of a solar system in Miramar Beach is $10,290, your actual cost may differ. 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 important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Miramar Beach, 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 consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,530 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Miramar Beach to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. However, the interest on solar loans also increases your overall costs, so it's vital to keep that in mind 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 company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Miramar Beach, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $23,023 | 8.1 years |
| 8 kW | $2.58 | $14,451 | $30,981 | 8.0 years |
| 10 kW | $2.53 | $17,710 | $39,080 | 7.8 years |
| 12 kW | $2.48 | $20,827 | $47,321 | 7.6 years |
| 14 kW | $2.43 | $23,802 | $55,704 | 7.5 years |
| 16 kW | $2.38 | $26,636 | $64,228 | 7.3 years |
| 18 kW | $2.33 | $29,328 | $72,894 | 7.2 years |
| 20 kW | $2.28 | $31,878 | $81,702 | 7.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Miramar Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in Miramar Beach?
This is a tough question to answer exactly, 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property 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 Miramar Beach is currently $383,996, so you can look forward to a value of about $15,744 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Miramar Beach is a worthwhile investment.
How long do solar panels last in Miramar Beach?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.