Solar Panel Cost Guide in Miramar Beach, FL (Mar 2023)
- Miramar Beach Solar Installation Cost: $10,290
- 25-Year Savings: $22,719
- Payback Period: 7.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Miramar Beach
See how much it might cost to switch to solar power in Miramar Beach.
The average cost of a solar panel system in Miramar Beach is 2.53 per watt. To account for the typical energy usage of the average home in Miramar Beach, most homeowners require a 5.8-kilowatt system. Using the figure above, a solar installation costs around $10,290, or $14,715 before the federal solar tax credit of 30% 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 making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Miramar Beach that can help you get a more accurate cost estimate for your home.
Solar savings over time in Miramar Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-8,969 |
| 3 years | $-6,328 |
| 5 years | $-3,688 |
| 7 years | $-1,047 |
| 9 years | $1,594 |
| 11 years | $4,234 |
| 13 years | $6,875 |
| 15 years | $9,516 |
| 17 years | $12,156 |
| 19 years | $14,797 |
| 21 years | $17,438 |
| 23 years | $20,078 |
| 25 years | $22,719 |
Top Solar Installers in Miramar Beach
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make switching to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Miramar Beach, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
Although the average cost of a solar system in Miramar Beach is $10,290, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,530. The model of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Miramar Beach offer solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Miramar Beach, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, 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
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
How much does it cost to install solar panels in Miramar Beach?
This is a tough question to answer precisely, because the cost depends on many 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 cost 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 want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
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, which means you can expect a value of about $15,744 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Miramar Beach is a worthwhile investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.