Solar Panel Cost Guide in North Miami Beach, FL (2024 Update)
- North Miami Beach Solar Installation Cost: $12,086
- 25-Year Savings: $19,633
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in North Miami Beach
Let’s have a look at the average cost of solar panels in North Miami Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in North Miami Beach typically cost about 3.To cover the typical energy usage of the average home in North Miami Beach, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs around $12,086, or $17,283 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in North Miami Beach based on a few factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $21,000 on utility bills over 20 years, many homeowners in North Miami Beach find installing solar panels has a decent ROI.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in North Miami Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-10,712 |
| 3 years | $-7,965 |
| 5 years | $-5,218 |
| 7 years | $-2,471 |
| 9 years | $276 |
| 11 years | $3,024 |
| 13 years | $5,771 |
| 15 years | $8,518 |
| 17 years | $11,265 |
| 19 years | $14,013 |
| 21 years | $16,760 |
| 23 years | $19,507 |
| 25 years | $22,254 |
Top Solar Installers in North Miami Beach
Although it's possible to install solar panels on your own, it requires extra time and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. Also, if you’d like to maximize your investment in solar power, going with a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
If you're looking for a solar company in North Miami Beach, the EcoWatch team has put together a list of our top suggestions here:
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 North Miami Beach
Factors that Affect Solar Panel Costs in North Miami Beach
For many North Miami Beach homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in North Miami Beach, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,210 per kilowatt in North Miami Beach.The model of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than 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 researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many North Miami Beach 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 higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in North Miami Beach is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $18,505 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,033 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,740 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,627 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,695 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $52,941 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,368 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,974 | 9.3 years |
How to Save on Solar Panels
There are many companies to choose from in North Miami Beach, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for 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 mark of a good company.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 North Miami Beach, FL Solar Cost FAQs
What is the average cost of installing solar panels in North Miami Beach?
The average cost of solar panels in North Miami Beach 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in North Miami Beach?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in North Miami Beach?
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 the amount of 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.