Solar Panel Cost Guide in Miami, OH (2025 Update)
- Miami Solar Installation Cost: $17,915
- 25-Year Savings: $10,478
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Miami
Let’s take a look at the average cost of solar panels in Miami.
In Miami, solar panels cost about 3 per watt on average.The average solar panel system size in Miami is around 7.5 kilowatts, meaning a cost of about $17,915 for a solar installation, or $25,618 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $12,000 in savings on electricity bills over 20 years.
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Solar savings over time in Miami
| Year | Return on Investment |
|---|---|
| 1 years | $-16,823 |
| 3 years | $-14,640 |
| 5 years | $-12,457 |
| 7 years | $-10,273 |
| 9 years | $-8,090 |
| 11 years | $-5,907 |
| 13 years | $-3,724 |
| 15 years | $-1,540 |
| 17 years | $643 |
| 19 years | $2,826 |
| 21 years | $5,010 |
| 23 years | $7,193 |
| 25 years | $9,376 |
Top Solar Installers in Miami
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your switch to solar power much easier. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Miami
Factors that Affect Solar Panel Costs in Miami
The cost of installing a solar system in Miami can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use 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 $3,410.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Miami, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Miami, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Miami, and each can charge varying amounts for labor and equipment.Additionally, some companies in Miami know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $4,234 | 19.5 years |
| 8 kW | $3.48 | $19,478 | $6,027 | 19.1 years |
| 10 kW | $3.41 | $23,870 | $8,011 | 18.7 years |
| 12 kW | $3.34 | $28,071 | $10,186 | 18.3 years |
| 14 kW | $3.27 | $32,081 | $12,552 | 18.0 years |
| 16 kW | $3.21 | $35,900 | $15,109 | 17.6 years |
| 18 kW | $3.14 | $39,529 | $17,857 | 17.2 years |
| 20 kW | $3.07 | $42,966 | $20,795 | 16.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on 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:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
EcoWatch's Miami, OH Solar Cost FAQs
How much does it cost to install solar panels in Miami?
The average cost of solar panels in Miami is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
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 $637.61 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.