Solar Panel Cost Guide in Miami, OH (2024 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Miami, the typical cost of a solar system is 3 per watt.Since a 7.5-kW system is needed to cover the energy consumption of a typical home in Miami, the average price of going solar will be about $17,915 after claiming the federal solar tax credit of 0.
The actual price you pay can be above or below the average in Miami based on several factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a sound investment. The average homeowner in Miami can save around $12,000 on their power bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Miami, you can click the button below.
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
Trying to put up solar panels yourself can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Miami
Factors that Affect Solar Panel Costs in Miami
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Miami: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels 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 that have better efficiency or power generation need 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.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Miami average.
Solar Financing Terms
Many homeowners find the average cost of solar in Miami to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Miami, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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
There are numerous companies to choose from in Miami, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you care about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Miami, OH Solar Cost FAQs
What is the average cost of installing 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 actual 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 cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Miami, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.
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.