Solar Panel Cost Guide in Miami, OK (2024 Update)
- Miami Solar Installation Cost: $19,427
- 25-Year Savings: $20,789
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Miami
Find out how much it might cost to switch to solar power in Miami.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Miami, the average cost of solar panels is 3 per watt.Using this figure, a typical 8.9-kW system would cost about $19,427 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Miami depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Miami homeowner can save about $16,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar panel company in Miami for a customized quote.
Solar savings over time in Miami
| Year | Return on Investment |
|---|---|
| 1 years | $-18,065 |
| 3 years | $-15,341 |
| 5 years | $-12,617 |
| 7 years | $-9,893 |
| 9 years | $-7,169 |
| 11 years | $-4,445 |
| 13 years | $-1,722 |
| 15 years | $1,002 |
| 17 years | $3,726 |
| 19 years | $6,450 |
| 21 years | $9,174 |
| 23 years | $11,898 |
| 25 years | $14,622 |
Top Solar Installers in Miami
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your switch to solar power much easier. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Miami
Factors that Affect Solar Panel Costs in Miami
While the average cost of a solar system in Miami is $19,427, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Miami provide solar loans, which reduce the initial cost of installing a solar system.Even though solar loans make going solar more accessible for Miami homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Miami is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.26 | $13,672 | $11,400 | 13.6 years |
| 8 kW | $3.19 | $17,879 | $15,551 | 13.4 years |
| 10 kW | $3.13 | $21,910 | $19,877 | 13.1 years |
| 12 kW | $3.07 | $25,766 | $24,378 | 12.8 years |
| 14 kW | $3.00 | $29,447 | $29,054 | 12.6 years |
| 16 kW | $2.94 | $32,953 | $33,906 | 12.3 years |
| 18 kW | $2.88 | $36,283 | $38,933 | 12.1 years |
| 20 kW | $2.82 | $39,438 | $44,135 | 11.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Miami, OK Solar Cost FAQs
How much does it cost to install solar panels in Miami?
The average cost of solar panels in Miami is about $15,650 for a 5-kW system and $31,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors 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 think about when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Miami?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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 decide 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.