Solar Panel Cost Guide in Miami, OK (Mar 2023)
- Miami Solar Installation Cost: $16,268
- 25-Year Savings: $20,783
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Miami
Let's take a look at the average cost of solar in Miami.
The average cost of solar panels in Miami is 2.62 per watt. The average solar panel system size in Miami is around 8.9 kilowatts, meaning a cost of about $16,268 for a solar installation, or $23,263 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Miami depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a fruitful investment. The average homeowner in Miami can save around $16,000 on their energy bills over 20 years.
To get 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 | $-14,786 |
| 3 years | $-11,821 |
| 5 years | $-8,857 |
| 7 years | $-5,893 |
| 9 years | $-2,929 |
| 11 years | $35 |
| 13 years | $2,999 |
| 15 years | $5,963 |
| 17 years | $8,927 |
| 19 years | $11,891 |
| 21 years | $14,855 |
| 23 years | $17,819 |
| 25 years | $20,783 |
Top Solar Installers in Miami
Although it's possible to install solar panels on your own, it requires extra labor and handiness. That's one of the reasons most people choose to go with a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in Miami, thereby optimizing your ROI.
If you'd like to go solar but still aren't certain which solar company to go with, here are our recommendations for providers near you:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important 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 consumes, the larger your system will likely need to be. You can expect to pay about $2,620 per kilowatt in Miami. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Miami, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Miami, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Miami homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.72 | $11,444 | $13,628 | 11.4 years |
| 8 kW | $2.67 | $14,965 | $18,464 | 11.2 years |
| 10 kW | $2.62 | $18,340 | $23,447 | 11.0 years |
| 12 kW | $2.57 | $21,568 | $28,576 | 10.8 years |
| 14 kW | $2.52 | $24,649 | $33,852 | 10.5 years |
| 16 kW | $2.46 | $27,583 | $39,275 | 10.3 years |
| 18 kW | $2.41 | $30,371 | $44,845 | 10.1 years |
| 20 kW | $2.36 | $33,012 | $50,561 | 9.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Miami, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Miami, OK Solar Cost FAQs
What is the average cost of installing solar panels in Miami?
The average cost of solar panels in Miami is about $13,100 for a 5-kW system and $26,200 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 cost the most important thing to keep in mind when buying solar panels?
Cost is a key 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.
How will solar panels impact the value of my home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.