Solar Panel Cost Guide in Miami Beach, FL (2024 Update)
- Miami Beach Solar Installation Cost: $12,050
- 25-Year Savings: $19,661
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Miami Beach
Find out how much it might cost to go solar in Miami Beach.
In Miami Beach, solar panels cost about 3 per watt on average.The average solar panel system size in Miami Beach is around 5.4 kilowatts, meaning a cost of about $12,050 for a solar installation, or $17,232 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Miami Beach homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Miami Beach find investing in solar can be quite rewarding.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Miami Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-10,677 |
| 3 years | $-7,929 |
| 5 years | $-5,182 |
| 7 years | $-2,435 |
| 9 years | $312 |
| 11 years | $3,060 |
| 13 years | $5,807 |
| 15 years | $8,554 |
| 17 years | $11,301 |
| 19 years | $14,049 |
| 21 years | $16,796 |
| 23 years | $19,543 |
| 25 years | $22,290 |
Top Solar Installers in Miami Beach
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make your swap to solar power much easier. Plus, if you aren’t sure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Miami Beach
Factors that Affect Solar Panel Costs in Miami Beach
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Miami Beach: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Miami Beach, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,210 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Miami Beach, where sunlight is abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Miami Beach homeowners opt to finance their solar panel systems to make going solar more affordable.Even though solar loans make adopting solar energy more accessible for Miami Beach homeowners, they can also add to 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 avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect your pricing. Miami Beach’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.34 | $14,021 | $18,602 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,162 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $31,902 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,821 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $45,921 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,200 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,659 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,298 | 9.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Miami Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Miami Beach?
The average cost of solar panels in Miami Beach is about $16,050 for a 5-kW system and $32,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Miami Beach?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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 home 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.