Solar Panel Cost Guide in North Miami Beach, FL (2024 Update)
- North Miami Beach Solar Installation Cost: $12,086
- 25-Year Savings: $19,633
- Payback Period: 10.4 Years
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Average Cost of Solar Panels in North Miami Beach
Let’s have a look at the average cost of solar panels in North Miami Beach.
The national average cost of solar panels is $2.66 per watt, but in North Miami Beach it’s 3 per watt.The average North Miami Beach homeowner needs a 5.4-kilowatt system, which would cost about $12,086 with the federal tax credit, or $17,283 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average North Miami Beach homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in North Miami Beach can save about $21,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in North Miami Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-10,712 |
| 3 years | $-7,965 |
| 5 years | $-5,218 |
| 7 years | $-2,471 |
| 9 years | $276 |
| 11 years | $3,024 |
| 13 years | $5,771 |
| 15 years | $8,518 |
| 17 years | $11,265 |
| 19 years | $14,013 |
| 21 years | $16,760 |
| 23 years | $19,507 |
| 25 years | $22,254 |
Top Solar Installers in North Miami Beach
Installing solar panels on your own can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Another benefit of utilizing a solar installer is that they can help you maximize your investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 North Miami Beach
Factors that Affect Solar Panel Costs in North Miami Beach
The cost of installing a solar system in North Miami Beach can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, 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 adopting solar energy 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 spend around $3,210 per kilowatt in North Miami Beach.The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many North Miami Beach homeowners opt to finance their solar panel systems to offset upfront costs.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in North Miami Beach, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $18,505 | 10.8 years |
| 8 kW | $3.27 | $18,336 | $25,033 | 10.6 years |
| 10 kW | $3.21 | $22,470 | $31,740 | 10.4 years |
| 12 kW | $3.15 | $26,425 | $38,627 | 10.2 years |
| 14 kW | $3.08 | $30,200 | $45,695 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $52,941 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,368 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $67,974 | 9.3 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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.
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 North Miami Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in North Miami Beach?
The average cost of solar panels in North 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in North Miami Beach?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in North Miami Beach?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even 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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.