Solar Panel Cost Guide in Cutler Bay, FL (2024 Update)
- Cutler Bay Solar Installation Cost: $11,975
- 25-Year Savings: $19,594
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Cutler Bay
Let’s have a look at the average cost of solar panels in Cutler Bay.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cutler Bay, the average cost of a solar system is 3 per watt.Because a 5.3-kW system is needed to cover the energy consumption of a typical home in Cutler Bay, the average price of going solar will be about $11,975 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Cutler Bay can save about $21,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar installer in Cutler Bay, you can click the button below.
Solar savings over time in Cutler Bay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,602 |
| 3 years | $-7,854 |
| 5 years | $-5,107 |
| 7 years | $-2,360 |
| 9 years | $387 |
| 11 years | $3,135 |
| 13 years | $5,882 |
| 15 years | $8,629 |
| 17 years | $11,376 |
| 19 years | $14,124 |
| 21 years | $16,871 |
| 23 years | $19,618 |
| 25 years | $22,365 |
Top Solar Installers in Cutler Bay
Many homeowners decide to use a solar installer since installing solar panels yourself can be challenging. Another upside of utilizing a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Cutler Bay
Factors that Affect Solar Panel Costs in Cutler Bay
There are many criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
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 power your household uses, the larger your system will likely need to be. You can expect to pay about $3,210 per kilowatt in Cutler Bay.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Cutler Bay, where sunlight is 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 a better option. 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 challenging. Solar loans are available from most installers in Cutler Bay, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Cutler Bay is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $18,664 | 10.7 years |
| 8 kW | $3.27 | $18,336 | $25,245 | 10.5 years |
| 10 kW | $3.21 | $22,470 | $32,006 | 10.3 years |
| 12 kW | $3.15 | $26,425 | $38,946 | 10.1 years |
| 14 kW | $3.08 | $30,200 | $46,066 | 9.9 years |
| 16 kW | $3.02 | $33,795 | $53,366 | 9.7 years |
| 18 kW | $2.95 | $37,210 | $60,846 | 9.5 years |
| 20 kW | $2.89 | $40,446 | $68,506 | 9.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the endurance of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Cutler Bay, FL Solar Cost FAQs
How much does it cost to install solar panels in Cutler Bay?
The average cost of solar panels in Cutler Bay 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 such as 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 Cutler Bay?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 financial benefits from going solar.
Is going solar worth it?
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?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.