Solar Panel Cost Guide in Miami Lakes, FL (2024 Update)

  • Miami Lakes Solar Installation Cost: $12,068
  • 25-Year Savings: $19,647
  • Payback Period: 10.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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Average Cost of Solar Panels in Miami Lakes

Find out what the average cost of solar panels are in Miami Lakes.

While the national average of solar panels is $2.66 per watt, solar panels in Miami Lakes generally cost about 3.Because a 5.4-kW system is needed to cover the energy consumption of a typical home in Miami Lakes, the average price of going solar will be about $12,068 after claiming the federal solar tax credit of 0.

These figures are only estimates, and your own solar costs may look different based on factors unique to your home and what company you go with.With typical savings of about $21,000 on electricity bills over 20 years, many homeowners in Miami Lakes find going solar can pay off big.

To get a free quote from a pre-vetted solar installer in Miami Lakes, you can click the button below.

Solar savings over time in Miami Lakes

Year Return on Investment
1 years $-10,695
3 years $-7,947
5 years $-5,200
7 years $-2,453
9 years $294
11 years $3,042
13 years $5,789
15 years $8,536
17 years $11,283
19 years $14,031
21 years $16,778
23 years $19,525
25 years $22,272

Top Solar Installers in Miami Lakes

Although it's possible to install solar panels yourself, it requires extra labor and know-how. For that reason, the majority of homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.

If you’d like to start using solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Miami Lakes

Factors that Affect Solar Panel Costs in Miami Lakes

While the average cost of a solar system in Miami Lakes is $12,068, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,210. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Miami Lakes to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you get to install your solar panel system can affect your pricing. Miami Lakes’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $3.34 $14,021 $18,553 10.8 years
8 kW $3.27 $18,336 $25,097 10.6 years
10 kW $3.21 $22,470 $31,821 10.3 years
12 kW $3.15 $26,425 $38,724 10.1 years
14 kW $3.08 $30,200 $45,808 9.9 years
16 kW $3.02 $33,795 $53,071 9.7 years
18 kW $2.95 $37,210 $60,513 9.5 years
20 kW $2.89 $40,446 $68,136 9.3 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
  • Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Miami Lakes, FL Solar Cost FAQs

What is the average cost of installing solar panels in Miami Lakes?

The average cost of solar panels in Miami Lakes 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 like the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Miami Lakes?

Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

Is it worth going solar in Miami Lakes?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

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 should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.

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