Solar power in Miami, Florida
Great sunshine and amazing incentives make Miami one of the greatest cities in America to install solar.
As a Miami resident you most likely purchase your power from Florida Power and Light (FPL). FPL has repeatedly increased their residential rates and this is set to continue in following years.
There has never been a better time as an FPL customer to install solar and wipe out your electric bills.
Do Florida Power and Light offer any upfront rebate for installing solar?
The statewide Florida Solar Energy Incentive Program unfortunately is no longer taking applicants. The good news is, the price of installing solar has fallen drastically over the last 10 years to the point such rebate programs are no longer required.
Does FPL offer net metering to their solar customers?
As a utility regulated by the Florida Public Service Commission FPL are required to offer net metering to their solar customers.
The federal solar tax credit
If you have a federal income tax liability you are eligible to claim part of the cost of installing solar as a tax deduction.
Net Metering Broken Down
If your solar system is producing more energy than what is needed in the home the excess power is sold to FPL via through the grid. FPL are required by law to value each kWh sold to them at the retail price you pay for power.
Each kWh of exported power offsets the cost of another kWh at a time your solar system couldn’t service the electric demand of your home. This concept is referred to as "one-for-one" net metering.
What makes net metering such a great incentive is because most homeowners use little power during the day, this means more power sent to the grid and credited by FPL.
What if my solar system exports more energy than my home uses in a month?
If more energy is sold to FPL in a month than what your home draws from the grid FPL will carry the remaining credit over to the next months bill still at full retail value.
If credit still remains at the end of the yearly billing cycle each kWh is valued at the avoided-cost rate (3¢-4¢) and deposited directly into your account.
The "avoided-cost rate" is how much it would cost FPL to make or purchase the power from another source.
The average cost of installing residential solar panels in Miami,
Florida in 2020 is
$2.65 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Miami, FL
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.What if my tax liability is less than 26% of my systems cost
There is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Florida is only 1081kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Miami solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Florida solar savings calculator can do this because it contains a database of the electric rates charged by City of Homestead, Florida Power & Light (FPL)
How much can solar panels save you in Miami
Miami PACE Program
PACE stands for Property Assessed Clean Energy and is essentially a solar lease agreement however, with a twist. Instead of paying a third party directly for the loan in monthly installments, PACE is paid for through a property tax increase.
A big drawback to installing solar is if you choose to move houses before your system has had enough time to pay for itself. Since PACE is paid for through property taxes if you decide to move houses the new homeowners will continue paying for the solar system.
PACE means you can receive the benefits of solar without the feeling of being financially tied down to your property.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Miami to find out:
- How many solar panels you need to cover your power bill;
- How suitable your house is for solar;
- What incentives your house may be eligible for;
- The cost of solar panel installation in Miami and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Find out what rebates and incentives you can get in Miami
What does the cost of a real solar system look like?
Facts about installing a 15.96kW solar system in Miami, FL
This system would offset 100% of your energy usage if your typical monthly bill is $266, however your situation may vary so try our Miami solar calculator to get a result tailored to you.
Net cost of system
7 Years 9 Months
Average payback time
Annual power production
Levelized cost of solar energy
If you don't get solar
Cash flow graph based on cash purchase of this 15.96kW system
Life-time savings on this system over the next 25 years
(Prices shown after repayments of capital)
Solar companies in Miami, FL that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Miami
After 26% solar tax credit
After 26% solar tax credit
Find out what system size you need for your home
Going solar in Florida
Check out all of the ways energy providers of Florida can help you be more energy efficient and save money.
The following programs are available:
|Residential Renewable Energy Tax Credit||Federal||Personal Tax Credit|
|Solar and CHP Sales Tax Exemption||State||Sales Tax Incentive|
|Property Tax Abatement for Renewable Energy Property||State||Property Tax Incentive|
|PACE Loans||State||Loan Program|
|SELF Loans||State||Loan Program|
|Net Metering||State||Net Metering|
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.