Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip the premium cost of grid-tied power by creating some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back for credits on your bill.
- Better energy independence: Solar panel systems with battery storage systems function through blackouts and emergencies, and you won't have to rely on the power grid for your safety and comfort.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on non-renewable sources.
What Solar Incentives Are Available to North Miami Homeowners?
Florida homeowners who upgrade to solar could qualify for special financing, tax credits, rebates and reimbursements. Here are just a few of the local incentive programs.
Incentive Type: Sales Tax Incentive
Incentive Amount:
All
Incentive Type: Property Tax Incentive
Incentive Amount:
Residential: 100% of the added value
Non-Residential: 80% of the added value
Incentive Type: PACE Financing
Website: floridapace.govIncentive Amount:
Determined locally
Incentive Type: Loan Program
Website: lakelandelectric.comIncentive Amount:
$5,000
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in North Miami
The cost and efficacy of solar panels often depend on which company mounted them. Make your choice based on the following important considerations.
Licensing and Training
Once an electrical professional in Florida has four years of field experience, including one year as an apprentice, they can pass two exams to earn a CV license with the Florida Construction Industry Licensing Board. Florida also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in North Miami
Your photovoltaic panels' model will impact how much electricity you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can increase your solar system's efficiency. Not every solar provider includes these additional features, so look for a provider that sells them if it's important for you.
A majority of North Miami homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $16,050 to install, considering both materials and labor. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,128 |
| Solar Polycrystalline | $879 |
| Thin-Film | $514 |
| Solar Battery | $722 |
| Solar Home EV Charger | $2,706 |
Financing Solar Energy in North Miami
Solar contractors offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar leases, solar loans, power purchase agreements (PPAs) and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay just for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We advise working with a company that offers multiple financing options. Ask each salesperson about what's available, and acquire more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in North Miami.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Extra incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 1.7 years |
| 2 kW | 3.5 years |
| 5 kW | 8.6 years |
| 10 kW | 17.3 years |
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Frequently Asked Questions About Solar in North Miami
How much energy and money could I save per year by switching to solar?
Is solar energy easily accessible in North Miami?
Should I anticipate a boost in my property value after switching to solar energy?
What can I do to calculate my home's solar viability?
What maintenance do my solar panels need, and how often do they need it?
What's the average solar system size in North Miami?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
How many estimates should I get before making a final solar company decision?
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