Although there is a lot of information available about the numerous benefits of solar energy, the initial expenses involved in the construction of a household renewable energy system are too expensive for most people. Would it be prudent to put money into solar power? Because Florida is known as the Sunshine State, it receives an abundance of warm sunshine and has some of the nice sites and beaches in the country. Due to the state’s high electricity costs, having access to solar power is advantageous.
Solar power for homes in Florida is becoming increasingly popular as a way for residents to save money on their monthly electricity bills; nevertheless, some property owners are concerned about whether or not the additional expense of installing solar panels for their homes is truly justified. We’re one of the top solar companies in FL that’s on a mission to explain the pros and cons to homeowners.
Is Residential Solar Power in Florida Worth It?
The answer is “yes” Several factors work together to ensure you get the best out of solar panels in your Florida home.
Therefore, some of the reasons why residential solar power in Florida is a good investment include the following:
It is, after all, the Sunshine State. Sunlight can be found in Florida for about half the year, depending on where you live. Florida’s mild winters are ideal for utilizing the sun’s electricity for year-round household energy use. The efficiency of your solar panel system is ensured if your home’s roof faces south or west and receives a lot of sunshine. If your home’s roof faces another way, don’t be concerned; our solar specialists will examine the angle of your home’s roof to determine the effectiveness of a solar panel system installed over it.
Increasing Costs for Electricity
The answer is yes. Florida has one of the nation’s highest per-capita electricity usage rates. The state of Florida consumes 19.71% more electricity per month than the national average of 903 kWh/month. This means that a home’s average monthly electricity bill is $123 per month. As a result, Florida’s monthly energy cost is 14.95 percent higher than the national average, placing it ninth overall in the country. As a result, you’ll save even more money each month if you switch to solar power.
Even if you don’t have any problem with your current power bill, that doesn’t mean it will always be the same. Over the past decade, energy prices in the United States have risen substantially, and this trend is expected to continue as fossil fuel reserves are depleted.
In a recent example, Tampa Electric has applied for a 19 percent rate increase. Your home’s energy should not be in the hands of those energy providers.
Large Tax Incentives
There is some good news regarding the expense of going solar in Florida. If you’re interested in going solar, the federal government gives an enormous tax break!
With the new Federal Solar Tax Credit program, you can claim tax credits to offset up to 26% of the cost of installing solar panels. Any credits that aren’t used up will roll over to the following year. In 2023, this tax benefit will be lowered to 22% from 24%. By 2024, it will no longer be used for residential purposes.
Solar Energy Can Be Resold
Net metering in Florida is a terrific way to generate even more savings from your solar panels. I’m curious to know what net metering is. It is just a simple way of saying you can get credits on your monthly energy bills for the solar energy you produce and sell to your utility company.
Net metering allows you to connect your solar panels to your electric grid. Extra electricity generated by your solar energy system is fed back into the grid. Afterward, you get credited for each kilowatt-hour your solar panels generate on your account. It’s time to say goodbye to monthly electric payments!
Zero Sales Tax
In Florida, the purchase of a solar panel system, the installation of said system, and the purchase of a solar battery backup are all exempt from the state’s sales tax requirements. That eliminates your need to be concerned about paying an additional 6% sales tax. Therefore, feel free to install all the solar panels your Florida home requires to power itself!
Exponential Growth Rate
In fact, among all the states in the United States, Florida is expanding its use of solar power quickly.
The Solar Energy Industry Association says Florida is the third best state in the USA for solar energy. This is a result of several various variables, including the following:
- Forecast of future expansion
- The total capacity that has been installed
- A proportion of the state’s total electricity is generated by solar power.
- The total amount of installations
And suppose recent reports are to be believed. In that case, Florida will overtake North Carolina as the solar industry leader in the southeast well before the year 2022 comes to a close.
Why is it important to know this if you own a home in Florida? This is to ensure you don’t fall behind while all your neighbors have already switched to solar energy? What do you think about forgoing the benefits of all the incentives that won’t be accessible in the foreseeable future? Also, don’t forget that renewable energy will be the standard in the future because the United States is moving toward adopting more clean energy legislation to protect our environment. Utility firms will transition to using renewable energy sources an increasing amount. Instead of handing money to the utility company in the future, wouldn’t you rather own the solar energy generated at your home?
How Much Do Home Solar Panels Cost in Florida?
It costs $25,685 to install a solar panel, but this price is anticipated to drop soon, according to Home Advisor. A homeowner’s annual cost is between $17,926 and $34,221. You should spend between $2.50 and $3.50 per watt for most systems in the 3kW to 10kW range. Through the end of the year 2021, the federal investment tax credit will allow you to deduct 22% of the expenditures associated with the installation (ITC).
With the rising cost of electricity, this will be the best time to install a residential solar panel in Florida, a place blessed with abundant sunlight. According to Home Advisor, the average quote to install residential solar power in Florida is $17,926 – $34,221.