Are Solar Panels Worth It In Florida?

Is Solar Worth It In fl

Like most southern US states, Florida is in an advantageous position for using solar power. It's in the top ten sunniest states, which helps solar panels work more efficiently and thus, pay for themselves that much sooner. Florida residents enjoy as much as 3000 hours of sunlight per year.

We offer free solar estimates! Talk to our local advisors about your home.

How Much Does It Cost To Install Solar Panels in Florida?

The average homeowner in Florida opts for a 5kW (five kilowatt) system. The "sticker price" of a 5kW solar panel install runs roughly $13K, but thanks to the Federal Solar Tax Credit, evens out to about $9.5K. Larger installs may trend up to 10kW at almost exactly twice the cost, $25.5K, $18K after Federal Solar Tax Credit. The tax credit works on a percentage - about 30% - of your total installation cost.

The federal Solar Tax credit works as a deduction from your next year's IRS tax filing. There is no maximum amount that can be claimed. To take full advantage of the credit, you have to owe more than the total in taxes. However, most homeowners are in a position to benefit.

What Solar Incentives Are Offered in Florida?

Florida residents installing solar panels on their home may take advantage of two further tax incentives.

  • Property Tax Abatement for Renewable Energy Property - Your property tax will not go up based on the added value of a solar install.
  • Solar and CHP Sales Tax Exemption - New solar equipment is exepmt from the standard Florida 6% sales tax.

Net-metering is also in effect, allowing you to offset the power input from your solar panels against your normal utility bill.

 

Florida residents can save over $50 a month on electric!

Average Time For Solar Panels To Recover Investment

Solar panels save so much on your energy bill, that they can pay for themselves in savings on your electric bill over the long run. This period of time is what we call the "solar payback period." Assuming a standard 5kW system install, the average solar payback period is roughly 6-9 years. This is before we take the tax incentives into account.

There are variables that affect your solar panels' payback period. The angle and incline of your roof also affects how efficient solar panels will be. If you have a lot of shade trees aroudn your home, that can be a diminishing factor. However, solar panels still save on your electricity bill even given the least favorable variables, especially given the sunny climate in Florida.

Florida is Warming Up To Solar!

It's worth bookmarking this page and checking back, because new legislation can change things fast. Florida recently had a lesson in the benefits of solar-powered neighborhoods, during the recent hurricanes. There are also headline-grabbing success stories like the Key Largo Wastewater Treatment District in the Florida Keys, which went all-solar funded by grants from the Florida Department of Environmental Protection. Stories like this may nudge a few more legislators and senators to loosen the state's purse-strings to approve further solar power incentives in the future.

 

See How much you could save by switching to solar

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Why do we need this? Your address allows us to find electricity rates in your area as well as local programs and incentives that may be available to you. Your average electric bill helps us determine the size and potential savings on your system.

Are solar panels worth it in Florida?

Florida is in an advantageous position for using solar power. It's in the top ten sunniest states, which helps solar panels work more efficiently and thus, pay for themselves that much sooner. Florida residents enjoy as much as 3000 hours of sunlight per year.

Average Time For Solar Panels To Recover Investment in Florida?

Solar panels save so much on your energy bill, that they can pay for themselves in savings on your electric bill over the long run. This period of time is what we call the "solar payback period." Assuming a standard 5kW system install, the average solar payback period is roughly 6-9 years. This is before we take the tax incentives into account.

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