Florida Solar Worth It? See Your Payback in the Sunshine State!
Updated September 29, 2024 | 10 min read
Many homeowners are asking, 'Are solar panels worth it in Florida?' Given the state's abundant sunshine, the answer is often yes.
For most homeowners in the Sunshine State, solar panels prove to be a worthwhile investment thanks to the 300+ sunny days per year and progressive Florida solar incentives!
See the pros & cons of Florida solar power below, or enter your zip code to get a customized solar quote for free to find out if solar worth it for your home?
Find out if you qualify for Florida savings programs!
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Are Solar Panels Worth it in Florida?
Yes, solar panels are worth it for most homeowners in The Sunshine State. Florida is well-known for its abundant sunshine, which provides a perfect environment for solar panels to generate electricity for your home.
But one of the lesser-known reasons that solar panels are such a good investment for Florida homeowners is the many solar incentives & programs available to FL residents. With Florida solar incentives, you can save thousands on your solar panels and potentially qualify for free installation!
Switching to solar power in Florida can lead to monthly savings of 43% - 63% compared to traditional electricity costs, along with positive environmental impacts and the potential to increase in your home's property value.
Let's dive into a few of the top benefits of solar panels in Florida!
The Benefits of Solar in Florida
Making the switch solar power in Florida offers a range of advantages that make it a worthwhile investment. Here are just a few of the top reasons so many Floridians are enjoying their solar panels:
- Solar Savings: By transitioning to solar energy in Florida, homeowners can enjoy significant savings, with average reductions of 43% - 63% on their monthly energy bills compared to traditional electricity costs.
- Environmental Benefits: Harnessing the power of the sun allows you to generate clean and renewable energy, reducing reliance on fossil fuels and contributing to a healthier environment for current and future generations.
- Increase in Property Value: Installing solar panels can substantially increase the value of your property in Florida. Studies show that solar-powered homes command higher prices in the real estate market, as potential buyers appreciate the long-term energy savings and eco-friendly nature of solar energy systems.
- Solar Incentives: In Florida, there are various solar incentives and programs available that make the switch to solar more affordable. Explore the incentives such as tax credits and rebates to maximize your savings and further enhance the value of going solar in the Sunshine State.
☀️ See the complete list of Florida Solar Incentives here!
Return on Your Investment
Solar panels are not just another home improvement project, they are a true investment. Not only can solar energy reduce your electricity costs, for life, but because of the savings, solar panels will actually pay for themselves and ultimately become a profitable investment.
This period of time is what we call the Solar Payback Period. On average, solar panels in Florida will pay for themselves in 7-9 years. This is much faster than most states thanks to the high amount of sunlight Florida receives year-round.
Read More: How Long Do Solar Panels Take to Pay For Themselves?
Do Solar Panels Increase Home Value Florida?
One of the more overlooked benefits of solar panels are the aesthetics of your home and the increase in property value. Yes, installing solar panels will actually increase the value of your home. On average, a home's value can increase up to 5% with residential solar systems.
The best part is, in Florida, your solar panel installation qualifies for property tax exemption. So you can enjoy the benefits of a higher property value, with out paying any extra taxes. A compounded benefit of solar panels in Florida.
Florida Solar Incentives
Solar Incentives are the best way to reduce solar panel costs and increase your return on investment. Solar incentives can come in the form of tax credits, solar rebates, financing options, and net metering programs. Florida offers many of these solar incentives so it is important to see which ones your home or business qualify for. See which incentives you qualify for here!
- Federal Solar Tax Credit: This Green Energy Tax Credit gives you a 30% tax deduction for the cost of your solar power system.
- Solar Tax Exemptions: In Florida, Solar panels are exempt from the 6% sales tax and property tax exemption.
- Net Energy Metering: You can sell your excess solar energy back to the Florida solar grid to help further reduce your monthly energy bills or make some extra money.
- Solar Rebates: Depending on your energy provider, some utility companies in Florida will write you a check for converting to solar power.
Find out if you qualify for Florida savings programs!
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The Downsides of Solar in Florida
While there are numerous benefits to installing solar panels in Florida, it's essential to address some of the potential concerns to answer the question "What are the cons of solar panels in Florida?"
- Dependence on sunlight: Solar power relies on sunlight, and Florida, being the Sunshine State, receives abundant sunshine throughout the year, making it an ideal location for solar energy generation. Even on cloudy days, solar panels can still generate electricity, albeit at a slightly reduced rate.
- Space limitations: Solar panels require a sufficient surface area with direct sunlight, often installed on rooftops. However, limited roof space can be a constraint for some homeowners. Exploring alternative options like utilizing available yard space can be a viable solution to maximize solar potential.
- Upfront costs of solar: The initial investment associated with solar panel installation can be a consideration for homeowners. However, it's important to note that there are various programs and incentives available in Florida that can help mitigate or even eliminate these costs, making solar energy accessible and affordable for residents.
By understanding and addressing these considerations, homeowners in Florida can make an informed decision about whether solar panels are the right choice for them, taking into account the state's abundant sunlight, available space options, and potential financial assistance.
The Cost of Solar in Florida
The biggest question most home owners have before deciding to install solar panels are how much they will cost? Solar energy systems come in all shapes and sizes so there is no "one size fits all" answer to this. But the average price of solar panels in Florida is between $9,000-$13,000 for most medium sized homes. This is about 10% cheaper than most states due to the many solar incentives offered by Florida to help people convert to renewable energy.
Depending on your energy needs, the size of your home, the choice of solar batteries, and which solar incentives you qualify for, the price could certainly vary!
Fortunately, Florida has more solar incentives than most other states, which help residents save a lot money on their solar installation and in some cases have their solar panels installed for free!
See Also: The Cost of Solar Panels in Florida
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