Are Solar Panels Worth It In Florida?
Solar panels are booming in the United States as many home & business owners are making the switch to renewable energy. But are they worth it in Florida? Solar panels do have their pros and cons, but the question to ask is are solar panels worth it, for you? Seeing how much they cost is the first step in answering this important question. Get a free customized solar quote to see the cost of solar panels for your home or business.
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How Much Do Solar Panels Cost 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 for 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!
Related:
The True Cost of Solar Panels in Florida
How to Get Solar Panels for Free in Florida
What Solar Incentives Are Offered in Florida?
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.
See a full list of Florida Solar Incentives, Tax Breaks, and Rebates here.
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Return On Investment for a Florida Solar Panel System
Solar panels are just another home addition, 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, the solar payback period is between 10-13 years. But in Florida, that can be much less, thanks to the high amount of sunlight Florida receives year-round.
There are a few variables that affect your solar panels' payback period. Where you decide to install your solar panels is one of many. Some homeowners are installing solar panels on their land (side yards and back yards) to make more room for bigger systems and to position them in a place where they will receive more sunlight.
Another variable that can increase your rate of return and decrease your solar payback period is how you use your excess energy. Most solar panels in Florida will generate more electricity that you might use during the day. You can either store this excess energy into solar batteries. Or you can sell it back to the Florida solar grid for a profit. Or both! If you decide to sell it back to the solar grid, you will receive Solar Renewable Energy Credits or SRECs that you can redeem monthly.
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.
Are Solar Panels Worth it in Florida?
Over 1.1 Million homes are powered by solar panels in Florida. In a place nicknamed The Sunshine State, its hard to see why solar panels would not be a great investment for home and business owners. The real question is, are solar panels right for you? The best place to start is to see how much they might cost and get a better understanding of your energy needs. If you're interested in generating free electric for your home or business, start with a free solar quote to learn about your solar options!
Get started with your free solar savings quote!
Key Takeaways
- Florida is #3 top places to go solar in the United States.
- The true cost of solar panels vary, but averages between $9,000-$13,000 in Florida. Learn more.
- Florida offers many solar incentives and tax breaks to help residents convert to solar. Learn more.
- Solar panels pay for themselves in 10-13 years, and often less in Florida.
- Getting a free solar quote is the best way to see if solar panels are right for your situation. Start here.
Yes, Florida receives plenty of sunlight year round to make solar energy an efficient way to generate electricity. Florida also has many solar incentives to discount solar panels for residents. Learn more
In the United States, the Solar Payback Period is 10-13 years. But in Florida this average is much lower, thanks to all of the sunlight. The average payback period is 7-10 years. Learn more.
