Are Solar Panels In Florida Homes Worth The Investment?

In the last few years, Florida homes have seen a rise in the installation of solar systems. As more and more homeowners are becoming aware of the fastest-growing energy technology, solar panels can be seen almost everywhere compared to how it used to be just four years back. Federal incentives, as well as utility programs, have made solar more affordable and accessible than ever before.

Costs

The primary cost of having residential solar panels in Florida comes from its equipment, particularly the solar module that’s singlehandedly the most considerable expense. Inverter, meter, wire gear, and cables, etc., are various other components you’d need to spend on. Also factor in the cost of installation, storage batteries, and maintenance.

You may contact a competent and certified company to get accurate quotes. The one you contract with can also suggest you any available subsidies along with what policies may apply to grid interconnections and the ones that relate to selling excess energy.

Savings

When you install an accurately sized solar panel system for your property, you can save anywhere between $20,000 and $80,000 in avoided electricity expenses. To maximize your savings, you can always get a cheaper plan and further invest in energy-efficient appliances, attracting rebates in some cities. Also, based on when you use the most energy would indicate additional savings. If it’s during the daytime that you use the most generated solar energy, it’ll export less power to the grid, which means even lesser is your utility required to pay in your net metering credits.

Currently, solar incentives in Florida include the 26% federal solar tax credit, net metering, and PACE (Property Assessed Clean Energy).

Despite somewhat higher upfront costs, the system pays for itself in about 7 to 8 years (with standard usage, rate plan, and system size). Over the warranted 25 years of your solar system’s service life, you can save around $80,000 or above in Florida.

In The End …

We leave it up to you to decide whether or not solar panels would pay off your investment. For more detailed information on solar energy systems in Florida, get in touch with a qualified installer, and make the most appropriate decision.

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Created on Nov 25th 2020 04:32. Viewed 346 times.

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