Are Solar Panels Worth It In Florida

Cost Of Solar In Florida

The price of solar in Florida is around $2.53 per watt, about $0.13 less per watt than the national average.

Most homeowners need an 11.5-kilowatt solar power system to offset electric rates, so they pay around $29,095 for panels in Florida, or $20,366 after the 30% federal solar tax credit is applied. While this is expensive, solar panels often pay for themselves over time, especially in areas where electricity rates and/or electricity consumption is high.

Florida residents enjoy an average price for electricity, but they use far more on average than most Americans. The average energy consumption in the US is 893 kWh per month, while Floridas average is 1,142. As such, the long-term savings will be higher in Florida than in most other states.

Is Solar Worth It In Florida Without Net Metering

Solar energy systems that feed into the grid may not be worth it unless you have net metering, or if you have a battery to store surplus energy.

Net metering systems give credits for electricity produced at home and transmitted into the grid.

This can be at retail rates, but in Florida some companies offer higher-rate buyback incentives.

Interesting because the credits can be redeemed during times of lower solar output. This feature then reduces the amount which needs to be sourced from the electric grid in turn paving way for reduced utility bills.

Do You Need A Permit For Solar Panels In Florida

Yes, permits are required for solar panel installation in Florida. Permitting ensures that your roof can handle the weight of your panels structurally, and it also guarantees that the system is connected to the grid safely and accurately. While permits seem unnecessary, they ultimately help keep you and your neighborhood safe. Most solar installers in Florida will handle the permitting process for you so that you dont have to deal with your local government.

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Florida Solar Panels Guide 2022

Florida is one of the best places in the nation for installing solar panels. The combination of excellent sun exposure, the solar tax credit, and a great net metering policy allows homeowners to see an excellent return on their investment when they install residential solar panels in Florida.

The cost of installing solar panels is now more than 60% lower than it was ten years ago, so the financial benefit of installing solar is better than ever. On average, Florida solar panels pay back their cost in under nine years and earn homeowners thousands of dollars in savings over their estimated 25- to 30-year lifespans.

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Does Florida Offer Any Other Rebates Or Tax Credits

The city of Longwood used to offer a small rebate program but this program has now expired. Sadly, theres no other state tax credit or rebate for solar in Florida.

Luckily, the dual impact of existing incentives and advancements in manufacturing technology means that the cost of solar power in Florida has dramatically decreased for the average homeowner.

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House Methods Solar Ranking And Review Methodology

At House Method, transparency and trust are our most important values for the reader. Thats why we took the time to create an objective rating system and score each solar energy company/service according to our methodology.

Our research team dug deep into the fine print of contracts, combed through more than one hundred customer reviews, and thoroughly investigated each solar energy companys services, costs, and products. Weve done the homework for you by researching nearly all the solar energy companies on the market so you can have the information you need to make the best choice for your home.

We developed a formula to objectively determine the best solar energy companies and give each a score out of 10 based on the following criteria:

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Why Is Solar Energy Good For The Environment And World

So why should you consider using solar energy? There are numerous environmental benefits to using solar energy, not to mention using solar panels for electricity can help reduce your overall cost of electricity! Below are five environmental benefits to using solar power:

• Less water usage Solar doesnt rely on water to produce electricity, unlike traditional electricity production which can use thousands of gallons of water each year to cool generators, and process, refine and transport fuel.

• Reduce reliance on fossil fuels Fossil fuels are nonrenewable resources, meaning they will run out. By utilizing solar, a renewable resource, we can reduce our reliance on these finite fossil fuels.
• Reduces carbon footprint Instead of relying on the grid for your electric needs, solar provides a clean and effective way to make your home more efficient and sustainable while reducing the amount of carbon dioxide thats emitted into the air, thus reducing your carbon footprint.

Not only is solar good for the environment, but it also is good for the economy as it:

• Contributes to a strong electrical grid

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Are Solar Batteries Worth It 2021

An off-grid solar system is only able to generate electricity when the sun is shining. At night, or on cloudy days, it relies on batteries.

Grid-tie solar systems also have the ability to store power in batteries, such as the Tesla Powerwall. Installing a system like this is an excellent way to protect your home from power outages.

Its possible to use a Powerwall for backup power even if you dont have solar panels in Florida.

What Will It Cost You To Go Solar

Solar systems vary in price depending on multiple factors, such as the number of panels you purchase and the type and ease of installation. Buyers also shouldn’t forget about tax credits and incentives, like the 26% federal solar tax credit.

To find out how much you can expect to spend on your homes solar array, contact multiple solar installers in your area, get bids and compare. You want to compare not only the costs but also the efficiency of the panels and the product warranty. While a better system made from higher-quality materials may cost more, it may also last longer, have more efficient panels and require fewer repairs over time. This could make the higher cost worthwhile.

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How Much Is Your Current Electric Bill

In addition to your homes sun exposure throughout the day, your installer may also ask to see a year’s worth of electrical bills to determine how much energy your household uses throughout the year.

The amount of energy your household consumes in a month or a year will determine how large an array your home requires and how much you can expect to spend. For some people, this calculation is the deciding factor in installing panels.

Average Costs By System Size

Solar companies will customize your solar system by analyzing your utility bills and energy needs. The average solar system is around 5 kW but can be smaller or larger to meet your needs.

Here are the average solar panel costs based on system size:

At $2.56 per watt, the average 5 kW system costs around $12,800 in Florida. But, again, this is just an estimate. Your home may need more or less power, depending on your energy usage.

These price estimates may seem high, but incentives and tax credits can reduce your total costs. For example, the federal solar tax credit provides a tax credit equal to 30% of your installation costs. We applied this credit to the price of each system in the above table to show you the potential savings. When applied to a 5kW system, the price reduces from $12,800 to $8,960.

Find A Solar Installation Company in Your State

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What Is The Average Solar Panels Payback Period In Florida

If Floridas average solar payback period is lower than 16 years, solar panels will be a worthy investment.

People invest in solar panels even if their initial cost is higher because, in the long run, they pay for themselves unless you acquire your system through a power purchase agreement or solar lease.

So, I asked Katrina to estimate her solar panels payback period.

The payback period will let you know how much you will save in the long term and what value the solar system adds to your home.

Most people who purchase their solar panels in Florida with cash realize the payback period averages 10 years.

The repayment period is often determined by factors such as:

• The size of the solar system
• Your home electricity usage

So, based on the payback period, I would say solar panels are worth it in Florida.

Savings And Payback Period

The average lifespan of a solar panel system is 25 to 30 years and it is standard to calculate savings based on a 25-year period. To determine the savings amount, the average solar production in Florida is ascertained and multiplied by the average electricity rates in Florida which equates to the annual average savings . This is multiplied by 25 and then reduced by the initial average cost of the system . The final result is an average savings of $13,211 for a 6kWhrs grid-tied system.

Based on these values, it will take an average payback period of 11.6 years for the system to reach its breakeven point. This is calculated by dividing the total average cost of the system by the annual savings amount.

The total savings and payback periods will vary per system and overall power consumption however, on average, 6kWhrs grid-tied systems will pay for themselves in less than half of their lifespan.

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Nows A Great Time To Create And Store Your Own Solar Energy In Florida

Going solar means you may qualify for Florida’s state and federal incentives. Our solar and backup energy plans in the State of Florida start at $0 down. What’s more, Duke Energy, Florida Power & Light , and Tampa Electric Company offer net energy metering programs that could let you earn bill credits for the excess solar power you create and send to the grid.11,12,13 Net metering in Florida could help you save money on your future electricity bills, which means you can worry less about the cost of air conditioning and your water heater.

It could be cost-effective to team up with a Florida solar company like Sunrun. In fact, were one of the best solar installers in Florida. Discover if our solar and storage solutions are a good fit for your energy needs. Use our Product Selector or request a quote to get one-on-one service from our expert Solar Advisors. Sunrun home solar and storage quotes are always free.

*Customers ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type and whether a customer purchases or leases a home solar system from Sunrun.

**We recommend contacting a tax professional to most accurately determine the impact tax credits may have on your federal taxes.

What You Can Learn From Our State Solar Panel Calculator

This solar calculator requires you to input your address, utility company, your average monthly power spend – it tells you:

• Solar electricity production in annual kWh you can expect from your solar system in Florida
• The value of solar tax credits and other incentives you are entitled to based on the estimated size of system you need, your location and your utility provider.
• Likely cost based on an average of prices charged for solar systems of that size in the last year in Florida or
• The likely payback period on your solar panels and your investment return.
• Your total lifetime solar savings based on each of the major solar finance options, a cash purchase, a cash purchase funded with a HELOC and a zero-down PPA or third party lease product.

If you want to see all of the above but also see live pricing, the three best solar deals available in your city andget binding quotes from each of these solar companies then use this Florida solar panels calculator.This calculator requires you to also input your name and contact details because most of our 200+ installerpartners will only authorize the sharing of their live solar pricing where we have validated that you are a realhomeowner with a home in their service area. We respect the privacy of your data and only share your contact detailswith the solar companies you ask us to get binding quotes from.

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Is Solar Energy Worth It In Florida

There is no doubt that solar energy systems are a worthy investment in Florida because of the ideal conditions. These include plenty of sunshine, low solar panel installations, and various solar incentives.

In addition, the upfront costs of installing solar panels are reduced thanks to rising property costs, federal solar tax credit, and decreasing electricity costs. Also, since energy prices are decreasing, solar panels are a sensible way to save money while reducing the carbon footprint.

Are Solar Systems In Florida Exempt From Property Tax And Sales Tax

Yes – solar power systems in Florida are exempt from property tax and sales tax.

The sales tax exemption represents a savings of 6% on the upfront cost of a rooftop solar system.

Meanwhile, the property tax exemption means ongoing savings on your annual property tax bill. This is especially beneficial considering that when you go solar – be it on an existing roof or new home – you will see a boost to your homes selling price.

On top of the energy savings, this is a great selling point when listing your home on the real estate market.

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Bottom Line: Are Solar Panels Worth It

Whether solar panels are worth it is truly a decision that comes down to each specific homeowner. When you’re considering solar for your house, youll need to do your homework.

Investigate your home’s energy usage throughout the year. Get quotes to find out how many panels you’ll need and what the cost of installing panels will be. Think twice about purchasing the lowest-cost array for your home quality of materials and installation makes a big difference when it comes to system longevity and the long-term costs of maintenance and repair.

Article sources

ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page.

Solar Energy Industries Association, “Solar Investment Tax Credit .” Accessed June 2, 2022.

How Much Do Solar Panels Cost In Brevard County Fl In 2023

As of January 2023, the average solar panel cost in Brevard County, FL is $2.55/W. Given a solar panel system size of 5 kilowatts , an average solar installation in Brevard County, FL ranges in cost from $10,838 to $14,662, with the average gross price for solar in Brevard County, FL coming in at $12,750. After accounting for the 30% federal investment tax credit and other state and local solar incentives, the net price youâll pay for solar can fall by thousands of dollars.

Importantly, these costs are typical for solar shoppers comparing solar quotes on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySageâs competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company.

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Does Florida Have A Net Metering Policy

Yes, Florida accepts net metering however, it allows utility companies to determine how much they will pay for excess energy from the solar panels they supply to the grid.

This means that companies may have varying compensation policies, so ensure you confirm with your provider before committing.

If your utility company offers low retail rates for the electricity you have supplied, you can resort to to save energy for future use.

Your Homes Electricity Consumption

Solar panel systems are sized based on a few things, but the most important factor is your monthly energy consumption. Your energy needs will determine not only what size solar energy system you require to offset electricity rates, but also how much you stand to save on your electric bills in the long run.

In most cases, solar panels are only worth it if you use at least 500 kWh per month. The typical consumption in Florida is 1,142 kWh, which means the large majority of homeowners will find solar panels worth the investment in terms of future energy savings.2

You can check your past electric bills for your monthly billing history to see if solar panels make sense for your home based on this criterion.

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The Best Solar Incentives Tax Credits And Rebates In Florida

There are several public and private incentives in Florida that help you save on your purchase of solar panels: