During the last few years, the residents of Florida have widely started to use solar energy. As a result, the Sunshine State is now the fourth biggest adopter of solar systems in the U.S. What’s more, the state has nearly 4,650 MW of solar panels installed, which is enough to power 569,563 homes. Still, if you want to go solar in Florida, you first need to consider a few factors.
Is Going Solar in Florida Worth it?
For the most part, the popularity of renewable energy sources in the Land of the Flowers has been steadily rising. Yet, some people in Florida view solar systems as an extravagant investment. However, they may change their mind when they see the latest statistics.
Average Cost of Installing a Solar System in Florida
Currently, the price of a solar panel in the Sunshine State is about $2.65/W. Since most homeowners opt for a 5 kW solar system, the average cost for going solar in Florida is $13,250. Although that may sound expensive, the price has dropped by 40% in the last five years.
Like many other American states, Florida is offering incentives to residents and companies that choose to switch to solar power. As a result, you have multiple chances to reduce your solar installation costs.
For starters, if you choose to sell your excess solar energy to the grid, you will receive energy credit. Also, as a solar panel owner, you will be eligible for a sales tax exemption. With it, your initial solar costs will fall by 6%.
You will save even more if your account for the federal investment tax credit (ITC). In some cases, the ITC will reduce your costs by thousands of dollars.
So, as we mentioned, if you go for a 5kW solar system, you will pay $13,250. However, with the investment tax credit, the price will drop to $9,805.
Unfortunately, the ITC percentage decreases every year. Currently, it amounts to 26% of the cost of installing a solar energy system, but in 2021 it will drop to 22%. What’s more, the decline will continue in 2022 when the tax credit will be just 10%. So, if you want to go solar, now is the best time to do it!
Return of Investment
The payback period for a 5kW solar panel system is less than ten years. If you go for a smaller system, you should recover the cost of your investment even sooner. Also, during the first 20 years of using solar, you will save tens of thousands of dollars on electricity bills.
How to Start Using Solar in Florida
Before you can switch to solar power, you need to check if your household qualifies for it. For instance, your roof must have a certain size and also get enough sun exposure during the day.
If you meet all the criteria, you can start planning how to go solar. Usually, the fastest way to do that is by relying on the services of a solar system provider. However, keep in mind that today there are more than 200 solar panel installers and developers in Florida. Since not all of them are properly certified and insured, you need to be careful who you choose to hire.
As you can see, going solar in Florida is easier than ever before. Although home solar systems continue to be somewhat pricey, they pay back after a few years. Plus, with them, you get the chance to enjoy long-term electricity savings.
Still, be careful when you’re choosing a solar company. Otherwise, you may end up spending more than you need to or putting up with second-tier quality.
We at Atlantic Key Energy are among the top-rated solar companies in the Sunshine State. As such, we can make your transition to solar in Florida affordable and hassle-free. Call us, and we will give you a FREE quote on your solar panels today!