Are Solar Panels Worth It In Florida

Technicians from solar source install solar panels on a house in dunedin florida.

Are solar panels worth it in florida.

Are solar panels worth it for florida power and light electric customers. Solar pv systems in florida typically cost about 14 700 and can pay for themselves in approximately twelve years with just the energy output of the machine alone. While that s a lot of money this is rarely the amount you ll actually pay after all incentives are factored in. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. How are you financing your solar panel system. The low cost of electricity in florida and more specifically in the florida power and light service area has meant that fpl has less solar customers than equivalent sized utilities in other states. The energy you export during non peak hours will be worth the non peak rate currently 1 665 cents per kwh.

Residents can also save about 800 a year on their utilities alone which is average for most 5kw systems when you consider all the sunlight florida receives. Solar panel installers in florida. Despite the middling grade homeowners who install solar panels in florida can see decent returns with nearly 40 000 in net savings over time. And with the federal solar tax credit continuing to decrease in size next year 2020 is a great time to choose solar panels for your home.

The average cost of solar power in florida is 2 70 watt as of january the lowest cost in the entire country. In 2020 they also remain subsidized by the 26 federal tax credit and the net metering law making them an excellent investment. Is solar worth it in florida. Are solar panels worth it in florida solar panels have fallen in price by more than 80 in the last ten years.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. Based on the price of electricity in florida an average of 0 11 per kw and high amounts of sun 10 more than average compared to other states solar power is 5 more cost effective than the rest of the nation. Consequently the solar panels cost in florida is one of the cheapest residential solar panels installation costs in america. Similarly energy exported during the peak period will be worth the peak rate 15 823 cents per kwh.

Solar panels are somewhat recommended in florida.