Solar in Florida, when and Why Homeowners are making the switch
with the cost of electricity, available incentives, the climate, and sun’s angle on your roof – all impact how quickly you break even on your investment. The first step to understanding your solar savings is to calculate how much you are currently spending on electricity every year. For example, the average annual electricity use required for a U.S. household is 10,649 kilowatt-hours (kWh). Multiply by your annual Kilowatt-hours on your bill and what your electric company is charging you per kilowatt hour and see what you’re spending yearly on electricity. On average, electricity users in Florida spend about $254 per month on electricity. That adds up to $3,048 per year. That’s 31% higher than the national average electric bill of $2,328. So we decided to put together a list of when it makes sense to consider Solar.
When solar panels are worth it, and when they aren’t
Solar panels are usually most worth it if:
- You own your property. Renters or business owners who do not own their property should speak to the property owner prior to making any plans to install a solar system.
- You pay a high price for electricity. The higher your electric rate, the faster your solar panel system will save you money. These days, solar shoppers “break even” on their solar investment in seven to eight years.
- Cash in the Federal Incetive Tax Credits. Most Florida residents are eligible to receive the Federal Solar Tax Credit—also known as the Residential Clean Energy Credit. This allows eligible homeowners to deduct up to (Or keep it, it’s your money!) 30% of their solar panel installation cost from their federal income taxes
- Control and own your power and electric bill When you own your own solar system, everything is yours, the panels, the power and the benefits. This means you have complete control over your electricity all while severing your dependence on your electric company once and for all. With electricity prices climbing each year at ridiculous rates, switching to solar gives you complete control over your electric bill. So by using the sun as a cost saving alternative, you won’t be stuck paying those rising rates in Florida. Duke Energy customer’s should expect to see atleast a 13% Increase this year per their website.
- desire to lower Carbon footprint. The quantity of greenhouse gas emissions from your home electricity use depends on the types of fuel your power plant uses to generate the electricity and the amount you use.The quantity of greenhouse gases emitted from your furnace and boiler depends on the efficiency of these items, the size and insulation of your house, and the amount and type of fuel used. Solar panels emit around 50g of CO2 per kWh produced in its first few years of operation. By the third year of having solar panels, most solar panels become carbon neutral. This is still roughly 20 times less than the carbon output of coal-powered electricity sources. Let’s be honest, the main reason to think about making the switch is savings. But it doesn’t hurt to save the planet at the same time!
When Solar Panels are probably not worth it.
- #1 There’s nowhere else to put solar panels.
- #2 You plan to move or sell your home within the next couple of years. few studies have shown that solar installations increase a home’s resale value by up to $6,000 for each kilowatt of solar panels installed, or by about 5% of the home’s value. so if you plan on moving with in 3 years. Best to hold off on solar until you’re in your next home.
- #3 Your electricity costs are already low.
- #4 You’re not eligible for incentives and rebates.
If you fit these criteria, solar panels are probably worth it! What’s more, even homes and businesses that don’t meet these points perfectly can benefit from solar with the right installation. It’s best to let one of our Solar Panel Engineer’s come and give your Home a look over and discuss.
Remember, not all will/can qualify so it’s best to call or schedule a free inspection on our website today to see if going solar is good fit for your family and your home.