With a more than a generous amount of sunlight, Florida isn’t dubbed the Sunshine State for nothing. Thus, homes and businesses that install solar systems are getting a lot more solar energy than those in most states.
The cost of solar panels in Florida has also taken a downward spin, the lowest in recent years. This cost depends on the size of your solar system among other factors.
Whatever the case, we can get you started for as low as $0 down payment! Moreover, monthly repayments are less than what you’ll pay your utility company. We’ll install the panel and other equipment and get the necessary permit without you paying a dime. You only make monthly repayments and still have enough left to save each month.
Let’s calculate how much a solarTechElec customer, Rovy, spends before and after installing solar, and the amount of money he can save in 20 years.
Utility Company Energy Costs (Before Solar Installation)
Rovy pays the utility company an average of $240 monthly. In a year, it totals $2,880. That’s a whopping $57,600 in twenty years. With inflation and power costs hikes, he’ll definitely pay more.
Solar Energy Savings (After Solar Installation)
He stopped paying the utility company and started getting paid for generating credit instead.
Removing a monthly utility charge of $10.57, he generates a credit balance of $107.53 every month. In 20 years, that amounts to $25,807.2
Savings from utility cost + Credit savings = Total savings
$57,600 + $25,807.2 = $83,407.2
Again, this is without factoring in inflation and hike in energy cost.
Financial Incentives in the Sunshine State
Federal Solar Tax Credit
You can take advantage of a federal solar tax credit that currently stands at 30% of the total installation cost. The sad news is that it ends in 2019. If you don’t install your solar system before Dec 31, 2019, you’ll lose out on thousands of dollars.
Florida is one of the states in the US with an outstanding net metering program. This is how it works.
If your solar system generates more energy during daylight hours than you need, it goes back to the grid. You can later use this energy at night. The utility company also sends you a check at the end of the year if there’s any excess left.
Property Tax Exemption for Homeowners
You also don’t need to pay an additional tax for installing solar energy in your home, thanks to Florida’s Property Exclusion for Residential Renewable Energy Property.
Solar Sales Tax Exemption
According to Solar and CHP Sales Tax Exemption, you won’t pay sales tax when you purchase your solar system.
Best Time to Install Your System is now
There’s no better time to leverage the incentives on solar panels installation. Contact us now and let’s discuss how we can help.