Florida is a great place to install solar panels. Florida’s combination of great sun exposure, solar tax credit, net metering policies, and strong financing options allows homeowners to enjoy a high return on their investment in residential solar panels. This article will include all you need to know about solar panels in Tampa FL!
Solar panels costing more than 80% less than 10 years ago is a significant savings. They also provide homeowners with thousands of dollars worth of savings over their 25-to-30-year lifespans.
After taking the 26% federal tax credit, the average cost of a Florida residential solar system is $11,442. This works out to $2.58 per watt. There is however some variation in the prices of solar energy in different areas.
Are Solar Panels Worth The Investment In Florida?
Over the past ten years, solar panels have seen their prices drop by more than 80%. They will continue to be subsidized by the 26% federal credit and net metering law, making them an excellent investment.
Another way to approach this question is to calculate the cost per kWh of electricity you will consume over the next 25-years with or without solar panels. The savings can be significant!
Federal Solar Tax Credit
Each homeowner in the United States can earn a federal tax credit that equals 26% of the cost to install solar. You can be eligible for the credit if you have income. This will allow you to significantly reduce the cost of going solar in the second year.
Floridians have Net Metering. This means that all the kWh (kilowatt hours) of electricity generated from your panels will reduce your monthly electric bill by the same amount. This can reduce your monthly electric bill to as little as a few dollars per month, only what it costs to maintain a connection to the grid. The utility company will give you a check for excess electricity if your system produces more than you use during the year multiplied with their wholesale energy rate, or avoided cost.
Florida residents can also benefit from a few state-sponsored solar incentives that can help make the decision to go green easier. Sunshine State solar installation exemptions are available for both property and sales tax. This means that your purchase of solar panels will be less expensive upfront and your property taxes will not rise.
How Long Can Solar Panels Last?
Minimum 25 years, but most commonly 30+. We know that solar panel performance can depreciate over time. We advise referencing the Manufacturer’s data sheet before purchase. We are proud partners with Silfab Solar – which offers premium grade panels suitable for residential and commercial use.
Are Solar Panels Subject To Regular Maintenance?
They can be cleaned if they get dirty. If your system does not come with maintenance coverage, it’s worth double-checking before purchase. Solar Tech Elec provides labor and service guarantees on our installations. However, if you bought your system with a different contractor, we can provide inspections and maintenance plans through Shield Your Solar. Visit the website for more information.
Solar Panels in Tampa Florida!
Solar panels can generate different amounts depending on where they are located.
Florida’s greatest advantages for solar panel installation are the financial savings. The 26% federal tax credit is one of the best. Florida offers several state-level incentives to help lower the initial cost of solar panels.
There will be no incentives to help you install solar panel in Florida soon. In just two years, the federal solar tax credit will be reduced to zero, meaning that home solar installations won’t reap the same financial benefits.