Solar Panels in Florida | 2021 Cost and Incentives | SaveOnEnergy®

Florida Solar Panels: Pricing and Incentives

Florida solar panels

The self-described Sunshine State is a wonderful place to shop for solar panels. Florida is currently ranked 4th in the country for solar energy generation. Despite the popularity of solar in Florida, there is still a lot of untapped potential. The state hasn’t introduced all the incentive measures available to promote solar energy yet. However, residential customers who want to add solar panels to their homes will find a variety of options. There are 414 companies that provide Florida solar panel installation. Many parts of the state are great candidates for solar panels because of the amount of sun. This could allow Florida residents to produce most if not all of their electricity right at home.

Florida solar panel cost

Solar panels themselves have come down in price in recent years. There is greater interest from manufacturers, along with advances in technology. The cost of solar panels is expressed in dollars per watt of energy generated. An average system for a residential property will cost $3-5 per watt and total about $15000 to $25000 on average. But many people see substantial savings afterward because of the federal solar tax credit. This credit can reimburse you for a portion of the cost of solar panels in Florida in the form of a credit on your taxes. 

While the sticker price is high, many solar systems allow you to reduce or eliminate your monthly electricity bill. It usually only takes 6-9 years to pay back the initial investment in electricity generated. Many solar panels have lifespans of 20-30 years. This leaves most homeowners who buy Florida solar panels with many years of self-generated electricity.

Why choose Florida solar power?

One of the most practical reasons to opt into Florida solar power is that, over the life of the panels, the kilowatt-hours of electricity they produce are much cheaper. The upfront cost may seem daunting at first. But installing Florida solar power means you’ll have free electricity after your payback period. What’s more, potential homebuyers see a solar panel array as a benefit, raising your home’s value. The longer you have solar panels, the lower your per-hour electricity usage costs become, since you buy the system upfront and draw value on it for decades afterward.

Any time a power outage from a Florida hurricane leaves you without electricity, it’s tempting to find a way to be more energy independent. Many turn to Florida solar panels, especially those that have a battery back-up, because it lowers their reliance on the power company in order to have electricity. Surges in demand on the grid won’t impact your electric rates on your personal solar panel costs, and issues with the power supply won’t impact your home system.

Many Floridians also want to have a positive impact on the Earth. Solar panels are one way to reduce your environmental footprint, since your home is one of the places where you can have the most impact as an individual. Clean energy doesn’t emit carbon dioxide into the atmosphere, allowing you to reduce the greenhouse gas emissions that you create in a given year, all while saving on your electric bills long-term.

Florida solar panel incentives and rebates

Incentives and rebates are some of the ways that governments motivate people to install solar panels in Florida. Costs of solar panels can be offset by tax credits and other Florida solar incentives.

Florida offers some incentives and rebates that allow you to lower the payback period for your solar panel purchase. One statute established that sales tax wouldn’t be charged on solar panels, and various cities have special incentive programs for renewable energy generation in their area. Low-interest loans are available in some areas to spread out the costs as well. Net metering is also available, a Florida solar incentive that allows qualified solar power systems to sell back energy into the power grid, saving money when they generate more than they use.

The United States federal government has also extended a major 26 percent tax credit for those installing solar panels in Florida in 2021 and 2022. This tax credit may take some time to arrive, but when you receive the money from your tax refund, you can cover more than a quarter of the cost of solar panels in Florida.

Should I buy or lease my solar panels?

At least two models for Florida solar power exist: in one model, a company brings solar panels out and places them on your home but keeps ownership of them. Instead of you getting the electricity from those panels for free, you pay to lease the solar panels. While the rate may be lower than that of the conventional electricity company in your area, there will never be a time when the leased panels are “fully yours.”

Buying solar panels outright, on the other hand, requires an initial financing choice: you’ll either need to search for a solar loan or pay upfront to get the panels onto your home. Once you have made your purchase, however, every year that you use your solar panels moves you toward generating a return on your initial investment. Many people see a beneficial return by year 10 or earlier. And if they sell their homes, the return on investment can be around $15,000.

A happy in-between that many communities are starting to offer is the chance to buy into a large offsite solar facility through a community solar program. Depending on the structure of the program, you may be able to pay a very competitive rate for solar energy without having the upfront costs of a solar system on your own roof.

Florida solar panel companies

There are many Florida solar panel companies that offer installation for your home. Many of these Florida installers can customize a solar system that is ideal for your household. Begin your research into the solar industry with the guides and resources on this page. Once you know the basics of solar panels, finding the right Florida solar panel installer should be much easier.

The history of solar power in Florida

Florida’s sunny weather in many areas allows it to be a leader in the solar energy production space, ranking fourth in the country. Recent growth in utilities who are investing in solar farms has brought the percentage of electricity generated by solar panels up to a little over 3 percent. This is strong growth but has room for improvement. TIA Solar is among the largest solar installations in the state, generating 1 MW or enough power for 175 homes, but big things are still in store – the state is poised to see even more growth in the solar sector in coming years.

Important solar installation factors to consider

While Florida is known for sunny skies, solar panels can still generate electricity on rainy and cloudy days. These days just produce a lower output. However, if your home doesn’t receive much sun, that will impact your solar installation’s effectiveness and the length of its payback period. The state, age, and angle of your roof can also impact efficiency. By reading up on what makes solar panels work well, you can determine whether your home’s roof is a good candidate for solar panels in Florida. Lastly, HOAs and neighborhood associations may have an approval process or regulations regarding solar panels, so go through all the appropriate channels before initiating this investment.

Florida solar power FAQs

How much would solar cost in Florida?

The cost depends on your installer and the price per watt for your solar panels. It also has to do with the size and style of your roof. In general, prices range from $15,000 to $25,000 for residential solar panel installations.

Is solar power a good investment in Florida?

You’ll want to factor in your own location and the weather there. You should also think about your own energy usage and how much your solar panels will generate. In many cases, though, solar panels in Florida have a payback period of under 10 years, leaving 10 or more years of “free” energy afterward for you. This makes them a good investment for many people.

How much could I save by investing in solar?

If your panels run for 10 years after their payback period, you’d get 10 years of $0 electric bills. This is a conservative estimate in many cases. If you sell your home with solar panels on it, you may see a price increase of $15,000. There is a lot of interest in homes with solar panels now. You’ll likely save both on your bills and when you go to sell.

Where can I find a good solar panel installer in Florida?

Florida offers a variety of good solar panel installers. Be sure to do your research before signing a contract with an installer. Read reviews, ask for customer references, and research the company’s track record before making your decision. SaveOnEnergy offers a host of tips and guides to make understanding the solar panel industry easier.

How does solar power help the environment?

Unlike fossil fuels, solar power doesn’t emit carbon dioxide or pollutants. The sun is a renewable resource, unlike oil reserves in the ground. When you invest in solar panels, you lower your carbon footprint. When you invest in solar power, there is less carbon in the atmosphere even if you continue to use a similar amount of electricity.