Is It Worth It To Get Solar Panels In Florida

While that s a lot of money this is rarely the amount you ll actually pay after all incentives are factored in.

Is it worth it to get solar panels 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. 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. Florida s average cost of a solar panel installation ranges from 11 262 to 15 238. This puts an average 6 kw solar system at 16 200 before claiming any incentives.

A lease typically allows homeowners to add rooftop solar panels with zero upfront costs making it a possibility for many more people. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. This new financial option makes right now an excellent time to add rooftop solar panels to your home. Another calculation that potential solar buyers have to consider is the solar payback period.

We asked patrick altier owner of the florida based energy company solar trek to explain further. But not all states allow for that. To make solar panels affordable many rooftop solar users sell excess electricity back onto the grid. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system.

Altier told us that floridians who have solar panels on their homes can use energy from the sun. The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied. That s not bad but it s not the best and we d like to see the state government do more to support people making the smart decision to add solar panels. Why it s so hard to get solar in florida that d be the.

Now let s talk about solar power in the state of florida. It s called the sunshine state for a reason solar energy is plentiful here. As of september 2020 the average solar panel cost in florida is 2 65 w given a solar panel system size of 5 kilowatts kw an average solar installation in florida ranges in cost from 11 262 to 15 238 with the average gross price for solar in florida coming in at 13 250 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net. We recently applauded florida for its decision to allow solar leases.

The average cost of solar power in florida is 2 70 watt as of january the lowest cost in the entire country. 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. On a cost per watt w basis a solar panel installation in florida ranges in price from 2 25 to 3 05.