Are Solar Panels Worth The Investment In Florida

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you.

Are solar panels worth the investment in florida.

Solar panels are somewhat recommended in florida. Ultimately solar panels can be a solid investment and save you a lot of money in the long run. This generous rebate effectively knocks off 26 percent of the cost of your new solar energy system right off the bat as a credit on your income tax. Any customer of peace river electric coop who puts up solar panels has to sign a solar interconnection agreement which now includes a penalty of 5 00 per kilowatt usually 11 or 14 cents per kw for every kilowatt of power that is used during and after 15 minutes of higher than usual power usage.

Florida residents who install rooftop solar panels are eligible for the federal renewable energy tax credit. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. Chris zuppa the penny hoarder. Crunch the numbers to see what sort of return you re looking at and decide whether they re the right.

Is solar worth it in florida. Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels. Are residential solar panels worth it for my house. Most property owners can break even on their solar investment in 7 to 8 years.

With a solar payback period of between 4 10 years this represents a simple investment return of between 10 25. Most florida residents now pay 2 70 watt which is a real bargain. It s equal to 30 percent of the cost of a pv solar system for systems in service by the end of 2019 with the credit decreasing through 2021. The cost of solar power in florida and america as a whole has been on a steady decline.

In central florida starting november 1st 2016. Technicians from solar source install solar panels on a house in dunedin florida. Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market. Ten years ago solar was close to 7 00 watt.

Start comparing solar quotes on the energysage marketplace to see how much you can save. In addition to florida s net metering policy and tax exemptions to encourage solar energy the federal government gives you another huge incentive known as the investment tax credit itc.