Are Solar Panels Worth It In Florida

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.

Are solar panels worth it in florida.

Florida has low electricity costs compared with other states which makes individual solar investment less attractive. The cost of solar power in florida and america as a whole has been on a steady decline. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. We asked patrick altier owner of the florida based energy company solar trek to explain further.

Most florida residents now pay 2 70 watt which is a real bargain. 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. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group.

Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market. Florida ranks ninth nationally in solar resource strength according to the national renewable energy laboratory and tenth in solar generation. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. The tax break reduces.

Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels. Altier told us that floridians who have solar panels on their homes can use energy from the sun. Solar power in florida has been increasing as the cost of solar power systems using photovoltaics pv has decreased in recent years. The payback period for fpl customers that install solar panels is longer than in some states largely due to the relatively low cost of power.

While solar leases and power purchase. Solar energy system rebates are issued by the commission pursuant to sections 377 801 377 806 florida statutes and chapter 27n 1 florida administrative code contingent upon an annual appropriation by the legislature of the state of florida for the specific purpose of funding solar rebates. The florida power and light net metering rate is currently around 10 5 cents per kwh. Are solar panels worth it for fpl residential customers.

Technicians from solar source install solar panels on a house in dunedin florida. Florida residents who install rooftop solar panels are eligible for the federal renewable energy tax credit.