Are Solar Panels Worth It In Florida

Florida ranks ninth nationally in solar resource strength according to the national renewable energy laboratory and tenth in solar generation.

Are solar panels worth it in florida.

Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market. Most florida residents now pay 2 70 watt which is a real bargain. Florida has low electricity costs compared with other states which makes individual solar investment less attractive. Technicians from solar source install solar panels on a house in dunedin florida.

Chris zuppa the penny hoarder. Ten years ago solar was close to 7 00 watt. Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels. 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. We asked patrick altier owner of the florida based energy company solar trek to explain further. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. Solar power in florida has been increasing as the cost of solar power systems using photovoltaics pv has decreased in recent years.

Florida residents who install rooftop solar panels are eligible for the federal renewable energy tax credit. 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. 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. Are solar panels worth it for fpl residential customers.

The florida power and light net metering rate is currently around 10 5 cents per kwh. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. While solar leases and power purchase. 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. Altier told us that floridians who have solar panels on their homes can use energy from the sun.