Think about both the pros and cons of solar panels in Florida as you think about how to invest in solar power. There are many benefits to purchasing solar energy systems, but there are also some factors to keep in mind to ensure you are getting the best energy solution for your home and budget. Before you make a decision, take a closer look at the pros and cons of solar panels in Florida. SmartSolar can help you determine which type of solar power system is best for your home and how to go about installing solar panels. Contact us today to get started on your energy independence journey!
The Bottom Line:
- What are the benefits of solar panels in Florida? - The constant sunlight, the high demands for power, the lower electricity bills, and the higher home value all make solar panels a worthy investment.
- What are the drawbacks of installing solar panels in Florida? - In some cases, the upfront costs of solar installation might be too high, the installation might take too long and might not be possible, and it could increase your home’s tax value.
- Should you consider solar panels? - With Florida power providers offering competitively priced systems, this could be a good way for you to save money.
What Are the Benefits of Solar Panels in Florida?
As you think about investing in a solar panel system for your home, make sure you take into consideration all of the benefits you'll have by living in Florida. Here are some of the most significant advantages of solar panels.
Florida has lots of sun, which means most areas have ample solar energy. Solar panel installation here means that you are likely to have a roof that gets direct sunlight most days of the year. Since solar panels need to have direct sunlight in order to function at their best, living here means you can likely count on there being enough solar electricity to meet your home's needs on an ongoing basis.
Better solution for high demands for power
More so, as the Sunshine State, when you make the move to solar panels here, you are doing a great thing to reduce your carbon footprint. The high temperatures here often mean people rely on their solar power systems for their air conditioners throughout the summer months. That often leads to high electric bills simply because you need more power for most homes. By making the move to solar, you are doing your part to reduce your dependence on power as Florida homeowners, putting less strain on the grid during the hot months, and also reducing your carbon footprint.
Lowering electricity bills
When you buy solar panels, your energy costs will almost certainly go down. According to the US Department of Energy, solar is the “fastest growing and most affordable source of new electricity in America.” Your electricity bills are likely to be much lower than what you are paying right now to purchase electricity through your utility company. By installing solar, you are able to lower how much money you are paying each month to power your home. Everyone wants a lower electricity bill, especially as the cost of energy continues to rise, including in areas like Florida. Solar panels in Florida just make sense as they can save money.
Boost your home value
More Florida residents are making the move to install solar panels. People who are buying homes are more interested in homes that already have solar panels installed. That means that your home's value could rise if you install solar panels. For those who plan to sell their home in the coming years, having solar panel systems in place could help you sell faster or command more for your home. That could be worth it for many people.
Less dependence on the energy grid
The investment in a solar energy system means that your home is able to generate electricity to power your home. That leads to energy independence. Instead of relying on utility companies to keep your home's energy levels up, you can rely on your home's system. That is, if a power outage affects all of your neighbors, it is unlikely to affect yours as long as your solar energy system is collecting and storing solar electricity for your home. If you have been left without power before, you know how impactful that can be. Install solar panels to combat this risk and concern.
You could qualify for the federal solar tax credit
Residential solar power systems qualify for the federal solar tax credit. The federal tax credit is an exceptional tool that aims to help homeowners who install solar panels get something back for doing so. The federal investment tax credit is a bit complex, but it results in much more affordable solar panel costs.
As noted by the U.S. Department of Energy, the solar panel tax credit provides homeowners who install solar panels on their homes with a tax credit. That is a dollar-for-dollar savings on your federal income tax liability. It is worth up to 30% of the cost of solar panels installed on your home. Keep in mind that the year you install them may affect how much money you save.
Tax credits reduce what you owe in taxes to the federal government. That means that, with the federal tax credit, you can reduce how much you owe to the government in the year you install solar panels. This makes it an attractive way to lower solar system costs. Keep in mind that this only covers all solar panels that meet the federal government's requirements, as well as those that you are purchasing or using solar financing for. Leased solar panels do not qualify for this savings opportunity.
Solar systems do their part to protect the environment
Fossil fuels are those that come from the planet. They are limited in supply. They include everything from natural gas to oil. The key here is that the burning and use of fossil fuels create carbon dioxide and increase the risk of pollution on the planet.
Solar power is a type of clean, renewable energy. There is no risk of running out of solar energy; the sun's rays continue day after day. In this way, switching to renewable energy means you are doing your part to reduce the overall impact of heating, cooling, and powering your home on the environment. This alone makes it worthwhile for many people in Florida.
You may be able to tap into net metering
Net metering allows you to sell excess energy back to the utility company if your solar panel system produces too much or more than your home needs. That can further lower your electricity costs.
What are the drawbacks of installing solar panels in Florida?
There are some drawbacks to installing solar systems in Florida. Even with solar incentives and all of the opportunities available, it is important to consider these drawbacks.
The upfront costs could be high
The initial cost of installing a solar system may be higher than many people believe. That is, you may have to pay $10,000 to $20,000 to have a solar system installed. Keep in mind that solar incentives could lower that for you, making it more affordable to purchase.
Also, you could consider a solar lease. You would not qualify for the tax incentives, but you may be able to save money on electricity costs through this method. In it, you would use a power purchase agreement with the utility company to help you save money. It does not require an upfront cost.
Your home's taxable value could increase
Depending on where you live, this could be a factor. You may have to pay sales tax as well.
Solar panel installation takes time and may not be possible
Before you can put solar panels on your roof, you might need to fix some things first. If the roof system is not in good condition, that can mean that your roof will need repairs or updates before a new system can be installed for solar energy.
Not all the solar panels on the market are the same
As you consider solar panels' cost, overall availability, and how solar panels can offer energy cost savings, know that not all solar panels are the same. Some solar panel manufacturers offer more efficient solutions than others. You should consider a wide range of solar panel manufacturers before you invest, and be sure to know what your energy needs are before you move forward. The solar panel installation needs to match your specific home's needs to make it the most efficient solution for you. Then, compare a few products to see which one will work best for your home overall.
Should You Consider Solar Panels?
The entire country could benefit from solar use as it works to provide a way to make energy consumption more manageable. Yet, those in Florida may find that solar panels provide them with the best overall way to save money. With Florida power providers offering competitively priced systems, this could be a good way for you to save.
Let Us Help You Take a Closer Look
With a few tax exemptions and a wide range of benefits, solar panels could be the right choice for your home. To find out how it could impact you, take our SmartSolar quiz. You will learn just how beneficial solar can be for your home. Contact us today to learn more.