Are solar panels worth it in Florida? If you’re a property owner in the Sunshine State, you might be asking that very question! It’s a valid question, as solar panel installation might run into thousands of dollars. Though, solar power does save on your energy costs while improving property values.
When it comes to investing in solar panels, there is no “one size fits all” answer. However, knowing how solar works and its advantages can help you decide if their investment is right for your property. With that in mind, consider some benefits of going solar in Florida!
To decide if solar panels are worth it for your property, consider some advantages of solar power. Then, you can discuss any added questions with a solar installer near you as needed.
Perhaps the most common reason for property owners to choose solar is that it offers clean, eco-friendly, unlimited, renewable energy. Let’s look at what those terms mean, so you better understand why solar is right for your property.
First, consider what is meant by clean energy. While electricity itself doesn’t generate fumes or pollutants, plants generating that power are heavy polluters! Power plants in the U.S. produce tons of carbon emissions and other pollutants every year. On the other hand, solar panels produce electricity without any emissions.
Next, note that solar is eco-friendly. To use solar power, you don’t need to dig, blast, or otherwise harvest that energy. You also don’t deplete water sources or disturb nearby wildlife! Consequently, solar power is probably the most eco-friendly energy source you can choose. as a residential electricity user.
Also, consider that solar offers unlimited, renewable energy. In other words, we will never run out of solar power! However, the planet can run out of nonrenewable energy sources such as coal, oil, and certain gasses. Additionally, even renewable energy sources such as trees need planting and care to replace those cut down for fuel.
Consequently, solar power is the best choice for providing energy without damaging the environment. It also doesn’t need replacing, making it simple to harvest and use as energy.
Homeowners can expect to save thousands of dollars in utility costs with solar panel installation. While savings vary, these reduced energy costs alone are a good reason to consider solar! Even if you only save a few thousand dollars on your electric bill per year, that’s still money in your pocket.
Also, choosing solar allows you to upgrade your appliances and electronics without worrying about increased energy costs. Homeowners can then enjoy oversized washers and dryers or chef-inspired kitchen appliances without dreading that monthly bill! Solar panels also mean less worry about rate increases from local power companies.
Some studies have shown that a solar panel installation can increase a home’s value by 4% or more. That’s $4000 for every $100,000 in property values! That increase can allow you to build equity faster and sell your property for more money if you should decide to put it on the market.
Also, note that Florida offers a 100% property tax exemption for increased value from solar. In other words, even if your property’s value increases due to a solar installation, your property taxes won’t increase along with it!
Installing and recycling solar panels are very labor-intensive industries; in turn, they both create local jobs! When you choose solar, you’re supporting local installers plus manufacturers, delivery companies, and others. Consequently, you are also supporting your area's economy by choosing a solar installation.
Note that Florida currently does not collect state income tax, so there is no state tax credit for solar. However, the federal government has extended tax credits for solar installations as part of the Inflation Reduction Act of 2022. This provision allows for a 30% credit through 2032. The credit then reduces to 26% in 2033 and 22% in 2034.
Additionally, Florida currently offers a 100% sales tax exemption for solar panels. In turn, you can purchase those panels without having to pay standard sales tax on the materials! Also, many cities offer various rebates and credits for solar usage. To find out more, talk to a solar installer or a representative from your utility company.
Most homeowners can expect solar panels to pay for themselves after about 7-10 years. However, some property owners might break even in as little as 5 years! Your payback period depends on a few factors, including:
Note that your solar panel installation contractor can help determine how much energy your panels might produce. Additionally, they can help figure out the cost savings you might enjoy over the years.
As solar panels have no moving parts, they don’t typically just “wear out” and stop working. However, sunlight exposure does damage those parts over time. In turn, solar panels lose their effectiveness as they age. For most panels, this occurs at about a 0.5-1% annual rate. For these reasons, it is important to choose a solar panel installer with a strong production guarantee so you can be sure of what your system is expected to produce every year.
In other words, solar panels usually work about 1% less effectively every year. Consequently, 10-year-old panels might have lost 10% of their efficiency. This means that they work only 90% as effectively as new panels. Twenty-year-old panels might work at 80% efficiency, and so on.
This loss of efficiency is why many consumers tend to replace their panels after 25 or 30 years. At that time, investing in new panels is worth the cost, as they’ll work more effectively. Their energy cost savings offset that new panel investment cost.
Also, consumers might donate those older panels to local schools or charities! While older panels might not offer tremendous cost savings, they do reduce energy bills for those organizations and donating them can also be tax deductible.
More good news for eco-friendly consumers is that solar panels are virtually 100% recyclable! Solar panels consist of glass, aluminum, and some plastics, all of which are recyclable. Many recycling centers are already receiving older solar panels for breaking down and reusing.
Additionally, recycling solar panels involves manually tearing apart those panels. In turn, solar panel recycling creates jobs for those in the industry. Also, note that solar panels don’t contain chemicals or other harsh materials. Consequently, even if consumers don’t recycle those panels, their materials are not harmful to the environment.
Florida offers consumers a unique setting for solar panels, as it’s known as the “Sunshine State”! In turn, consumers don’t need to make changes to their property to get the most out of those panels. However, note some suggestions for ensuring your panels work effectively:
Above all, ensure you work with a reputable solar contractor for installation and repairs. Using a contractor with a track record of quality work guarantees solar panel effectiveness on your property! Also, don’t hesitate to ask that contractor for suggestions on how to ensure your panels work as they should. They can typically share excellent advice for enjoying maximum returns on your solar panel investment.
From our standpoint, solar IS worth it in Florida. While electricity bills remain lower, homeowners are continually making the switch to solar for clean energy, increased property values, and more.
Alliance Solar is happy to help answer the question, are solar panels worth it in Florida? Hopefully, you found this information useful and informative. If so, please be sure to share it with friends and family, especially those living in the Sunshine State. Additionally, if you’re ready to invest in clean, green solar, call our Florida solar panel installation contractors. We offer FREE consultations and installation price quotes. To get your property started with eco-friendly, affordable solar, call us today!
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