Florida is called the sunshine state for a reason. Florida has 10% more sunshine when compared to the averages of other states. This sunlight provides summertime fun and a great getaway for snowbirds, but in that sunlight is untapped potential. Florida has over 6 kilowatts of solar power to capture per meter a day. And with electricity bills increases the way they are accessing this solar energy is more important than ever. Luckily, it is cheaper than ever before to get solar panels installed on your property. There are a variety of reasons why you should get solar power for your Florida home. Here are the top 3 simplest reasons why!
Florida is Prime Sunshine Real Estate
As mentioned, Florida has 10% more sunshine than the national average. It produces an average of 6.17 kilowatts per meter per day. When it comes to the amount of sunshine per year, Florida ranks 7 in comparison to all other States. In Florida, a stellar thirty percent of the year is marked by clear skies—peak energy production for solar panels.
When it comes to sunlight in specific locations and cities, Key West receives the highest amount of peak sun hours due to its position near the equator, averaging 5.5 hours per day. But even a northern city like Jacksonville gets a whopping 5 hours of peak sun hours.
Now that you know the great energy potential of Florida sunshine, it’s time that you see the financial reasons to get solar.
With All that Energy Comes Stellar Savings!
There is a reason that the amount of peak sun hours Florida gets is important: savings.
Having solar panels on your house producing energy for your home can potentially save you a lot of money. Florida has the second highest utility bill averages in the US. What’s the greatest contribution to this discrepancy? Your electricity bill.
With all that sunlight comes heat, so Floridians are constantly running air conditioning. Understandable since the high humidity makes the heat absolutely unbearable. The average Floridian spends about $121 in electricity a month, a fourth of the average total cost of utilities—a massive amount. Solar panels, especially those connected to the utility grid with a net metering system, can save an average of more than $91 a month! That is over 75% of slashed off the average electricity bill.
Now how does this compare to the upfront cost of solar? You might be intimidated by the investment costs of solar, but we can tell you that the fear is unfounded thanks to the industry’s expansion and several incentives that help you save money.
All the Incentives for Solar Panels
The cost of solar power in Florida has reduced drastically through the years. As of January 2020, Florida’s average cost of solar power was $2.70 a watt. The lowest in the entire country! But beyond the drastic price reduction, there are a couple of incentives available to Floridians when getting a Solar Panel system.
Federal Solar Tax Credit
The Federal government in 2021 is all in on renewable energy sources and is providing incentives to boost investment in the solar industry. Currently, the government allows homeowners to claim 26% of the cost of their solar system as an income tax deduction. That means you will be potentially receiving thousands of dollars back for the cost of the solar system. And if your tax liability is under 26% of the cost of your solar system, you take the remaining balance and roll it over for a period of up to 10 years.
There will be plenty of times throughout the year where your solar panels will be making more energy than used. You can store this excess energy in a solar battery, but that can be an exceptionally pricey addition to your solar panel system. In Florida, net metering is an extraordinary solution to the excess energy problem.
Net metering, or NEM, is a grid-tied system that connects your solar power system with the larger electric grid. Any excess energy is sent back to the utility company, like FPL, and credited back to you at the standard rate. NEM is what allows you to cut just about 75% of your electricity bill thanks to the energy production powering your home and the excess power sold to your utility company.
Solar Energy That Works for You
If you want to save more money, modernize your home, and reduce your carbon footprint, then PES Solar is the way to go. We help make solar work for you by providing a free estimate and zero-down financing on residential panel installations. Contact us to get a free estimate on solar panels.