As a Florida homeowner, you may be considering if solar panels would work for you. After all, Florida has plenty of sunshine. It also has relatively high energy costs compared to other states in the region, and cooling costs alone during the long, hot summers may be increasing your household budget. In this post, we’ll discuss how Florida residents can benefit from solar energy to lower their power costs.
If You’ve Got Sunshine, Flaunt It
Much of Florida’s appeal is related to sunshine. (It’s not called “The Sunshine State” for nothing!) On average, the state gets between 220 and 266 days of sunlight each year (depending on the location within the state). The lack of snow and ice during the winter means solar panels will be effectively harvesting energy year-round with little to no maintenance. When you choose a professional solar panel installation company then you can make nearly any home situation – facing any direction – work well.
Significantly Reduce Your Energy Costs
While solar does require a significant upfront investment, most homeowners will save (on average) about $1,200 per year once solar panels are installed. This means homeowners will often recoup the investment in the panels within 10 years or less, particularly if they produce excess energy they can sell back to their utility.
In addition, as both states and the federal government adopt more clean energy policies to help the planet, renewable energy such as solar will become standard in the future. In fact, the utility companies themselves are switching over to renewable energy. With solar panels, you can be more in charge of your home’s renewable energy plan rather than paying the utility company to do it.
Boost Your Home’s Resale Value
Solar panels are a great choice in Florida because they can significantly raise your home’s value, according to CNBC, and Florida is ranked among the top 10 states in the country for the highest resale value for homes with solar installations.
What Incentives are Available?
Florida residents are in luck thanks to an extension of the solar tax credit. The state’s Solar Tax Credits were set to drop from 26 percent to 22 percent at the start of 2021 and then expire entirely at the beginning of 2022. The good news is that the state has pushed out an extension for the credit. Until the end of this year (2022), Florida residents can still receive the 26 percent reduction on their solar panel purchase and installation costs. For example, if you have priced a solar installation at $10,000, you could receive Solar Tax Credits of $2,600, bringing the total cost down to $7,400.
In addition, these credits can be carried forward to the next tax year if the homeowner isn’t able to take the full credit in the year the installation occurred. The IRS has also shared guidance that solar battery systems are eligible for Solar Tax Credits, as well.
Solar Panels Are Exempt from State Sales Tax
In the State of Florida, the purchase of a solar panel system and battery backup, as well as installation costs, are completely exempt from the state’s six percent sales tax. For a $10,000 solar installation, that means you’re keeping $600.
Consult with a Professional
At SAVKAT®, we help homeowners understand their options when it comes to solar energy. Throughout the installation, we handle all logistics from permitting to inspections. After systems have been turned on, we monitor all sites for accurate production estimates and exceeding performance expectations. We are proud to have a five-star rating from our customer base. For more information, call 727-565-0123 or visit our website for more information or to make an appointment for a consultation.