Are Solar Panels Worth It ?
Yes, solar panels are worth it in Florida for most homeowners due to the abundance of sunshine, favorable tax credits and incentives, and the potential to increase property value.
Solar panels can be a good investment in most cases, panels can last up to 25 years and reduce your energy bill dramatically.
Solar energy is an expensive upfront investment. But the cost of installing a system has savings from solar. Solar may be worthwhile if you have a steep roof and less sunlight.
Cost of Solar Panels?
Our 2023 survey found that 1,500 homeowners who have solar panels reported spending an average of between $15,000 and $20,000 on their systems. Solar installations are different. The Solar Energy Industries Association reports that solar installations can cost upwards of $25,000.
Other factors, such as your location and your provider, can also affect the cost of a solar system.
- Your home energy needs
- The size of your solar system
- What type of solar panels should you install
- Other equipment such as solar battery or Inverters
- Other services such as tree removals, energy audits, EV chargers and other related services.
To find out how much a solar panel system is going to cost, you need to ask a trusted installer for a quote.
What Can You Save With Solar?
In the U.S., the average payback period for a system of solar panels is approximately 8.5 years. You’ll save a lot of money by reducing your energy bills or even eliminating them after you pay off your solar system. If you consider that the average solar system can last 25 years or more, this is over 16 years in net savings. Over the lifetime of a solar energy system, most people will save thousands in energy costs.
Solar installations with storage systems are not only a great way to protect against the rising cost of electricity, but they also provide a backup power source during blackouts. Installing solar panels with backup batteries can be worth it if you live in a region prone to blackouts or severe weather.
The Benefits of Solar Energy
Switching to solar has three major benefits: reducing your carbon footprint, lowering energy costs and maximizing solar incentives.
Reduce Your Carbon Footprint
Installing a PV system will reduce your dependence on fossil fuels. According to the National Renewable Energy Laboratory, for every 1,000 kWh you generate with solar panels, you can save 1,400 pounds in carbon dioxide emissions. The average U.S. home can save nearly 17,000 pounds in carbon dioxide emissions each year.
Solar panels may be expensive initially, but the benefits over the long term can outweigh this initial investment. You can lower or eliminate your electricity bills by generating your electricity. Additionally, the solar panels can also increase the value of your house, and help you to save more money over time.
Solar Incentives Are Available to You
Federal and state governments both offer incentives to encourage the adoption of solar energy. These include tax credits, exemptions, Net Metering and rebates. All U.S. citizens are eligible for a federal solar tax credit worth 30% of your total solar system cost. Many states and utilities offer incentives to help you save more money when installing a solar system at home.
Cons of Switching to Solar
Solar energy is not for everyone. High upfront costs, weather dependency and aesthetics can all be reasons why homeowners hesitate.
High Up-Front Costs
Solar is an expensive investment, even though most homeowners are able to save money over the long term because they can drastically reduce or eliminate their energy bills. Our 2023 survey of 1,500 solar homeowners found that most paid between $15,000 to $20,000 for their systems. Although paying for your entire system up front will save you the most money, many installers also offer financing options including solar loans or leases.
Weather and Climate Dependence
Obstructions such as trees, seasonal changes and cloud cover can reduce the energy generated by your solar panels. Solar panels also do not produce energy when the sun doesn’t shine. These factors can affect the efficiency of solar panels.
Solar batteries and other energy storage options can be used to help alleviate these problems. net-metering is also available in most states. This allows you to trade the excess energy that your solar panels produce to the grid for a credit to your utility bill. The net metering credit can be used to offset the cost of energy purchased at night, when your solar panels are not operating.
Many people like the look of a traditional roof, and don’t like how rooftop solar panels look on a house. In order to address this problem, solar manufacturers developed solar tiles which blend in with the roof. They also accommodate concerns regarding solar panel appearance. Solar shingles, however, are usually more expensive and not available by most solar installers.
Overall, solar panels are a wise investment for most homeowners in Florida. They can provide significant financial savings, environmental benefits, and peace of mind.
Are Solar Panels Worth It in Florida? Are you still looking for more information?
Red Solar has the mindset of renewable energy being the future. We want everyone to travel through this transition. During the Red Solar energy evaluation, we analyze all energy commons in your home for results. Our experts will guide you through the process for better understanding and reassurance.
At Red Solar, we understand that going green can be expensive. That’s why we offer flexible financing options to make it easier for our customers to switch to renewable energy sources. We also provide free consultations so you can get all your questions answered before making any decisions about switching your home or business over to solar power.