Solar Energy in Florida: How It Is Growing In 2018

It hasn’t exactly been a smooth ride when promoting solar energy in Florida. It turns out that, although it’s called the “Sunshine State,” Florida isn’t exactly as solar as it’s made out to be. In Tallahassee, lawmakers are having trouble creating common-sense solar laws to motivate homeowners around the state to switch to solar energy.

Why has it been so difficult to convince people? That’s because utility companies that rely on coal have lower electricity prices. It also has to do with the millions of utility company dollars that are spent lobbying the legislature to keep good solar laws from getting passed in the first place. But it’s 2018, and lawmakers are breaking through and starting to bring light to solar energy in Florida.

What Are Some Solar Energy Initiatives Lawmakers Passed Recently?

Lawmakers in Florida have been working tirelessly to do everything they can to pass solar energy initiatives. In a recent ruling by the state’s Public Utilities Commission, it was decided that homeowners will have the opportunity for solar leasing. This make’s solar energy in Florida more affordable. Not to mention, there is also the amazing 30% Federal tax credit saving you money right away!

Under a power-purchase agreement (PPA) in Florida, solar installers sell you the electricity that those panels produce. You are saving money because the solar energy is sold to you at a lower rate than the retail price of electricity. A PPA comes with a guarantee that the panels produce a specific amount of electricity over the years. Everyone loves a guarantee!

The state of Florida says that using the PPA model, solar companies are forced to act like utility companies. This is a good thing because if the solar company doesn’t provide the appropriate electric service, it is not allowed to operate under Florida law. At the end of the day, it’s all to protect us homeowners looking to switch to solar energy in Florida.

Effects Of Solar Energy In Florida

Florida normally pays cheaper prices for a kilowatt-hour (kWh) of electricity. How much cheaper? It’s about 2 cents cheaper than the national average, coming in at about 11 cents for a kilowatt-hour. This is a good thing, isn’t it? After all, it’s not putting too much damage on your wallet when it comes to paying for electricity. But that’s only for now. You have to understand that electricity in Florida is so cheap because of fossil fuels. The abundance of greenhouse gas producing, non-renewable fossil fuels are helping us keep prices low, but when they themselves start to run low or burn out, guess what? You go that right. Electricity prices are going to sore sky high, at the blink of an eye.

There’s a reason the industry is growing in demand! It’s no doubt that switching to solar energy in Florida will save you a lot of money. Home solar is getting cheaper, but it’s continuing to be viable for homeowners to install solar panels, and they end up seeing the benefits immediately. So how’s solar energy in Florida starting to sound now?

Incentives For Homeowners

One incredible aspect of switching to solar energy in Florida is that you don’t have to worry about maintenance. The solar installations come with an average of 25-year warranties. Your roof will be making electricity and saving you a ton of cash for years to come.

Let’s talk more about solar leasing. It used to be that you would have to do an outright purchase for panels if you decided to switch to solar energy in Florida. Now, solar costs less than ever before, with lower equipment costs and a tax credit. That means solar offers the biggest financial return. In fact, if you go for solar energy in Florida, it will pay itself off in about 13 years!

It’s similar to a new car loan, but an outstanding investment because of the incredible savings. One way to get a solar loan is through a Home-Equity Line of Credit (HELOC), but there are also so many other great rates being offered by installers around the nation! The best part is you don’t have to put any money down, but you get all the incentives that come with switching to solar energy in Florida.

Instead of dropping around $16,250 on a solar system all at once, you can make affordable monthly payments, all while saving money on electricity. It’s especially a great option if you have equity in your home or are capable of getting a loan with a maximum interest rate of 5%. You will also receive a Federal tax break. Over the course of 25 years, your solar energy system will produce nearly $15,000 in income. This is even after your system cost is paid back. You could save $729 in just one year! Also, as electricity companies raise their rates, you will be saving more and more money! Does that sound amazing, or what?

Disadvantages

The disadvantages of switching to solar energy in Florida are very minimal. One thing is that your loan payments will be higher than energy bill savings, but that’s just at the beginning. You’ll end up spending roughly $59 a month on solar for the first year. The difference will gradually come down over the years.

There is also the fact that there are no solar tax credits to redeem. This is because Florida doesn’t have any income tax. But there are ways around it utilizing organizations like the Florida Alliance for Renewable Energy, and the Southern Alliance for Clean Energy. Their goal is to help you get all the benefits you deserve for switching to solar energy in Florida!

If you are a homeowner and have any questions about solar energy or you’re thinking about installing solar panels, don’t hesitate to speak to someone today by clicking here.