Benefits of Solar Energy
Solar energy offers multiple advantages. Here are some highlights.
- Lower energy bills: Generating some or all of your own energy will cut power costs long-term. Plus, some states offer net metering programs that allow you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with optional battery storage.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
What Solar Incentives Are Available to Boca Raton Homeowners?
Governments and utility companies often incentivize homeowners for embracing solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Sales Tax Incentive
Incentive Amount:
All
Incentive Type: Property Tax Incentive
Incentive Amount:
Residential: 100% of the added value
Non-Residential: 80% of the added value
Incentive Type: PACE Financing
Website: floridapace.govIncentive Amount:
Determined locally
Incentive Type: Loan Program
Website: lakelandelectric.comIncentive Amount:
$5,000
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Boca Raton
The more informed your company research is, the better your photovoltaic system will ultimately operate. Here are some key items to consider while shopping for a solar installer.
Licensing and Training
Once an electrical professional in Florida has four years of field experience, including one year as an apprentice, they can take two tests to earn a CV license with the Florida Construction Industry Licensing Board. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. You should also visit a company's website to learn about its private accreditations. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Boca Raton
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for accessories. By selecting the right components, you can make your system more productive and user-friendly. Not every solar provider offers these optional components, so look for a provider that sells them if it's important for you.
You can expect to pay about $16,050 on average for a five-kilowatt solar energy system in Boca Raton. Use the table in this section to get an idea of how much Boca Raton solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,126 |
Solar Polycrystalline | $878 |
Thin-Film | $513 |
Solar Battery | $720 |
Solar Home EV Charger | $2,702 |
Financing Solar Energy in Boca Raton
There are many ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include power purchase agreements (PPAs), leases, loans, and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or car loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate determined by the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Look for contractors that offer several payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Boca Raton.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Further incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.7 years |
2 kW | 3.5 years |
5 kW | 8.6 years |
10 kW | 17.3 years |
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Frequently Asked Questions About Solar in Boca Raton
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Boca Raton?
Will a solar PV system raise my Boca Raton home price?
Is solar installation a quick job?
What's the average solar system size in Boca Raton?
How long does it take to pay back a solar loan in Boca Raton?
What is "net metering," and how does it work?
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