Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems work through power outages and emergencies, and you won't have to depend on the power grid for your safety and well-being.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by generating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: The sun is a highly abundant clean energy source, meaning you can reduce or eliminate your home's dependence on "traditional" sources.
What Solar Incentives Are Available to Boynton Beach Homeowners?
Governments and power companies often incentivize homeowners for adopting 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 Boynton Beach
The more thorough your company investigation is, the better your solar system will ultimately operate. Make your choice based on the following key factors.
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 exams to earn a CV license with the Florida Construction Industry Licensing Board. Florida 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 credentials. Two of the most respected 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 Boynton Beach
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power 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.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors provide these extras, so look for a contractor that sells them if it's crucial for you.
A majority of Boynton Beach homeowners choose solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $16,050 to set up, considering both materials and labor. You can see more specific solar cost information in the table.
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 Boynton Beach
Choosing the ideal financing plan will influence your overall solar system cost and potential savings. Common payment options include leases, cash payments, power purchase agreements, and loans. 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 an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each business you're vetting about the payment options it offers. A consultant can help you determine the optimal option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Boynton Beach.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
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 Boynton Beach
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Boynton Beach?
Should I anticipate a property value increase after installing solar panels?
What if I live in a gloomy or dark
How can I evaluate my property's solar potential?
Is solar panel installation a quick job?
Should I get quotes from multiple Boynton Beach solar companies?
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