Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Better energy independence: Adding a battery backup or storage system lets you have reliable energy during grid outages and storms.
- Reduced carbon footprint: Adopting solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Lower utility costs: Generating some or all of your own electricity will cut power costs long-term. Plus, some states offer net metering programs that allow you to sell your unused energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Brandon Homeowners?
Governments and utilities often reward homeowners for switching to solar. Here are some of the rebates, tax credits 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 Brandon
The more informed your provider search is, the better your photovoltaic system will ultimately perform. Make your choice based on the following essential elements.
Licensing and Training
Once an electrical professional in Florida has four years of field experience, including one year as an apprentice, they can pass 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. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Brandon
Your photovoltaic panels' model will influence how much electricity you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors provide these add-ons, so look for a provider that installs them if it's important for you.
Generally speaking, it will cost about $16,050 for a five-kilowatt solar array in Brandon. This table displays more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,145 |
Solar Polycrystalline | $893 |
Thin-Film | $522 |
Solar Battery | $733 |
Solar Home EV Charger | $2,749 |
Financing Solar Energy in Brandon
Solar providers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are cash payments, solar loans, solar leases and power purchase agreements (PPAs). We suggest making a cash payment or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, similar to an electric bill. We generally don’t recommend these two choices because you won't own the system and cannot use solar incentives. Look for companies that offer multiple 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 Brandon.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans 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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Brandon
How much money could I save by going solar in Brandon?
Is solar energy common in Brandon?
Should I expect a property value increase after installing solar panels?
Could I still use solar power if I live in a rainy, wooded, or dark area?
How long does the solar panel installation process last?
How long does it take to pay back a solar loan in Brandon?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from the government, specialty lenders, local banks and installer. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for taking care of the system, you'll also have full ownership rights and can apply for many more benefits.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.