Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery storage.
- Reduced carbon footprint: Embracing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity right where you use it.
What Solar Incentives Are Available to Cape Coral Homeowners?
Florida homeowners who decide on solar could qualify for tax credits, special financing, rebates and reimbursements. Here are just a few of the local incentive programs.
Incentive Type: Sales Tax Incentive
Incentive Type: Property Tax Incentive
Residential: 100% of the added value
Non-Residential: 80% of the added value
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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 Cape Coral
The more comprehensive your provider search is, the better your solar installation will ultimately operate. Consider all of these aspects in your service provider search.
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 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. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Cape Coral
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power. 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 need to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By choosing the right components, you can make your system more efficient and convenient to use. Not all solar contractors include these optional components, so look for a contractor that sells them if it's a priority for you.
If you're a resident of Cape Coral and are considering getting a five-kilowatt solar energy system, you could expect to pay about $16,050 for parts and installation. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Cape Coral
Solar companies offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar leases, power purchase agreements (PPAs), solar loans and cash payments. We advise paying with cash or using 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 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 installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. We recommend working with an installer that offers multiple financing options. Ask each representative about what's available, and acquire more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Cape Coral.
The IRS allows you to claim a 26% federal tax credit on total system costs, so long as you purchase it before 2032. Local governments and utilities might also offer their own rebates, incentives, and financing programs that could save you more money.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Cape Coral
How much money could I save by going solar in Cape Coral?
Is solar energy readily available in Cape Coral?
Will a solar PV system increase my Cape Coral home worth?
What if I live in a heavily-wooded or gloomy
What can I do to predict my home's solar potential?
What care do my solar panels need, and how often do they need it?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, specialty lenders, the government and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are higher, and you'll be responsible for upkeep, you'll also have full ownership rights and can apply for many more financial rewards.
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.