Benefits of Solar Energy
Solar energy comes with multiple advantages. Let's look at a few of them.
- Lowered energy bills: With a solar array, you produce power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely.
- Reduced carbon footprint: Using solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery backup lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to Coral Springs Homeowners?
Florida's public agencies and power companies offer a range of solar incentives to help minimize your solar system costs. Below is a breakdown of applicable solar programs where you live.
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 Coral Springs
The cost and efficiency of solar panels often rely on which company installed them. Consider each of these elements in your contractor search.
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. Solar companies can also earn certifications from standards organizations and trade groups. The most prestigious ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Coral Springs
The kind of solar panels you select dictates how much electricity you can produce. Monocrystalline panels give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor includes these optional components, so look for a contractor that installs them if it's essential for you.
If you're a resident of Coral Springs and are looking into a five-kilowatt solar energy system, you could expect to pay about $16,050 for materials and labor. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Coral Springs
Choosing the ideal financing solution will affect your overall solar system cost and possible savings. Common payment options include power purchase agreements, cash payments, leases, and loans. Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the runner-up option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Look for installers that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Coral Springs.
You are eligible for a 26% federal tax credit for new solar power systems until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and unique financing solutions that could save you more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Coral Springs
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Coral Springs?
Will solar energy systems boost my Coral Springs home worth?
How can I determine my home's solar feasibility?
What upkeep do my solar panels need, and how often do they need it?
What is the average payback period for Coral Springs solar panels?
Should I get quotes from multiple Coral Springs solar companies?
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