Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Lower utility costs: Producing some or all of your own electricity will save you money on your electric bills long-term.
- Better energy independence: Solar panels can keep your home running through blackouts and emergencies. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Cutler Bay Homeowners?
Governments and utilities often reward homeowners for switching to solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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: Rebate ProgramWebsite: fkec.com
Central A/C: 30%
Ductless Mini Split A/C: 30%
Room A/C: 30 %
Solar Water Heating: 30%
Window Film/Solar Screen: 100%
Cool/Reflective Roof Coating: $25 per 5 gallon bucket
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 Cutler Bay
Choosing a company is the first step toward an effective and valuable solar energy system. Consider each of these aspects in your business 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. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Solar companies can also obtain certifications from trade groups and standards organizations. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Cutler Bay
The kind of solar panels you choose decides how much electricity you can generate. Monocrystalline panels cost more but give you the best performance. 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 system add-ons, such as battery storage and electric vehicle (EV) chargers, will raise your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies offer these additional features, so look for a company that sells them if it's essential for you.
A majority of Cutler Bay homeowners opt for solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $16,050 to install, considering both materials and labor. You can see more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Cutler Bay
There are various ways to pay for new solar panels, and the right one will lower your costs. A few of the most common options include cash payments, leases, loans, and power purchase agreements (PPAs). 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 incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, much like 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 provider you're vetting about the financing options it offers. A representative can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Cutler Bay.
The IRS allows you to claim a 26% federal tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, rebates, and financing programs that could save you more money.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Cutler Bay
How much money could I save by going solar in Cutler Bay?
Is solar energy widely available in Cutler Bay?
Will solar energy systems increase my Cutler Bay home worth?
What can I do to assess my home's solar potential?
How many years does a standard solar system last?
How long does it take to pay back a solar loan in Cutler Bay?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Being evasive about credentials and training, references, warranties and cost
- Limited or no customization
- Superficial, rushed site evaluation
- No business filing with your local secretary of state
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