Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
- 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.
- Smaller power bills: Generating some or all of your own electricity will spend less on electricity long-term. Plus, some states offer net metering programs that make it possible for you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Davie Homeowners?
Florida homeowners who decide on solar could qualify for tax credits, reimbursements, special financing and rebates. Here are just a few of the area's incentive offerings.
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 Davie
Choosing a company is the first step toward an effective and cost-efficient solar system. 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 tests 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 pursue certificates from trade groups and standards organizations. The top 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 Davie
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 provide a lower price point but produce less power. 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.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can boost your solar system's performance. Not all solar contractors include these extras, so look for a company that sells them if it's a priority for you.
If you're a resident of Davie and are considering getting a five-kilowatt solar energy system, you could expect to pay about $16,050 for materials and labor. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,095 |
Solar Polycrystalline | $854 |
Thin-Film | $499 |
Solar Battery | $701 |
Solar Home EV Charger | $2,629 |
Financing Solar Energy in Davie
There are various ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include cash payments, loans, power purchase agreements (PPAs), and leases. 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 second most effective option. As with a car loan or mortgage, 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 let you rent your panels for a set monthly rate, while PPAs let you pay only 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 provider you're considering about the payment plans it offers. A representative can help you determine the best option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Davie.
The IRS allows you to claim a 26% federal solar tax credit on your new solar panels, so long as you purchase it before 2032. City and state 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 |
---|---|
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 Davie
How much energy and money could I save per year by switching to solar?
Is solar energy easily accessible in Davie?
Will solar panels raise my Davie home value?
How can I determine my property's solar suitability?
Is installing solar panels a fast job?
What is the average payback period for Davie solar panels?
What are the signs I shouldn't use a particular solar company for my job?
- Pushy sales approach
- Not being straightforward about warranties, training and credentials, cost and references
- Inflexible options
- Rushing through the site assessment
- Limited online information
What's the difference between a PPA and traditional financing?
You might consider a PPA if you don’t want to be responsible for maintenance and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
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