Benefits of Solar Energy
Solar energy comes with multiple advantages. Let's look at a few of them.
- Better energy independence: Solar panel systems with battery backups and storage systems work through power outages and emergencies, and you won't have to depend on your power company for your safety and well-being.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, reducing your monthly electricity costs. Going off-grid can eliminate your bills completely. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Daytona Beach Homeowners?
Florida homeowners who choose solar could qualify for tax credits, special financing, rebates and reimbursements. Here are just a few of the region's incentive programs.
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 Daytona Beach
The purchase price and efficacy of solar panels often hinge on the solar company that mounted them. 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 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. You should also visit a company's website to learn about its private certifications. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Daytona Beach
The style of solar panels you select dictates how much power you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can maximize your solar system's efficiency. Not all solar companies provide these extras, so look for a provider that sells them if it's important for you.
If you're a resident of Daytona Beach 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 | $1,092 |
| Solar Polycrystalline | $852 |
| Thin-Film | $498 |
| Solar Battery | $699 |
| Solar Home EV Charger | $2,620 |
Financing Solar Energy in Daytona Beach
There are a plethora of ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include leases, loans, power purchase agreements (PPAs), and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA 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 particular circumstances. Look for installers that offer multiple payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Daytona Beach.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and specialized financing options that could save you 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 |
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Frequently Asked Questions About Solar in Daytona Beach
How much energy and money could I save per year by switching to solar?
Is solar energy common in Daytona Beach?
Should I expect a property value increase after installing solar panels?
Could I still use solar power if I live in a wooded, dark, or rainy area?
How can I assess my home's solar viability?
How long does a standard solar system last?
What is "net metering," and how does it work?
Some states or energy providers require you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
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