Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, minimizing your regular electricity costs. You can eliminate your bills completely if you go off-grid.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Photovoltaic systems with battery backups function through blackouts and emergencies, and you won't have to depend on your power company for your safety and well-being.
What Solar Incentives Are Available to Delray Beach Homeowners?
The state of Florida offers a range of solar incentives to help reduce your solar system costs. Here's a breakdown of available 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 Delray Beach
Choosing a company is the first step toward an effective and cost-efficient solar system. Here are some important factors to remember while shopping for a solar specialist.
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 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 providers can also earn accreditations from trade groups and standards organizations. 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 Delray Beach
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.
Additional components, such as battery storage and electric vehicle (EV) chargers, will increase your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these extras, so look for a provider that installs them if it's a priority for you.
You can plan to spend about $16,050 on average for a five-kilowatt solar energy system in Delray Beach. Check the table in this section to get an idea of the amount Delray Beach solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Delray Beach
There are numerous ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include loans, power purchase agreements (PPAs), leases, and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments require 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 car loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, similar to an electric bill. We usually don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each business you're vetting about the payment plans it offers. A consultant can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Delray Beach.
The IRS allows you to claim a 26% federal tax credit on total system costs, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Delray Beach
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Delray Beach?
Should I anticipate a boost in my property value after adopting solar power?
What can I do to calculate my home's solar potential?
How long does the solar panel installation process require?
How do I care for my new solar system?
How are a solar lease and PPA different?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
What's the difference between a PPA and traditional financing?
You might consider a PPA if you don’t want to be responsible for maintaining your panels 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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