Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar panel systems can keep your home powered through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Smaller power bills: Sourcing some or all of your own electricity will spend less on electricity long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Land O' Lakes Homeowners?
Governments and utilities often reward homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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 Land O' Lakes
Choosing a company is the first step toward an effective and valuable solar energy system. Make your choice based on the following important considerations.
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. 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, granted 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 Land O' Lakes
The style of solar panels you select dictates how much power you can generate. Monocrystalline panels and high-quality and 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 the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors offer these optional components, so look for a contractor that installs them if it's crucial for you.
Most Land O' Lakes homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $16,050 to set up, considering both parts and installation. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,108 |
Solar Polycrystalline | $864 |
Thin-Film | $505 |
Solar Battery | $709 |
Solar Home EV Charger | $2,660 |
Financing Solar Energy in Land O' Lakes
Solar installers offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar leases, solar loans 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 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. Similar to an auto or home loan, you'll pay a set monthly rate with potentially $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, as with an electric bill. We typically don’t recommend these two choices because you won't own the panels and are disqualified from using solar incentives. We suggest working with a contractor that offers multiple financing options. Speak with each representative about what's available, and get more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Land O' Lakes.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
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 Land O' Lakes
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Land O' Lakes?
Should I expect a boost in my property value after installing solar panels?
What can I do to predict my home's solar viability?
What's a Land O' Lakes solar panel's average lifespan?
How do I care for my new solar system?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Dodging questions about references, warranties, cost and credentials and training
- Inflexible options
- Rushing through the site assessment
- Limited customer feedback
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 solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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