Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip the premium cost of grid-tied power by generating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Reduced carbon footprint: Utilizing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to Largo Homeowners?
The state of Florida offers a range of solar incentives to help cut your solar system costs. Below is a breakdown of relevant solar programs where you live.
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 Largo
Choosing a company is the first step toward an effective and cost-efficient solar array. Here are some crucial criteria to consider while shopping for a solar provider.
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 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. You should also visit a company's website to learn about its private accreditations. Two of the most prestigious 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 Largo
The kind of solar panels you choose determines how much electricity you can produce. Monocrystalline panels and high-quality and 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 the best for large residential installations, but they are excellent accessories for non-traditional roofs.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more efficient and convenient to use. Not all solar contractors offer these optional components, so look for a provider that sells them if it's important for you.
A majority of Largo homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $16,050 to set up, considering both materials and labor. You can see more specific solar cost information 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 | $2,621 |
Financing Solar Energy in Largo
Solar companies use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, solar leases, power purchase agreements (PPAs) and cash payments. We advise paying with cash or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to cut your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases let you use your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, akin 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 installer you're evaluating about the payment plans it offers. A salesperson 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 Largo.
You are eligible for a 26% federal solar tax credit for new solar energy devices 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 Largo
How much money could I save by going solar in Largo?
Is solar energy widely available in Largo?
Should I anticipate a property value increase after adopting solar power?
What if I live in a heavily-wooded or dark
How many years does a common solar system last?
What maintenance do my solar panels need, and how often do they need it?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to "buy out" of the contract for a fee.
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from specialty lenders, local banks, installer and the government. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for upkeep, you'll also have total ownership and can apply for many more benefits.
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