Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Better energy independence: Solar panel systems can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Lowered energy bills: With a solar array, you create power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. 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.
What Solar Incentives Are Available to Lauderdale Lakes Homeowners?
Florida agencies and electric companies offer a number of solar incentives to help lower your solar system costs. Check out 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 Lauderdale Lakes
The more informed your company investigation is, the better your solar system will ultimately operate. Consider all of these factors in your contractor search.
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. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Lauderdale Lakes
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options 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.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, 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 add-ons, so look for a contractor that sells them if it's crucial for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Lauderdale Lakes. This table lists more specific prices for different solar panel types and system components in your area.
| 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 Lauderdale Lakes
There are a plethora of ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include leases, power purchase agreements (PPAs), cash payments, and loans. Though it requires 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 or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to rent your panels for a set monthly rate, while PPAs let you pay only for the energy you use, much like 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 company you're vetting about the financing options it offers. A staff member can help you determine the most suitable option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Lauderdale Lakes.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and unique financing solutions 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 Lauderdale Lakes
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Lauderdale Lakes?
Should I anticipate a boost in my property value after adopting solar power?
How can I check my home's solar suitability?
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