Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on fossil fuels.
- Lower utility costs: Producing some or all of your own power will cut power costs long-term. Plus, some states provide net metering programs that allow you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Adding a battery backup or storage system lets you have dependable energy during grid outages and storms.
What Solar Incentives Are Available to Miramar Homeowners?
The state of Florida offers a number of solar incentives to help reduce your solar system costs. Here is a breakdown of applicable 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 Miramar
The more thorough your company investigation is, the better your solar installation will ultimately operate. Make your choice based on the following essential elements.
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. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the Solar Heating Installer and PV Installation Professional 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 Miramar
Your solar modules' model will affect how much electricity you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company includes these add-ons, so look for a provider that installs them if it's crucial for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Miramar. This table displays more specific costs 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 Miramar
There are numerous ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include cash payments, power purchase agreements (PPAs), loans, and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate determined by the energy you use, akin to an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Look for companies that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Miramar.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own rebates and financing plans that could reduce your total cost even 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 Miramar
How much money could I save by going solar in Miramar?
How common is solar energy in Miramar?
Will solar panels improve my Miramar home worth?
What can I do to predict my home's solar potential?
How do I care for my new solar system?
What's the average solar system size in Miramar?
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, the government, specialty lenders and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are more expensive, and you'll be responsible for maintenance, you'll also have total ownership and can apply for many more incentives.
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