Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip the premium cost of grid-tied power by creating some electricity at home.
- Better energy independence: Solar systems with battery storage work through power outages and emergencies, and you won't have to depend on the power grid for your safety and comfort.
- Reduced carbon footprint: Using solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to North Miami Homeowners?
Governments and utilities often incentivize homeowners for adopting solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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 North Miami
The more informed your provider search is, the better your solar panels 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 take 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. Solar companies can also obtain certifications from standards organizations and trade groups. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in North Miami
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options. 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.
If you want to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more productive and convenient to use. Not every solar provider provides these extras, so look for a contractor that installs them if it's crucial for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in North Miami. This table shows more specific pricing information for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in North Miami
There are various ways to pay for new solar panels, and the right one will reduce your expenses. A few of the most common options include power purchase agreements (PPAs), cash payments, leases, and loans. Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a home or auto 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 allow you to rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar 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. Look for providers that offer two or more payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in North Miami.
You can claim a 26% federal tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own financing plans and rebates that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in North Miami
How much money could I save by going solar in North Miami?
Is solar energy easily accessible in North Miami?
Should I expect a property value increase after going solar?
What can I do to estimate my home's solar potential?
How do I care for my new solar system?
What size should my new North Miami solar system be?
How are a solar lease and PPA different?
If you choose a lease, you'll make set payments each month.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
Should I get quotes from multiple North Miami solar companies?
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