Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Reduced energy costs: Producing some or all of your own electricity will spend less on electricity long-term. Plus, some states provide net metering programs that enable you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems work through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and well-being.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Oviedo Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the tax credits, rebates, 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 Oviedo
Choosing a company is the first step toward a well-oiled and valuable solar array. 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 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. Solar installers can also earn certificates from trade groups and standards organizations. The most prestigious 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 Oviedo
The type of solar panels you choose decides how much electricity you can produce. 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can increase your solar system's performance. Not every solar company offers these additional features, so look for a contractor that sells them if it's important for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Oviedo. This table shows more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,104 |
Solar Polycrystalline | $861 |
Thin-Film | $503 |
Solar Battery | $707 |
Solar Home EV Charger | $2,649 |
Financing Solar Energy in Oviedo
Choosing the correct financing plan will affect your overall solar system cost and possible savings. Common payment options include power purchase agreements, loans, cash payments, and leases. 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 runner-up 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 pay a monthly fee to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. We recommend working with a contractor that offers multiple financing options. Speak with each salesperson 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 Oviedo.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through local 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 Oviedo
How much energy and money could I save per year by switching to solar?
Is solar energy common in Oviedo?
Will solar energy systems improve my Oviedo home worth?
Could I still use solar power if I live in a wooded, rainy, or dark area?
What can I do to assess my home's solar potential?
How long does the photovoltaic installation process take?
How are a solar lease and PPA different?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you don't 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 Oviedo solar companies?
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