Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Lowered energy bills: With solar panels, 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 number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Solar panel systems can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Palm Beach Gardens Homeowners?
Florida homeowners who choose solar could qualify for reimbursements, special financing, tax credits and rebates. Here are just a few of the region's incentive offerings.
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 Palm Beach Gardens
The more comprehensive your company investigation is, the better your solar installation will ultimately operate. Consider each of these elements 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 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 obtain accreditations 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 Palm Beach Gardens
The kind of solar panels you select determines how much power you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can enhance your solar system's performance. Not every solar contractor provides these extras, so look for a contractor that sells them if it's essential for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Palm Beach Gardens. This table displays more specific pricing information for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,126 |
| Solar Polycrystalline | $878 |
| Thin-Film | $513 |
| Solar Battery | $720 |
| Solar Home EV Charger | $2,702 |
Financing Solar Energy in Palm Beach Gardens
There are various ways to pay for new solar panels, and the right one will lower your costs. A few of the most common options include loans, power purchase agreements (PPAs), leases, and cash payments. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in certain circumstances. Look for providers 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 Palm Beach Gardens.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, 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 Palm Beach Gardens
How much money could I save by going solar in Palm Beach Gardens?
Is solar energy common in Palm Beach Gardens?
Will a solar PV system raise my Palm Beach Gardens home price?
How can I assess my home's solar viability?
Is installing solar panels a fast job?
What care do my solar panels need, and how frequently do they need it?
Should I get quotes from multiple Palm Beach Gardens solar companies?
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