Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Utilizing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar panel systems can keep your home running through blackouts and emergencies. You can use your solar energy anytime with optional battery backup.
- Smaller power bills: Sourcing some or all of your own electricity will cut power costs long-term. Plus, some states offer net metering programs that make it possible for you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Palm Harbor Homeowners?
Florida homeowners who upgrade to solar could qualify for rebates, special financing, tax credits and reimbursements. Here are just a few of the area's incentive programs.
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 Harbor
The more informed your company research is, the better your solar installation will ultimately perform. Make your choice based on the following key factors.
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 exams to earn a CV license with the Florida Construction Industry Licensing Board. Florida also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Solar providers can also earn accreditations from trade groups and standards organizations. The top ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Palm Harbor
The type of solar panels you choose determines how much energy you can produce. 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 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 improve your solar system's efficiency. Not every solar provider offers these add-ons, so look for a provider that installs them if it's important for you.
If you're a resident of Palm Harbor and are looking into a five-kilowatt solar energy system, you could expect to pay about $16,050 for parts and installation. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,092 |
Solar Polycrystalline | $852 |
Thin-Film | $498 |
Solar Battery | $699 |
Solar Home EV Charger | $2,621 |
Financing Solar Energy in Palm Harbor
Solar companies use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), cash payments and solar leases. We recommend making a cash payment or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA 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 specific circumstances. We suggest working with an installer that offers multiple financing options. Speak with each representative about what's available, and obtain more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Palm Harbor.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Further 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 Palm Harbor
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Palm Harbor?
Will solar energy systems boost my Palm Harbor home price?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How can I check my home's solar viability?
How many years will a standard solar system last?
What are some "red flags" to watch for as I research companies?
- High-pressure sales tactics
- Being evasive about warranties, references, cost and credentials and training
- Limited or no customization
- Rushing through the site assessment
- No references or testimonials
How many estimates should I get before making a final solar company decision?
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