Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Lower utility costs: Generating some or all of your own power will save you money on your electric bills 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 solar battery storage system lets you have reliable energy during storms and grid outages.
What Solar Incentives Are Available to Parkland Homeowners?
Florida homeowners who go solar could qualify for rebates, reimbursements, tax credits and special financing. Here are just a few of the area'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 Parkland
The cost and effectiveness of solar panels often depend on the solar company that installed them. Consider each of these criteria in your business search.
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. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Parkland
Your photovoltaic panels' model will affect how much energy you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
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 all solar contractors provide these extras, so look for a contractor that installs them if it's a priority for you.
You can expect to pay about $16,050 on average for a five-kilowatt solar energy system in Parkland. Check the table in this section to get an idea of how much Parkland solar companies might quote for your specific solar system's price.
| 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 Parkland
Solar companies offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, solar leases, power purchase agreements (PPAs) and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, much like 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. Ask each business you're vetting about the financing options it offers. A consultant can help you determine the most suitable option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Parkland.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Extra 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 Parkland
How much energy and money could I save per year by switching to solar?
How common is solar energy in Parkland?
Will a solar PV system increase my Parkland home worth?
Is installing solar panels a quick job?
How do I care for my new solar system?
What is the average payback period for Parkland solar panels?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to "buy out" of the contract for a fee.
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