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.
- Better energy independence: Adding a battery backup lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Parkland Homeowners?
Florida homeowners who choose solar could qualify for tax credits, reimbursements, special financing and rebates. Here are just a few of the local incentive offerings.
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 Parkland
Choosing a company is the first step toward an effective and valuable solar energy system. Consider all 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 tests 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 certifications from standards organizations and trade groups. The most recognized 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 Parkland
Your solar panels' model will impact how much power you can generate. Monocrystalline panels perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will increase your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these extras, so look for a contractor that installs them if it's crucial for you.
Most Parkland homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $16,050 to install, considering both parts and installation. You can see more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Parkland
There are many ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include loans, leases, power purchase agreements (PPAs), and cash payments. We recommend paying with cash or securing a solar loan for the highest 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 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 benefiting from 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 variable rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. We advise working with a provider that offers multiple financing options. Talk to each salesperson about what's available, and secure more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Parkland.
You are eligible for a 26% federal tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and dedicated financing plans that could save you more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Parkland
How much money could I save by going solar in Parkland?
Is solar energy common in Parkland?
Will solar panels raise my Parkland home worth?
How long does the solar panel installation process take?
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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