Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems function through blackouts and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-tied power. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Poinciana Homeowners?
Governments and utilities often incentivize homeowners for embracing solar. Here are some of the rebates, tax credits 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 Poinciana
Choosing a company is the first step toward an effective and valuable solar system. 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 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 pursue certificates from standards organizations and trade groups. 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 Poinciana
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can increase your solar system's efficiency. Not every solar contractor offers these add-ons, so look for a provider that installs them if it's essential for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Poinciana. This table shows more specific prices for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,088 |
| Solar Polycrystalline | $848 |
| Thin-Film | $496 |
| Solar Battery | $696 |
| Solar Home EV Charger | $2,610 |
Financing Solar Energy in Poinciana
There are numerous 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, cash payments, power purchase agreements (PPAs), and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car or home loan, 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 PPA lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in certain circumstances. We advise working with a company that offers multiple financing options. Speak with each salesperson about what's available, and acquire more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Poinciana.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans 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 Poinciana
How much energy and money could I save per year by switching to solar?
Is solar energy common in Poinciana?
Will solar panels increase my Poinciana home price?
How can I check my home's solar feasibility?
What's a Poinciana solar panel's average lifespan?
What's the average solar system size in Poinciana?
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Being evasive about references, warranties, training and credentials and cost
- Limited or no customization
- Rushing through the site assessment
- Limited online information
How are a solar lease and PPA different?
If you choose a lease, you'll make set payments each month.
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.
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