Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Solar systems with battery backups work through power outages and emergencies, and you won't have to depend on the grid for your safety and comfort.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely.
What Solar Incentives Are Available to Riverview Homeowners?
Governments and power companies often reward 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 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 Riverview
The more informed your company investigation is, the better your photovoltaic system will ultimately perform. Consider all of these aspects in your company 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. Florida also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Riverview
The kind of solar panels you select dictates how much energy you can produce. Monocrystalline panels give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will raise your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor offers these additional features, so look for a provider that sells them if it's important for you.
If you're a resident of Riverview and are looking into a five-kilowatt solar energy system, you could plan to spend about $16,050 for materials and labor. See more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Riverview
Solar installers offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, solar leases, solar loans and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, as with an electric bill. We typically don’t recommend these two choices because you won't own the panels and are disqualified from using solar incentives. We recommend working with an installer that offers multiple financing options. Speak with each salesperson about what's available, and get 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 Riverview.
A 26% federal tax credit applies to new residential solar equipment purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Riverview
How much money could I save by going solar in Riverview?
How common is solar energy in Riverview?
Will solar panels boost my Riverview home worth?
Is installing solar panels a quick job?
What care do my solar panels need, and how frequently do they need it?
What is the average payback period for Riverview solar panels?
What is "net metering," and how does it work?
Some states or utilities require you to join net metering when installing your solar system, while others give you a choice. Either way, once you sign up, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Not being straightforward about references, warranties, cost and credentials and training
- Limited or no customization
- Rushing through the site assessment
- Limited customer feedback
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.