Benefits of Solar Energy
Solar energy offers multiple advantages. Here are some highlights.
- Lowered energy bills: You can skip the premium cost of grid-tied power by generating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems function through blackouts and emergencies, and you won't have to depend on the grid for your safety and well-being.
What Solar Incentives Are Available to Spring Hill Homeowners?
Governments and power companies often reward homeowners for going 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 Spring Hill
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Here are some crucial criteria to bear in mind while searching for a solar specialist.
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. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among 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 Spring Hill
The type of solar panels you choose decides how much power you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. 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.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can improve your solar system's efficiency. Not all solar providers provide these additional features, so look for a provider 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 Spring Hill. Use the table in this section to get an idea of what amount Spring Hill solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,110 |
| Solar Polycrystalline | $866 |
| Thin-Film | $506 |
| Solar Battery | $710 |
| Solar Home EV Charger | $2,664 |
Financing Solar Energy in Spring Hill
Solar installers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar loans, solar leases and cash payments. We suggest 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 minimize your total costs. Solar loans are another solid 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 rent your panels for a fixed 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. Look for contractors that offer multiple payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Spring Hill.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and specialized financing options 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 Spring Hill
How much energy and money could I save per year by switching to solar?
Is solar energy common in Spring Hill?
Will a solar PV system boost my Spring Hill home price?
What's a Spring Hill solar panel's average lifespan?
How long does the solar installation process require?
What is the average payback period for Spring Hill solar panels?
How are a solar lease and PPA different?
If you choose a lease, you'll make fixed payments each month.
With both leases and PPAs, you do not 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.
What's the difference between a PPA and traditional financing?
You might consider a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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