Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with an optional battery backup system.
- Lowered energy bills: With a solar array, you produce power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Titusville Homeowners?
Florida's public agencies and power companies offer a variety of solar incentives to help lower your solar system costs. Check out a breakdown of relevant solar programs where you live.
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 Titusville
Choosing a company is the first step toward an effective and cost-efficient solar array. Make your choice based on the following vital factors.
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. 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 accreditations. Two of the most recognized 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 Titusville
The style of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies provide these additional features, so look for a company that sells them if it's a priority for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in Titusville. This table displays more specific pricing information for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,092 |
Solar Polycrystalline | $852 |
Thin-Film | $498 |
Solar Battery | $699 |
Solar Home EV Charger | $2,620 |
Financing Solar Energy in Titusville
Choosing the ideal financing solution will influence your overall solar system cost and expected savings. Common payment options include power purchase agreements, leases, loans, and cash payments. We advise making a cash payment 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 panel incentives to cut 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 spend 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 fluctuating rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. We recommend working with a company that offers multiple financing options. Talk to each salesperson about what's available, and acquire 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 Titusville.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Further 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 Titusville
How much money could I save by going solar in Titusville?
How prevalent is solar energy in Titusville?
Will solar panels improve my Titusville home price?
What if I live in a heavily-wooded or gloomy
How long is a Titusville solar panel's average lifespan?
How long does it take to pay back a solar loan in Titusville?
How does "net metering" work, and do I need to participate?
Some states or energy providers oblige you to join net metering when installing your solar system, while others give you a choice. Either way, once you sign up, you'll earn a bill credit or check for your excess generation at a retail or wholesale rate.
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