Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems work through blackouts and emergencies, and you won't have to rely on the grid for your safety and comfort.
What Solar Incentives Are Available to University Homeowners?
The state of Florida offers a variety of solar incentives to help offset your solar system costs. Below is a breakdown of applicable 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 University
Choosing a company is the first step toward a well-oiled and valuable solar array. Here are some important factors to remember while shopping for a solar installer.
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. The Sunshine State 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 certifications. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, awarded 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 University
The kind of solar panels you choose determines how much electricity you can generate. Monocrystalline panels and high-quality and 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 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 raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these additional features, so look for a company that installs them if it's important for you.
Generally speaking, it costs about $16,050 for a five-kilowatt solar array in University. This table shows more specific pricing information for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,108 |
Solar Polycrystalline | $864 |
Thin-Film | $505 |
Solar Battery | $709 |
Solar Home EV Charger | $2,660 |
Financing Solar Energy in University
Choosing the right financing solution will influence your overall solar system cost and potential savings. Common payment options include power purchase agreements, leases, cash payments, and loans. 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 own your system and can apply for solar panel incentives to minimize 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 monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We suggest working with a provider that offers multiple financing options. Speak with each salesperson about what's available, and secure more than one estimate for the best odds of keeping within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in University.
The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.
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 University
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in University?
Should I expect a property value increase after switching to solar energy?
Could I still use solar power if I live in a rainy, dark, or wooded area?
How long does the photovoltaic installation process require?
What size should my new University solar system be?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, specialty lenders, local banks and the government. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for upkeep, you'll also have full ownership rights and can apply for many more incentives.
Should I get quotes from multiple University solar companies?
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