Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Lowered energy bills: With a solar array, you generate power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on fossil fuels.
- Better energy independence: Solar energy can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Valrico Homeowners?
Governments and power companies often reward homeowners for adopting 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 Valrico
The more informed your company investigation is, the better your solar panels will ultimately operate. Make your choice based on the following crucial aspects.
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. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Solar installers can also pursue accreditations from standards organizations and trade groups. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Valrico
Your solar modules' type will influence how much electricity you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
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 all solar providers offer these add-ons, so look for a contractor that installs them if it's important for you.
Generally speaking, it will cost about $16,050 for a five-kilowatt solar array in Valrico. This table displays more specific costs for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,145 |
| Solar Polycrystalline | $893 |
| Thin-Film | $522 |
| Solar Battery | $733 |
| Solar Home EV Charger | $2,749 |
Financing Solar Energy in Valrico
Choosing the optimal financing plan will affect your overall solar system cost and expected savings. Common payment options include loans, cash payments, leases, and power purchase agreements. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to rent your panels for a set 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 do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for installers that offer two or more payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Valrico.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even 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 Valrico
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