Are solar panels worth it in Florida? If you want to save money and add value to your home, the answer is yes! Florida residents who go solar are entitled to net metering credits under Florida state law. Net metering pays you for any excess electricity that you provide to the grid. Solar systems in Florida are also exempt from property and sales taxes.
Solar panels add more value to homes in Florida
Solar panels add value to homes in all states, but there are six states where going solar adds more value to homes, and Florida is one of them. The news is especially good for residents of Orlando, where going solar adds 4.6% to the value of a home, according to research by zillow.com. The researchers in the study said that new home buyers found the future energy savings provided by solar panels very desirable.
How net metering works in Florida
Net metering works the same in Florida for all three of the state’s main utilities. The utility company monitors your energy consumption throughout the month. If you use less electricity than you produce, you are credited for that excess power at the end of the month. The credit you earn each month per kilowatt-hour is the same as the rate you pay per kilowatt-hour. But at the end of the year, the rate you are compensated at is the utility’s avoided-cost rate. The avoided cost is the rate that the utility company would normally pay a power plant to buy electricity. That rate is lower than the rate you pay the utility company for the power you consume.
How to make solar panels worth it in Florida
Since Florida utility companies pay you less for electricity than they charge you, it’s a good idea to use as much of your own electricity as possible. Plan to run major appliances during the day as much as you can. Installing a smart home system enables you to schedule appliances to run even when you’re not home. Another thing to keep in mind is that your solar system’s output varies by season. It produces 65% of its power in the spring and summer, and 35% during the fall and winter. Thankfully, that means you’ll have the power to offset your air conditioning bills in the summer.
Solar panels may make it worth it to switch to time-of-use billing
Another way you may be able to save money is to switch to a time-of-use plan. If you can reduce your power usage during peak-rate hours, you can run your appliances during off-peak hours and take advantage of lower off-peak rates. For example, Florida Power and Light has off-peak hours during the summer of midnight to noon, and then 9 PM to midnight. Noon is the time of day when your system’s production is at its highest. You can use power from your solar from noon until the sun starts to set. That can help reduce the amount of power you use during peak rate hours. Just be sure to reduce your power consumption as your system’s power output declines in the afternoon.
Freedom Forever makes solar panels worth it in Florida
The money you can save on electricity plus the value that solar panels add to your home makes solar panels worth it in Florida. Freedom Forever can build you a solar system that gives you peace of mind with our 25-year production guarantee.
We guarantee that your solar power system will meet its promised production amount for 25 years.
Freedom Forever guarantees that the solar system will produce the electricity promised with our 25-Year Production Guarantee. We will even pay you for any shortfall that results from our fault. Your actual savings will depend on your usage and electricity rates in your area. Remember to manage your power usage wisely!