Solar power is a great way to harness the power of the Florida sunshine to save you money and help the environment. After all, what better place to rely on solar power than the Sunshine State! On average, there are 290 sunny days in Florida, meaning more than half of the year, your solar panels will generate more than enough electricity for your home.
You probably already know the basic idea of solar energy. Solar panels capture energy from the sun and convert it into electricity to power your home. The power gets stored in batteries for use even when the sun isn’t shining.
Lowering Your Electric Bill
One of the obvious ways that solar energy saves you money is by reducing or eliminating your electric bill. As you know, your electric company charges you based on the amount of electricity you use from their lines. When you add solar panels to your home, you reduce the electricity you need from your provider. Over time, the savings can cover the cost of installing the panels on your home.
In many cases, people have the ability to produce more energy than they need. There are two primary ways to handle this excess electricity. One is to store it in battery backups on your property for later use. The other is called net metering. Net metering is when you feed your excess power back into the grid. You can receive credits toward future electric bills depending on how much extra you produce and your electric company’s policies. Due to the abundance of sunshine in Florida, with enough solar panels, you could cover the entire cost of your bill with the credits earned. However, you should contact your utility provider for their net metering policies. Not all companies provide this opportunity.
A properly designed system will meet your current electrical usage, meaning the only electric cost to you is the connection to your local utility company. All energy generated more than the amount used in any given month is “banked” and can be used in future months when you may require more electricity, such as running your air conditioning in July and August.
Tax Credits and Incentive Programs
Alongside the push for clean and renewable energy sources are tax credits and incentive programs that help you save money with solar on your home. Florida offers a 100% property tax exemption on the value solar adds to your residential home, preventing increased taxes because of solar. The total cost of putting solar on your home is also eligible for a 30% personal income tax credit in the year you install your solar system. The credit also applies to battery storage systems. All you have to do is file an additional form with your return to receive the credit. Depending on where you live, there may also be local incentives that will help you save money when adding solar to your home.
At Stilwell Solar, we can help you determine the right amount of solar for your home and help navigate your potential solar savings. Our solar experts will also help you with any maintenance your system needs. If you want to add solar to your home, contact us online or call (239) 495-5988 for a free consultation.