One would think we would be the solar capital of the country, yet we were ranked #12 in the country and aren’t even scratching the surface when it comes to our potential. With that being said, one question remains. “Why not?”
Solar… Why Not? Florida. The Sunshine State.
When we first speak with clients about solar, most are simply unaware of how the Florida rebate works. So we’re going to help with a few of the largest misconceptions.
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- How does the Investment Tax Credit (ITC) work? With the ITC, the state of Florida provides a 30% rebate on your solar installation cost. This rebate comes in the form of a check, or it can be rolled into your current solar payment.
- How is the tax credit calculated? Currently, the ITC is 30% of the gross system cost of your solar project. The gross system cost includes any improvements needed to facilitate the installation of a solar system (such as electrical work, roof work, etc.). For example, According to EnergySage, a typical-sized solar panel system of 5 kW would cost you about $16,250 in Florida. With the 30% tax credit, that drops all the way down to $11,375.
- Does this apply to new construction only? No. This credit applies to your current home as well as new construction. The solar companies actually WANT solar on built homes.
- If solar is free, why are we making payments? Monthly payments are made on the solar system itself, the panels, and the system necessary for your home to change from electric to solar.
- What is the cost of a typical solar panel system? According to EnergySage, The current price range for a 5 kilowatt (kW) solar panel system in Florida is between $8,505 – $11,305, far below the national cost of solar panels at $12,500. The average solar panel system size in the U.S. is 5 kW, so to get a range for typical Florida prices we examined data for 5 kW systems after tax rebates.
We’re only scratching the surface on the benefits of solar but wanted to give you a little information. If you have additional questions on solar, or for your FREE initial consultation, email jason@stfdd.com or call 941.342.9401.
