For the past few years, Floridians have been asking themselves if their state is a good place for home or business solar energy.
The answer to this question has been hazy in the past but steady winds of change have separated the clouds, shedding a positive light on this subject as more and more Floridians have made the switch to solar. Although there are relatively few rebates in Florida, there are still some compelling reasons to consider home or business solar panel generation systems as many others have. One major reason why going solar is a great option in Florida has to do with the amount of sunlight hours this state gets. They don't call Florida the sunshine state for anything, do they? More sunlight means huge savings in the overall cost for solar. The more sunlight you get, the less solar panels you’ll need to produce the same amount of energy. A home of similar energy demand in a state which gets less sunlight such as Washington or Maine would require more panels. In some cases, this is why certain states get more incentives than others.
One incentive you can still take advantage of is The Investment Tax Credit (ITC) which is currently a 30 percent federal tax credit claimed against the tax liability of residential (Section 25D) and commercial and utility (Section 48) investors in solar energy property. Essentially what this equates to is a dollar-for-dollar reduction in the income taxes that a person or company claiming the credit would otherwise pay the federal government. The ITC is based on the amount of investment in solar property. Both the residential and commercial ITC is equal to 30 percent of the basis that is invested in eligible property which has commenced construction through 2019. The ITC then steps down to 26 percent in 2020 and 22 percent in 2021. After 2021, the residential credit will drop to zero while the commercial and utility credit will drop to a permanent 10 percent.
Something else to consider for those mulling around the idea of going solar is net metering. Net Metering is not available in all states but is very beneficial to solar panel owners. Luckily, this is available for Florida residents. Net metering is a system in which solar panels or other renewable energy generators are connected to a public-utility power grid and surplus power is transferred onto the grid, allowing customers to offset the cost of power drawn from the utility. This means if you’re producing more solar energy than you’re using, you can pull electricity from the utility grid and pay less for that energy just as long as it evens out.
People who are really serious about going solar all ask themselves the same question which is, “Would solar energy be a viable financial option for me and what kind of lasting quality could I get for my investment in solar?” The answer to this question is easy. First, you’ll need to get a quote from a solar company with a solid reputation who can offer you a free quote. From here you’ll be able to learn what your solar pricing will look like and what types of solar panels and other solar components they offer. Another thing to consider is if they are American-made and from a reputable company such as SolarWorld who has been in business for over 40 years and offers a 25-year warranty on their panels. Information like this can give you exactly what you need to make a great decision.
Writer: Eddy Martinez