Complete Guide to Residential Solar Panels In Orlando (2021)
As a resident of Orlando, you already know why it’s called City Beautiful, but do you know what can make it even more beautiful? By installing solar panels in your house, you can save a lot of energy! Orlando, Florida, one of the sunniest cities in the United States (Hello Sunshine State!), is a leading candidate for a viable solar energy system. Before we get started, here are the Orlando Solar Report Cards:
Before we dive into the heart, one thing we want to say is that federal tax credits are available to homeowners who are currently installing solar panels in their homes. This solar tax credit provides an impressive 26% profit on all costs spent installing a solar system. That 26% has been updated for the next two years, but I’m not sure if it will be updated. This means you have limited time to take advantage of the unprecedented savings of solar panels!
Breakdown of Orlando Solar Benefits
Solar is an incredible renewable energy source and is undoubtedly better for the environment than traditional electricity. Still, most homeowners want to switch to solar because they spend a lot of money on electricity. Is to reduce to. Now let’s talk about the economics of solar energy for housing.
Cost of Solar Installation in Orlando
The great thing about Florida Solar is that it has some of the lowest solar prices in the United States. With an average installation cost of $ 2.69 per watt, it is the fourth cheapest state to install a solar system. Here is an infographic that categorizes the total cost of installing solar panels in Orlando:
The average solar panel size is about 5 kW (kW) or 5,000 watts and should cover the average home. Multiplying 5,000 by $ 2.69 per watt gives a very reasonable total of $ 13,450 for the entire installation. This is one of the deals you can get from various solar companies in Orlando. However, as mentioned at the beginning, you can significantly reduce these costs by applying for a federal tax credit for solar PV
Federal Tax Credit and Other Solar Incentives In Orlando
Now let’s talk about reducing that average $ 13,450 of PV costs. The best way is to use the federal discount on the PV system. This was extended for another two years.
Take that $ 13,450 and multiply it by 74% (100% -26%) to find the cost of switching to solar. And the answer is … $ 9,953. With a $ 3,500 tax credit, it’s a lot cheaper!
Property Tax Considerations
Besides this discount, there are other incentives to install solar panels in your home. First, despite the rising real estate value, property taxes on Florida homes (including Orlando) do not arise when you switch to solar power. This is excellent news, as the value of homes in Orlando, Florida, has been shown to increase by as much as 4% with the installation of solar panels. This is pure value without property tax increases-great!
Sales Tax “Loophole”
But there is one last incentive to make homeowners incredibly happy. As a solar customer, you don’t have to pay sales tax on your solar system. Yes, there is no sales tax! Typically, a $ 13,450 purchase in Orlando alone costs $ 807 sales tax (based on the standard Florida sales tax of 6%).
But it’s not the installation of solar panels! You get a $ 13,450 solar array, get a $ 3,497 tax credit, upgrade your home without increasing your property tax, and save $ 807 in sales tax. Pretty good! And it hasn’t even reached the real benefit of installing solar panels, the energy savings! Let’s dive into it.
Power Bill Reduction from Solar Energy
This section continues with the 5KW example. This is because it targets most average Orlando homes. All you have to do is calculate what you are paying for electricity (calculated in kWh or kWh) and then subtract the amount of energy generated by the solar panels!
According to the Orlando Utilities Commission, Orlando’s electricity bill is about ¢ 11.42 / kWh. Orlando’s 5kW plant is said to produce an average of 6,750kWh per year. 6750kWh x $ 0.1142 = $ 770.85.
Therefore, if you use solar power to adopt a 5kW system, you will generate 6,750-kilowatt-hours from solar power instead of paying the power company. This means that we reduce our electricity bill by an average of $ 770.85 each year. The following calculation determines how quickly you can repay your solar panels and start making pure solar profits. Simply take the estimated cost of installing a solar panel in Orlando after a solar energy tax credit ($ 10,491) and divide it by the annual savings ($ 770.85). $ 9,953 / $ 770.85 = 12.9 years. That may not seem like big savings, but let’s calculate how much you can save after 30 years of solar energy-this is the approximate lifespan of a home solar panel. Subtract the 12.9 years required to pay for your solar system from 30 years and multiply it by the annual electricity savings of $ 770.85. 3012.9 = 17. 1 year x $ 770.85 savings per year = $ 13,182 lifetime energy savings. Good! But there is still more in the equation.
We’ll talk about that in the next section.
So are Solar Panels In Orlando Worth It?
Before answering thoroughly, here’s a breakdown of the return on investment in Orlando’s residential solar panels.
Lifetime energy savings of over $ $ 13,000 are pretty significant! The biggest hurdle is to raise money for a solar array of about $ 10,000. Fortunately, there are many well-developed solar finance options. And … Orlando’s solar energy has other benefits as well.
Fend Off Increasing Energy Costs
Perhaps the most significant future benefit of Orlando’s solar arrays is that electricity prices will continue to rise. Over the last decade, the national average price per kWh (basically the metric used to track electricity prices each year) has risen by 15%. And we all know that this is unlikely to change as our natural resources become more and more stressed.
If the trend continues by 15% every ten years, electricity prices in Florida and other regions will rise by 50% in 30 years. In addition, electricity prices are prone to extreme fluctuations, putting further pressure on your budget, and can be difficult to predict. By switching to solar power, you can protect yourself from sudden fluctuations in electricity prices.
Increased Property Value
We alluded to this earlier, but transitioning to solar in Orlando has shown to increase property value by about 4% — if your home is now worth $250,000, that’s a $10,000 increase! That’s almost the cost of the entire solar power setup!
Renewable Energy is Better for Everyone
Whether you choose solar energy for moral or environmental reasons, solar-powered homes are far better for everyone involved than running a home dedicated to natural gas. I think you can agree that you are. Florida also has a net metering method that allows unused solar power to be fed back to a grid that can benefit the entire community (don’t worry, utilities charge per watt).
Freedom From Energy Companies and the Grid
One of the more philosophical reasons for moving to solar power is that you are primarily off-the-grid. You are unaffected by the whims of a local utility company, and if something happens to the grid itself, your home will be self-sufficient with solar panels.
Next Steps for Orlando Solar Customers
If you’re curious about how to install a solar panel system in your home in Orlando, Florida, there are many reputable solar companies in Orlando. These solar installers can help you seamlessly move to energy-efficient homes and save you a lot of electricity bills over the years to come.
Kiara Energy Solution is a resource that helps educate future solar customers (you), primarily inside and outside residential solar. Still, it connects customers with reputable and affordable local solar companies that have been thoroughly scrutinized. I can also do that.
Suppose you are interested in contacting a solar company that provides a complete quote for your PV system’s “solar panels”. As mentioned earlier, 2021 is a year to consider becoming a solar customer in Orlando. Energy prices are rising, 26% of tax credits are down for two years, and you live in Sunshine. Nowhere is better than Central Florida to harness the power of the sun. What are you looking for? Start the process of saving a lot on your monthly electricity bill. Get a solar panel quote, system sizing, incredible funding options, and excellent warranty options.