Florida‘s plentiful sunshine and high electricity rates make going solar an obvious win for many households. As solar technology advances and costs fall, adoption is accelerating across the Sunshine State. This guide offers an in-depth look at what to expect from buying solar panels in Florida today and where trends are headed in the future.
Over the past decade, Florida has established itself as a national leader in solar energy. The state now ranks second in the country for total installed solar capacity at over 12,500 megawatts (MW), enough to power nearly 2 million homes. Strong solar resources, declining equipment prices and supportive policies continue to spur adoption.
The Costs of Going Solar in Florida
Installing a solar panel system in Florida costs around $2.58 per watt on average, which works out to $15,480 for a typical 6 kilowatt (kW) residential system before tax credits or other incentives. However, costs can range from $12,000 up to $24,000 or more depending on your specific home‘s needs and other factors outlined below.
Equipment makes up the bulk of costs for most solar installations. However, labor and permitting costs can also vary significantly depending on roof complexity, city requirements and other market conditions.
Below is a detailed overview of average Florida solar panel system pricing broken down across these main components:
| System Size | Equipment | Installation | Total Cost |
|---|---|---|---|
| 4 kW | $9,600 | $4,000 | $13,600 |
| 6 kW | $12,000 | $5,000 | $17,000 |
| 8 kW | $16,000 | $6,500 | $22,500 |
Costs Scale Down with Size: While larger solar arrays come out to less on a per-watt basis, tailor your system size to match your electricity usage needs. Oversizing can waste money without providing meaningful added returns.
Premium Panels Cost More: Opting for high-efficiency monocrystalline PERC panels from reputable brands like SunPower or LG can impact costs, but also enhances long-term power production.
Complex Installs Add Expense: Upgrading electrical panels, extensive rewiring or customized mounting systems can significantly increase installation labor requirements for some homes.
Plan for $100 to $250 in annual maintenance costs for system monitoring, cleaning panels, and the possibility of inverter replacement every 10-15 years. New equipment warranties and steadily improving reliability help minimize long-term upkeep costs though.
Electric Bill Savings from Florida Solar
Generating your own solar electricity offsets power that would otherwise be purchased from your utility provider. With Florida‘s average residential rate of $0.142 per kWh, net metering yields substantial savings for solar owners replacing grid energy usage.
The payback period to recoup your initial investment from those utility bill savings runs approximately 7-10 years for most Florida solar panel systems. Systems are warrantied to keep producing beneficial power at strong levels for a total lifespan of 25 years or more.
Let‘s examine the bill savings potential based on system size:
| System Size | Annual Production1 | Annual Savings |
|---|---|---|
| 4 kW | 6,200 kWh | $880 |
| 6 kW | 9,300 kWh | $1,320 |
| 8 kW | 12,400 kWh | $1,760 |
1 Assuming 5 sun hours per day on averaged sized systems.
In total,cumulative 25+ year electricity bill savings between $30,000 to $50,000 are achievable for most Florida homeowners transitioning from traditional utility power to solar.
And as utility electricity rates rise 3-5% yearly over the decades ahead, your solar panels lock in lower priced power helping avoid those rate hikes. Investing in solar now pays escalating dividends over time.
Incentives Bringing Down the Cost of Florida Solar
While historically Florida has lacked strong statewide solar policy incentives comparable to some other leading states, new programs continue emerging aimed at accelerating adoption.
Here are the top savings opportunities currently available to Florida solar buyers:
-
26% Federal Solar Tax Credit – The ITC drops the net cost by up to one-fourth through 2032. This applies to both owned and financed solar panel systems.
-
100% Property Tax Exemption – Florida exempts the added property value solar installs create from being taxed, saving homeowners hundreds of dollars annually.
-
Net Metering – Utilities give you credits for excess power sent to the grid, helping balance production and usage.
-
SRECs – Florida‘s solar renewable energy credit market lets you earn extra income selling SRECs generated to local utilities.
When layered together, purchasers in 2023 stand to save over 40% off their total solar panel system costs after leveraging tax credits and future utility bill savings. Payback timelines faster than 5 years are attainable in Florida‘s sunny climate.
Key Considerations for Florida Home Solar Projects
-
With hurricane risks in Florida, have your installer complete a full site assessment and use equipment rated for 140+ MPH windspeeds. Elevated, adjustable tilt mounting helps.
-
Find installers with 5+ years experience, licensing through the Florida Solar Energy Industries Association (FLASEIA), Master Electrician credentials, and strong customer reviews.
-
Adding solar battery backups now allows using your panels to power essentials if the grid goes down while expanding savings. Enphase, Tesla Powerwall and Generac PWRcell systems pair well.
-
Leveraging Florida‘s new SolarAPP+ platform simplifies connecting approved solar systems to utility grids, avoiding paperwork hassles.
Choose equipment packages and mounting solutions durable enough to handle Florida‘s heat, humidity and storms. Working with the right installer also brings peace of mind that your investment will perform reliably for decades.
The Future of Solar Power in Florida
Favorable conditions for expansion have positioned Florida as a national leader in installed solar capacity. The state is on pace to hit over 18,000 MW total by 2026.
Driving this robust growth includes:
-
Ongoing solar panel efficiency improvements, expanding how much power systems can squeeze from Florida‘s plentiful sunlight
-
Emerging panels capable of handling high temperatures better suited for Florida‘s climate
-
New community solar programs opening access for renters and properties difficult to directly install on
-
Bipartisan political support through legislation like the Solar Choice Amendment passing which requires utilities to expand renewable energy over this decade
-
Major investments pouring in from large energy providers like FPL, Duke Energy Florida and Tampa Electric building out utility-scale solar farms
-
Public favorability towards renewable solar energy exceeding 80% across the state
Falling equipment prices, better technology and supportive policies ensure solar energy keeps achieving impressive growth in Florida for years to come.
Now is an opportune time for homeowners to explore whether converting fully or partially to solar power makes sense to leverage the full savings and self-reliance potential available. Reach out to local solar experts for help evaluating your particular home‘s options.
