Why Go Solar?
With electricity costs on the rise, there's never been a smarter time for you to make the switch to solar. Take a look below for the top 8 reasons why you should go solar!
You'll Save A Bunch Of Money
No matter which way you cut it, solar saves you a bunch of money over the warrantied life of your system. The exact amount depends on your energy usage and on the available space on your roof, however, solar may cover your entire electricity bill. You have the ability to install a solar panel system that will save you money and change your energy bill as you know it.
Your Energy Will Cost Up to 50% Less
It’s much cheaper for you to generate power with solar than to buy it from the energy company. When you divide the net cost of your solar system by the total amount of energy your system will generate over the next 25 years, your Levelized Cost of Electricity (LCOE) will be about $0.06/kWh. Compare this to the $0.12/kWh that FPL is charging their customers and the savings are as clear as day. You can literally generate your own energy at half of today’s costs.
You'll Avoid Future Price Increases
Not only is it cheaper for you to generate electricity from solar, but you also get to avoid future price increases on the portion of your bill that has been offset by your solar system. When you go solar, your price is fixed and won't be effected by any future price increases from the energy company. Electric rates have increased in price by a national average of 4-5% annually for the past few decades. We think it's fair to assume that the trend will continue into the future - especially considering the Feds have been raising rates, the US has been stirring up trade wars and Florida has approved additional rate increases recently to cover hurricane damage.
You'll Be Turning An Expense Into An Asset
Going solar is an incredible way to build your wealth. You are literally turning an expense into an asset just like you did when you bought your home. Without solar, each monthly payment you make to your energy company is an expense - money you'll never get back. With solar, once the system is installed you will have an additional asset you own on your roof. Every payment you make toward your solar system will reduce the loan and you'll start building additional equity. It's truly incredible. You are actually turning an expense into an asset and monthly payments are like residual investments into your future.
You'll Increase Your Property Value
What's worth more - a house with a $250 electric bill or the same exact house with a $50 electric bill because of solar? Exactly! That's why various studies have concluded that installing solar panels on your home significantly adds value to your property. Not only will you see a sizable increase in your property value, but also, on average, houses with solar panels installed will sell twice as fast as compared to other houses without solar panels.
You'll Get Back Up To A 30% Tax Credit
The federal solar tax credit, also known as the Investment Tax Credit (ITC), allows you to deduct 30% of the cost of installing a solar energy system from your federal taxes - dollar for dollar. The ITC applies to both residential and commercial systems, and there is no cap on its value. However, you'll need to act soon as these tax credits are set to reduce each year and ultimately expire.
You'll Lock In A Net Metering Agreement
In Florida, net metering rules were adopted in 2008. Net metering allows utility customers who connect approved, renewable energy generation systems – such as solar panels – to the electric grid to sell electricity back to the utility company. That means when you generate more electricity than you are using, you will start making money or can use the credits to apply against any electric bill you may have in the future. Essentially, net metering is like a free battery that allows you to save your excess energy for future use. This is an incredible deal when you consider that the average cost for a residential solar system battery setup can cost between $25,000-$45,000.
You'll Help Save The Environment
Your carbon footprint will be greatly reduced by generating your own alternative energy right from the roof of your solar home. The average sized solar system installed reduces approximately 21,500 lbs of C02 emissions each year. That’s like preventing 10,500 lbs of coal from being burned! The earth will thank you.