The everyday value of residential photo voltaic panels in Florida, earlier than the federal photo voltaic tax credit score, was $33,673 within the second half of 2023. That is decrease than the nationwide common of $34,122. The typical system measurement is 14.3 kWs, in comparison with the nationwide common of 11.6 kWs.
Florida’s primarily humid subtropical local weather requires lots of vitality for air-con. Putting in bigger techniques is sensible in a state that has one-to-one internet metering, which permits clients to offset extra of their vitality payments with photo voltaic. The state’s internet metering insurance policies and ample year-round sunshine have fueled sturdy adoption of residential photo voltaic. Florida has few state tax rebates and photo voltaic incentives in comparison with different states, however clients there should qualify for the federal tax credit score[0]
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Photo voltaic prices in Florida at a look
Typical value of house photo voltaic system earlier than federal photo voltaic tax credit score
Typical value of house photo voltaic system after federal photo voltaic tax credit score
Supply: EnergySage, a photo voltaic and residential vitality product comparability market based in 2012. Knowledge is from the second half of 2023.
Prices and tendencies in Florida
Photo voltaic has been having a second in Florida, a part of a normal upward pattern in curiosity and installations.
“Florida is ranked third nationally in photo voltaic progress, and it’s persevering with to develop in recognition,” mentioned Wendy Parker, govt director of the Florida Photo voltaic Power Industries Affiliation (FLASEIA), in an e mail[0]. “A lot of the state nonetheless has internet metering, which makes it very favorable to owners.”
System sizes are excessive in Florida in comparison with different states, at 14.3 kW on common within the second half of 2023. A contributing issue is the falling value of photo voltaic installations, which went from $2.45 per watt in Florida in early 2023 to $2.35 per watt within the second half of 2023.
System measurement can be usually tied to common month-to-month vitality consumption, which is relatively excessive at 883kWh monthly in Florida.
“Up to now yr, costs have been trending down, and levelizing some. Sure tools has come down in value, and further competitors in Florida has pushed prices down from some firms. We’ll must see what the tariffs do, probably driving costs again up,” says Dan Massaad, CEO of Guardian House, an energy-efficient house providers and photo voltaic set up enterprise in Florida.
Florida established statewide renewable vitality objectives in 2022 however repealed them in Could 2024[0],[0]. Laws and incentives could differ with the longer term priorities of recent political administrations.
Tax incentives and rebates in Florida
Internet metering. Florida adopted internet metering in 2008, in addition to tips to permit residential photo voltaic to interconnect with utility grids. Internet metering permits owners to promote extra electrical energy to the native utility.
Property tax breaks. Florida has a property tax incentive for renewable applied sciences. It ignores the enhance in property worth as a result of set up of photo voltaic panels. This financial savings can add up over time[0].
Tax credit. Florida doesn’t provide state and native rebates or incentives on rooftop photo voltaic panels. Nonetheless, clients could qualify for the federal tax credit score.
Low-cost loans. Some cities provide photo voltaic mortgage packages. As an example, the Metropolis of Tallahassee Utilities provided a 5% mortgage with a 10-year time period for photo voltaic panel installations, with a most mortgage quantity of $20,000[0].
Associated tools rebates. Suppliers just like the Fort Pierce Utilities Authority additionally provide flat rebates on photo voltaic water heaters. When you intend to incorporate a photo voltaic water heater along with a photo voltaic panel system, test for such a incentive in your space[0].
“Florida is a internet metering pleasant state,” Massaad says. “Loads of the massive utility firms provide you with a real 1-to-1 credit score on no matter you overproduce, so it makes lots of sense for a lot of shoppers to go photo voltaic.”
Power storage in Florida
Floridians usually use the grid as their backup, however curiosity in battery storage is on the rise.
“In Florida, the battery storage is commonly for shoppers who’re extra involved with energy outages, like with hurricanes, and people shoppers have some management to both function a room or a number of circuits, or a complete house backup,” Massaad says.
The typical value of battery backup was $16,887 in Florida in June 2024 earlier than the federal tax credit score. Nonetheless, a small battery for key circuits in a single a part of the home could value much less and may also help cool one a part of a house throughout excessive warmth or maintain vital medical tools operating throughout an influence outage.
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