If you’re struggling with soaring electrical bills, you might be wondering if it’s time to add solar panels to your home. Residential solar power is becoming popular nationwide as more homeowners explore this cost-effective, renewable energy source. Sunny Florida is the perfect location to benefit from solar power. SEM Power can determine if your home is a good candidate for going solar with a few simple questions. Is residential solar power worth it for your family? Learn what will make your home successful and start to explore your options.
What Are Solar Panels? How Do They Work?
Home solar panels convert light into useful electrical energy which can be used to power a house or appliance. For most homes, a solar array is placed on the roof that generates electricity from the sun and help reduce your monthly spending on electricity. Although the weather doesn’t always have to be 100% sunny for the solar panels to work, they will produce more energy under optimal light conditions. Florida averages 237 sunny days per year, compared to the nationwide average of 205.
Solar cells collects energy and convert it into electrical energy through the sunlight. A surplus amount of electricity from your solar panel will then be sent to the power meters on your grid to help offset their electricity bill.
Solar Power For The Home: Costs
The main cost is upfront when purchasing the systems. The solar panels will probably represent a major part of the overall cost. Other installation equipment includes an inverter (to turn the current produced by the panel into the alternating current used by domestic appliances). The installation labor cost also must be factored in.Some homeowners may also consider batteries storage if utilities pay their excess electricity from their own grid. This information is usually found on government or solar advocacy websites.
The average cost to homeowner based on an average 10kW system is $28,500 in 2021 before taking Federal incentives into account. In Florida, the average 10kW solar system cost before tax credit was $26,100, which dropped to $13,314 after the tax credit.
Solar Power For The Home: Benefits
The addition of solar energy on Florida residential properties offers many economic and environmental benefits. Let’s take a good look at the benefits available through solar panel installations.
A significant benefit to the solar panels installed is the lower yearly energy bills however the magnitude of this benefit depends on the amount of solar energy produced. The National Renewable Energy Laboratory produced a report in February 2021 that found that over the last decade, solar panel system installation costs have dropped due to increased efficiencies in solar PV panels and a decline in hardware and inverter costs.
The second consideration relates to the timing of solar production and how utility prices charge for electricity. Solar power generation occurs mostly during the afternoon and is higher in summer thus corresponding fairly well for total electrical demand in heat environments because it is at these times that air conditioning consumption is the highest.
Residential Solar Power — Questions To Consider
How Much Are You Paying For Electricity?
Rooftop panels generate electricity which can help reduce your monthly electric bill. Some homes completely eliminate their electrical bills after installing a solar array.
The U.S. Energy Information Administration reports that the national average electric rate is around 13 cents per kilowatt-hour in 2021 You might pay more or less than this depending on your utility contract. Your family’s usage also impacts your bill. If you have regular high utility bills, your electricity savings may offset your installation cost in just a few years.
What Percentage Of Your Home Can You Power With Solar Electricity?
Solar panels can theoretically offset all of your energy use if installed correctly but it’s unrealistic to expect this amount of production per day of the week. Manufacturers and installers usually prefer to allow homeowners to factor in a cushion of 25 percent during calculation of their target for solar offset. Net metering allows you to get advantage of surplus output days to offset your power bill.
Will Your Solar Panels Be Connected To The Grid?
Net metering is a system whereby solar companies pay you for a solar installation that supplies excessive power without using its system. During times when the panels do not produce enough power, you can use these credits for the cost of electricity that you use. If you go off of the grid, you will need extra battery power, energy storage and backup electric power. This means that for building an absolutely off-grid project, you will also need energy storage capacity, extra large solar panels, and backup power.
How Much Sun Does Your Home Get?
Your home needs steady sun exposure to make the most of a solar system. Florida is known for its beautiful sunny weather, but it’s still important to look at your specific situation. Your home’s orientation, roof structure, and shaded hours all impact your panel installation. Homes that receive long sun exposure, without much shade, can generate the most power.
How Big Is Your Roof?
Large roofs provide more room to install panels. If your home has a large footprint with a sizable roof, you’ll have more space to go solar. Size isn’t the only consideration, either. Chimneys, skylights, vents, and other rooftop features can take up room and block panel installation. Houses with open roofs have plenty of room to add panels and start generating their own power.
Solar panels perform well on south-facing roofs with a slope from 15 to 40 degrees. A typical solar panel system can last between 25 and 30 years. Solar helps increase the value of a home for an average of four percent and allows you to accelerate the process of buying or selling it at a lower price based. Solar panel electricity is produced by solar radiation because it needs sunlight which is blocked by obstructed eaves or trees. Try our solar estimator to get a custom solar estimate and seconds and see how much you could to save using solar panels.
How Long Do You Plan To Stay In Your Home?
A home solar array will deliver benefits for years to come. You’ll enjoy reduced energy bills thanks to generating your own power. These monthly savings will add up over time, eventually paying for the installation costs.
But what if you plan to sell your home in the next few years? Luckily, you don’t need to worry about staying in your current house for a set amount of time to recoup your installation fees. Prospective homebuyers are willing to pay tens of thousands of dollars more for homes with solar panels.
What Incentives Are Available?
A new solar roof may qualify you for a range of government incentives. You can claim a portion of installation costs as a federal tax credit through 2024. Depending on where you live in Florida, solar projects may also be eligible for local property tax adjustments, reduced fees, or prioritized construction permits.
These incentive plans aren’t permanent. The federal tax credit is currently scheduled to expire in 2024. Local benefits may be phased out in the future as well. SEM Power can help you understand potential incentive programs to make the most of your installation project.
When Will Your Solar System Reach Its Break-Even Point?
The expected breakeven point vary across the United States but on average homeowners in the United States break even on their system cost within eight years. A typical homeowner broke through eight years with energy costs and maintenance. The solar panel repayment cycle is the time taken to offset the solar cost through reduced charges.
Get Started With Solar Energy
SEM Power’s solar panels are low profile, and have an elegant appearance. We feature industry-leading solar panels from Lumos, Silfab, and LG, as well as inverters and solar monitoring systems from SolarEdge and EnPhase.
Solar battery systems make solar-powered energy easily available in our homes. These are renewable energy sources with clean energy saving potential. Our design team will build an array from how many panels you need that will suit your individual and family needs and savings.
Get a Free Solar Installation Quote Today
The Bottom Line
In most places solar power has good financial potential. Even at rates that could be marginally more expensive than electricity purchased from utilities, homeowners may elect to install solar power so as reduce future potential fluctuations in energy prices. Some homeowner may simply prefer to look beyond the personal financial motivations and use solar for green living. Solar energy can be a long-term investment but it is important to remember this solar system is a longer-term investment says experts.
Once you’ve thought about the questions listed above, you can start to consider whether home solar power is right for you. Florida is perfectly suited for solar power thanks to our bright and sunny climate. Upgrading to solar panels can reduce or even eliminate your monthly electricity bills, plus qualify you for valuable tax credits and other incentives.
SEM Power is here to help you navigate the solar installation process. Contact us today to learn more about solar panels and see what options are right for your home!