Whether you are interested in solar power for environmental reasons or are looking for a great long-term investment, here’s why solar homes are gaining popularity.
1. Tax Incentives
One of the greatest perks of investing in solar is the solar federal Investment Tax Credit (ITC), which equals 26% of the solar system’s retail cost (through 2022). That means that if your solar system retails for $20,000, the federal government will issue you a tax credit of $5,200, making the actual cost of your solar system $14,800.
Also, unlike a new deck, outdoor patio, or shed, which would result in a new appraisal, increasing your property tax, a solar system is excluded from your property’s taxable value— even though it adds value to your home.
2. Environmental Benefits
In the fight against climate change, many homeowners are starting to weigh the pros and cons of solar. A major plus is that solar power is clean energy. When it makes financial sense, doing your part to help the environment is a no-brainer.
Solar systems do not produce any air pollution or greenhouse gases. Although some emissions are generated when manufacturing solar systems, emissions are 3-25 times less than the same amount of energy from burning fossil fuels.
Even better? Excess energy produced by your solar home can be used to charge the battery of an electric vehicle.
3. Backup During Power Outages
Florida has the longest outages in the country, with an average of 14.6 hours of electrical downtime per customer each year. Major events, including hurricanes, contribute to high rates, causing an average of 2.2 outages in Florida annually, making the state tied for fourth for frequency.
When you opt for solar with battery back-up or solar generator, you are more self sufficient. The energy produced by your solar system and stored in your home’s battery backup can be used to power various essential loads when the grid is down.Having this type of system will bring you peace of mind during these likely Florida events.
4. Financial Savings
The cost of electricity is rising. That is why many are investing in solar. And although a solar system is a large upfront investment, Florida homeowners immediately enjoy the savings in the form of a significantly reduced monthly electric bills.
Florida’s net-metering programs allow homeowners to feed excess electricity back into the power grid to receive utility credits. These credits help pay for the energy a home uses when panels aren’t producing, such as in the evenings. If you produce more power than you consume, you could even turn a profit, reducing your solar payback period. In Florida, the average payback period is 10.72 years.
Florida Power & Light and Duke Energy have the largest net-metering programs in Florida.
LifeStyle Homes Can Help
Interested in building a solar home? If so, LifeStyle Homes can help you build the house of your dreams — one that is sustainably powered by clean energy.
Contact us to learn more today!