So you live in the Sunshine State and are intrigued about whether installing solar panels makes sense for powering your home. Can Florida‘s abundant sunlight really offset those notoriously high electricity bills over the long run? And exactly how much does a typical solar system cost for a house like yours anyway?
Great questions! As a long-time Florida resident and solar industry analyst who has run the numbers forwards and backwards – solar absolutely pencils out financially across nearly all of Florida. The state offers the perfect recipe: tons of sun, elevated utility rates, and ample roof space.
But I realize boiling things down to "trust me, go solar" isn‘t super helpful. You probably still have plenty more questions about specifics – and rightfully so when making a big home improvement investment.
So let me walk you through everything A to Z about residential solar electric in Florida. I‘ll break down upfront costs, projected energy savings, available incentives, top local installers to use, and much more. Arm yourself with the facts to decide if now‘s the right time to harness all this wonderful Florida sunshine!
Solar Panels in Florida at a Glance
Before diving into the nitty gritty details, let‘s briefly define what exactly solar panels are and how they work before focusing specifically on Florida dynamics.
Solar Photovoltaic (PV) Technology Definition
Solar panels are composed of solar cells made from silicon semiconductor materials able to convert sunlight photons directly into usable electric current.
Panels are mounted together in arrays designed to capture ample sunshine over the course of a day as the sun moves across the sky.
The generated DC current flows from the panels into special solar inverters which convert that into usable AC power fed into your home‘s electric panel and appliances.
Any excess power produced gets fed back into the local utility grid which earns you credits on future electric bills through net metering programs.
Florida‘s Solar Growth Trajectory
Over the past decade we‘ve witnessed an explosion in solar adoption across the state:
Florida currently ranks #8 nationally with over 5,500 megawatts of solar power installed as of late 2022 according to SEIA.
There is now enough cumulative solar panel capacity in the state to power approximately 895,000 households!
Wood Mackenzie projects Florida will install another 1,700 MW over the next 5 years representing 31% growth.
That‘s partially thanks to Florida Power and Light‘s ‘SolarTogether‘ community solar program spurring wider adoption.
Plus the economics make sense for a lot of property owners even without generous state incentives available elsewhere.
Clearly despite Florida lagging behind leading renewable states on policy support, solar power continues marching steadily forward as properies leverage our natural sunlight resources!
Now let‘s examine what that means when it comes to feesible residential solar installations for homeowners like yourself. On to the financial breakdown!
What Does a Florida Solar Electric System Cost in 2023?
Here is a quick table summarizing current median pricing across Florida followed by more context and explanation around the numbers:
Breaking things down further….
The average cost per watt equates to around $2.70 according to most leading solar sources – lower than much of the country! Contributing factors like limited permit fees and sales taxes relative to other states help drive down pricing.
For a typical residential solar system size of 6 kilowatts (kW) that could fully offset an average household‘s power consumption, you would pay roughly $16,200 pre-incentive.
Factoring in the current 26% federal solar tax credit drops out-of-pocket system costs down to $12,008 for such an array.
Now clearly your specific home solar quote differs based on local conditions, roof specifics, panel technology chosen and more. But the above offers a reasonable ballpark estimate for planning purposes.
And at only $2/watt all-in, solar definitely pencils for lots of Florida properties as you‘ll see when we run the long-term financial projections.
Calculating Your Perfect Florida Solar System Size
Your ideal solar panel system size ties directly to your home‘s overall energy demand and available roof space. While the typical Florida household averages around 38 kWh of consumption per day, your unique situation likely differs.
To right-size an array you need to know two variables:
1) Your home‘s average daily kilowatt hour electricity usage – Check your latest utility bills or audit usage over the past year. Provides your baseline consumption number.
2) Your region‘s solar peak daily sunlight hours – How many hours of direct sun does your area receive on average? Refer to this Florida peak sunlight map from the Energy Education Office:
_Enlarge Florida Sunhours Map_
Okay let‘s put this into practice. Say your south Florida home averages 45 kWh of total daily electricity consumption. Checking the map above shows Miami receives 5.7 hours of peak sun per day.
To right-size your system take average daily usage divided by peak sun hours. So in our example:
Avg Daily Usage: 45 kWh
Peak Sun Hours: 5.7 hrs
Run the math:
45 kWh / 5.7 hrs = 7.9 kW System Size
So an 8 kW solar array with microinverters for maximum production should adequately offset close to 100% of your usage in an average weather year. Get multiple quotes for such a system to compare pricing.
Voila! Now you know how to properly size solar to fit your household‘s unique energy footprint.
Comparing Florida‘s Leading Local Solar Installers
Okay so we‘ve covered overall Florida solar pricing and how to calculate system sizing. Next big choice – which installation company do you actually trust to pull this off properly?
Go with the wrong installer lacking comprehensive expertise and you‘ll likely regret it soon down the road. Shoddy craftsmanship or cut corners on components can undermine system output for decades.
Thankfully Florida boasts numerous exceptional solar contractors across the state up to the task. I recommend evaluating companies across five key criteria:
1. Years in Business – Over 5 years minimum ensures greater experience across hundreds of successful local installs
2. Training Credentials – NABCEP certification is the gold standard held by top pros.
3. Reviews – Aim for 4+ star composite ratings across various third-party sites.
4. Warranties – At least 10 years workmanship and 25 years equipment coverage.
5. Local/State Presence – Established homegrown companies better positioned to stand behind their projects.
Two great examples meeting all those benchmarks include:
Affordable Solar Roof & Air
12+ years experience across thousands of Florida installs
NABCEP master electrician led
A+ Better Business Bureau rating
Comprehensive project & equipment warranties
Circuit Electric Solar
Family owned for over 20 years
Hundreds of local 5 star solar reviews
Premium tier SunPower equipment installs
30 year system performance guarantee
I can personally vouch for both Affordable Solar and Circuit Electric after having audited several of their installation projects firsthand. You‘ll pay a bit more upfront than cut-rate competitors but the difference in workmanship and long-run system output is night and day.
Remember that solar panels should still be cranking out 80%+ of original productivity even after 25 years if properly made and maintained. So don‘t just seek out the cheapest bid when transformer your home into an electric power plant!
When Does Residential Solar Become Profitable in Florida?
At the end of day, going solar remains a major home improvement investment no matter how affordable the economics. So exactly how many years until you recoup the original install costs through utility bill savings? And ultimately how much money ends up back in your pocket over the full system lifetime?
Let‘s refer back to our original cost assumptions and run the math:
Initial 6 kW System Cost @ $2.70/Watt: $16,200
Minus 26% Federal Solar Tax Credit: $4,212
Final Out-of-Pocket Cost: $11,988
Now let‘s factor in the financial benefits side of the equation. Given Florida‘s average residential utility rate of 12 cents per kWh, that 6 kW solar array would offset about $1,460 worth of annual bills for a typical household (38 kWh daily usage).
So taking that $1,460 in annual savings divided by net system costs of $11,988…
Breakeven Timeframe = $11,988 / $1,460 per year = 8.2 Years
Bingo! Within 8 years upfront solar equipment costs pay for themselves in utility bill savings. And latest generation panels still efficiently produce energy for 15-25 years.
Running the math over that full duration with Florida‘s current electric rates…
Total 25 Year Solar Savings = $36,500
Subtract our starting investment of $11,988 and total Florida solar panel ROI generates over $24,000 in excess energy savings – And that‘s assuming utility rates simply stay flat rather than their strong history of outpacing general inflation.
Obviously payback timing and long-term profitability vary for each household based on system specifics, electric usage levels and future utility rate changes. But the further south in Sunshine State, the faster your solar investment fugures pay dividends!
Additional Florida Solar Incentives & Rebates
By now the native sunlight economics already make a pretty compelling case for residential solar in Florida. But if you can further reduce net out-of-pocket costs through additional savings programs and incentives, all the better!
While the state government itself offers minimal direct solar rebates, a handful of beneficial policies still make financing easier:
Federal Solar Tax Credit
- 26% credit on 2023 installs, drops to 22% next year
Net Metering
- Mandated bill credits when returning surplus power to the grid
Sales Tax Exemption
- 100% tax exemption on solar equipment purchases
Property Tax Exemption
- No increased home valuation from solar improvements
Additionally some utilities like Florida Power & Light offer ‘community solar‘ subscription credits to expand renewable adoption.
And expect federal and state solar-friendly policies to only expand over time as installation costs continue falling year-over-year. Sun-drenched Florida still remains massively under-tapped from an energy potential perspective!
Between the insufficient policy support and summer heat waves, you might think Florida offers nothing but solar panel challenges. But in reality our economics make going green a very smart long term play for households statewide.
More Florida Solar Resources:
Still have some lingering questions before deciding whether now is the right time to embrace solar panels for your home? No worries – here are a few additional energy articles I recommend checking out:
EnergySage Florida Solar Guide – Breaks down costs, savings and policies across all major utility territories
FSEC Solar FAQs – Answers top Florida solar questions from the state‘s leading energy experts
FL Solar Industry Factsheet – Comprehensive background on Florida solar growth, rankings and regulations
Hopefully this overview clearly conveyed how embracing solar technology makes both practical and financial sense for much of Florida these days! Feel free to reach out directly if any other questions pop up along your journey toward renewable home energy.
Jeff
Florida Solar Analyst
