Residential Solar Panels: Why They Should Be a Part of Your Next Home Renovation

At present, there are more than 2 million solar panels installed across the USA. If you are currently staying in Kissimmee, you are probably using Kissimmee Utility Authority (KUA) as your utility. Homes in Florida use more electricity than other states which makes residential solar penal in Kissimmee a great investment. The most significant advantage to install solar panels here is the 30% federal tax credit. Thus investing in solar panels is the best way to maximize your savings potential in Kissimmee.

Residence of Kissimmee can also leverage a PACE loan to pay for their solar panel. We will discuss that further in this blog.

Solar incentives in Florida

·         Solar tax credit 

·         Net metering

·         Property assessed clean energy

What is a 30% federal tax credit?

The federal tax credit is the most significant incentive for installing solar panels. At present, the federal tax credit is equal to 30% of the total cost of installation of the residential solar system. The amount of tax credit is deducted from your federal taxes and you can claim it for several years in case the amount you owe as tax is less than the amount of your credit. You can also avail the advantage of federal tax credit with federal income taxes. Furthermore, at the end of the year 2032, the amount of tax credit will fall to 26%. Thus, there is no rush to avail of the maximum credit value. However, you shouldn’t wait to invest in residential solar panels in Kissimmee.

Want is Florida net metering?

It is a solar incentive offered by the state of Florida. It allows you to sell your surplus electricity to the electricity grid at full retail cost. With the sun of Florida, you are likely to produce more energy than your need. Thus the excess power will be exported to the grid.

What is PACE financing?

It is similar to a loan however it is paid through a property tax increase to the local government. In case you plan to move from Florida, the balance of the load will be passed to the next property owner.

How much will residential solar panels save you?

Just like the electricity consumption of every home is different, the amount solar panel can save you depend on your electricity usage. Thus, the higher you use the greater you save with the solar panel. When we talk about the average electricity usage in Florida, it is about 1,123 kWh per month. But you may use more than that as the average also includes small apartments as well as condos.

Are solar panels worth investment?

The cost of solar panels has fallen more than 80% in the last decade. In 2022, they also subsidized by a 30% federal tax credit. Also, the net metering law has made them an excellent investment. They can offer you more return from the share market as well as property investment.

With this, we are ending this blog here. If you have any queries related to residential solar panels in Kissimmee, feel free to get in touch with the experts.