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How Much Money Can Solar Save you in Florida in 2024?

Florida homeowners have many advantages, from an abundance of sunshine to lower install costs.

Megan McDonough
Head of Content
How Much Money Can Solar Save you in Florida in 2024?
Jun 28, 2024
5 min read

There are so many benefits to running your home on solar, from eliminating a monthly utility bill to saving the planet. Florida homeowners have the added perk of year-round sunny weather and lower installation costs compared to most U.S. states. 

Why Solar is a Smart Choice for Florida Homeowners

If you’re considering solar for your home in Florida, now is the perfect time to make the switch. As one of the country’s sunniest states, Florida homeowners have great energy potential and can count on their solar systems to last upwards of 25 years. 

Here are five of the biggest reasons to say ‘yes’ to solar. 

How Much Money Can Solar Save you in Florida

1. Solar gives you immunity against rising electricity rates 

It’s no secret that utility rates are increasing across the country. According to the U.S. Energy Information Administration (EIA), the average U.S. residential electricity price rose from 6.2%, from 15.04 cents per kilowatt-hour (kWh) in 2022 to 15.98 cents/kWh in 2023. Based on the past decade, homeowners are likely to see further increases in the coming years. 

Switching to solar energy means that you won’t have to worry about increasing utility rates because all or most of your electricity will come directly from your home solar system. Solar equipment is designed to be durable and withstand all sorts of weather conditions, and in most cases solar panels last up to 25 years–sometimes, more. 

Why Solar is a Smart Choice for Florida Homeowners

2. Federal and state incentives lower the total cost 

Florida homeowners are able to take advantage of several federal and state wide incentives for going solar. On a federal level, homeowners can receive a 30% tax credit on their installed PV systems. 

Other incentives for Florida homeowners include:

  • Property Tax Exclusion: Florida homeowners who install a solar system will not be taxed on the increase in value of their home.
  • Net Energy Metering (NEM) program: Homeowners can sell excess energy that is produced from their solar system to the local grid and earn credits in return.
  • Sales Tax Exemption: There is a 6% home solar power system state sales tax exemption for residents who invest in solar for their homes.

Florida is one of three states—California and Missouri being the other two—that give homeowners access to the state’s Property Assessed Clean Energy (PACE) loan program. In simple terms, this program allows homeowners in these three states to finance their solar installations and pay them back with their annual property taxes. 

solar federal and state incentives in Florida

3. Year-round sunny weather means high efficiency 

While you don’t have to have year-round sunny weather for solar to make sense, it certainly helps. In truth, solar panels can still run at high efficiency regardless of the weather. The most important thing is that it has at least a few hours of strong sunlight every day. Solar panels can even generate electricity in cloudy weather. 

In any case, you won’t have to worry too much about rain and clouds in Florida. Known as the ‘Sunshine State,’ Florida averages 230-250 sunny days per year. Next to Arizona, it’s the sunniest state in the country. Most homes receive about 5.5 peak hours of sunshine each day, more than enough to fully power their homes. 

Florida's sunny weather is great for solar panel efficiency

4. Net metering allows you to save year over year

If you’re new to net metering, think of it simply as a type of billing tool that allows homeowners to sell the excess energy their solar systems produce to their local utility company. In return, they receive credits that they can use later on–for example, to power their homes during a blackout or during the night. 

Florida has a net metering program, which means that homeowners can earn some cash at the end of each year, in addition to eliminating their electric bills by running on solar. For those who invest in one or more solar batteries, they can store their excess energy directly in the batteries themselves, and then use their storage whenever needed. 

Net metering allows homeowners to save year over year

5. Solar increases the value of your home

Even if you never plan on selling your home, you should know that just by going solar, you’ve increased its value. Studies show that homes with existing solar systems are an average of 4.1% more valuable than those without. When you consider that fFlorida is an in-demand state to live in, that small percent translates to thousands of dollars. 

Aside from benefiting the environment, homes with solar panels look sleeker and more modern. Every year, there are more add-ons that enhance the aesthetic appearance of solar panels. For example, attic runs minimize the appearance of unsightly electrical conduit on your roof and solar skirts elevate the look of your solar design. 

Solar panels increase the value of your home

How much can solar save you in Florida in 2024?

Deciding to switch to solar is a great investment for Florida homeowners. On average, we save homeowners up to 50% off the total price of going solar compared to other companies. This yields an ROI in as little as 5 years.

Below is a graph that shows what the average initial investment is for homeowners who choose Monalee vs. choosing a traditional solar company in their area. 

Aside from our patent-pending technology that can generate interactive solar panel roof proposals in ten seconds or less, we remove salespeople from the process completely. The more soft costs we remove, the more money our homeowners save. 

How much can solar save you in Florida in 2024?

In Conclusion

Like any big investment, you’re in it for the long haul. Switching to solar energy gives you immediate savings in the form of your monthly electricity bill and makes you immune to electricity rate increases. Leveraging federal and statewide incentives work to further lower the initial upfront costs. Going with Monalee is significantly more affordable than other solar companies and uses top-tier solar equipment on every installation.

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