Solar power in Fort Lauderdale, Florida
FPL provide 1 for 1 net metering to their Fort Lauderdale customers.
Under the federal ITC, a fixed percentage of the project costs (26% in 2020, and 22% in 2021) can be claimed as a deduction to your federal taxes. This incentive can also be used in parts over several years to better suit anyone's financial situation.
With great sunshine and incentives, solar is an excellent investment. If you still aren't quite sure a free estimate by enetering your zip code below can never hurt.
Net Metering Broken Down
Each kWh of unused solar generation is sent to the grid in exchange for a kWh off of your bill. If more energy is exported than drawn within a month credit is given to future bills still at retail value. At the end of the yearly billing cycle, remaining credit is deposited into your account at the avoided cost rate.
The average cost of installing residential solar panels in Fort Lauderdale,
Florida in 2020 is
$2.65 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Fort Lauderdale, FL
is $13,250.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Florida is only 1081kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Fort Lauderdale solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Florida solar savings calculator can do this because it contains a database of the electric rates charged by Florida Power & Light (FPL), Lee County Electric Coop Inc
How much can solar panels save you in Fort Lauderdale
Fort Lauderdale PACE Program
Florida's PACE financing program is available in Broward County.
PACE is essentially a lease or PPA however, is paid through a slight increase in property taxes.
The Florida PACE program is great for those looking to only stay a few years in their current home since you receive the benefits of net metering, but if you move house the new owners will continue paying.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Fort Lauderdale to find out:
- How many solar panels you need to cover your power bill;
- How suitable your house is for solar;
- What incentives your house may be eligible for;
- The cost of solar panel installation in Fort Lauderdale and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Find out what rebates and incentives you can get in Fort Lauderdale
What does the cost of a real solar system look like?
Facts about installing a 15.9kW solar system in Fort Lauderdale, FL
This system would offset 100% of your energy usage if your typical monthly bill is $243, however your situation may vary so try our Fort Lauderdale solar calculator to get a result tailored to you.
$28,827
Net cost of system
8 Years 4 Months
Average payback time
22,090 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
24¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 15.9kW system
Life-time savings on this system over the next 25 years
$88,056
(Prices shown after repayments of capital)
59
Solar companies in Fort Lauderdale, FL that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Fort Lauderdale
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,216 | $6,713 |
| 4kw | $8,140 | $8,791 |
| 5kw | $9,990 | $10,789 |
| 6kw | $11,766 | $12,707 |
| 7kw | $13,468 | $14,545 |
| 8kw | $15,096 | $16,304 |
| 9kw | $16,650 | $17,982 |
| 10kw | $18,130 | $19,580 |
Find out what system size you need for your home
Going solar in Florida
Check out all of the ways energy providers of Florida can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Solar and CHP Sales Tax Exemption | State | Sales Tax Incentive |
| Property Tax Abatement for Renewable Energy Property | State | Property Tax Incentive |
| PACE Loans | State | Loan Program |
| SELF Loans | State | Loan Program |
| Net Metering | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
