Cost of solar in Hollywood, FL
Electricity Consumption in Hollywood
Electricity Consumption by Florida residents averages 1081 kWh per month. It ranks #11 in the nation for savings from installing solar panels on the home.
Find local city information
Solar power in Hollywood, Florida
Florida Power & Light offers its customers net metering so that you can receive retail value for the unused power your solar system exports to the grid. Solar production numbers in Hollywood are among the highest in the country so during the day when most people are out of the house your solar system will be making you a lot of money. There is also the 30% federal solar tax credit covering 30% of the system costs in the form of a tax deduction. With net metering, excellent solar production and a 30% tax credit solar is amazing!
Florida is one of the few states to run a solar PACE program where (if your local government participates) you pay for the system through your property taxes. The PACE program effectively is a much cheaper lease/PPA system that also removes the owner's sense of responsibility to their solar system since if you move house the next owners keep paying for it. To receive the best savings from solar it is best just to buy with cash, if this isn't an option for you a HELOC (home equity line of credit) loan secured against your house at low home loan interest rates might be. With a HELOC loan you can approach a solar company as a cash buyer and receive a much better price.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Hollywood 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 Hollywood and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Estimate your solar savings
The average cost of installing residential solar panels in Hollywood, 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 Hollywood, FL is $13,250. (before claiming 26% tax credit and other rebates)
What does the cost of a real solar system look like?
Facts about installing a 15.84kW solar system in Hollywood, FL
This system would offset 100% of your energy usage if your typical monthly bill is $242, however your situation may vary so try our Hollywood solar calculator to get a result tailored to you.
$28,718
Net cost of system
Cash - after 26% solar tax credit
8 Years 4 Months
Average payback time
22,000
kWh
Annual power production
5¢
/kWh
levilized cost of solar energy
24¢
/kWh
If you don't get solar
The forecast average utility price over the next 25 years
Cash flow graph based on cash purchase of this 15.84kW system
Life-time savings on this system over the next 25 years
$87,685
(Prices shown after repayments of capital)
Solar companies in Hollywood, FL that provide pricing through the Solar-Estimate marketplace
58
Average total cost of solar panel installation in Florida
| 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 |
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 |
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.