Cost of solar in Homestead, FL
Electricity Consumption in Homestead
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 Homestead, Florida
The City of Homestead offers a net metering program to their solar customers. Under net metering each unused kWh produced by your solar system is sent to the grid and that offsets the cost of another kWh drawn from the grid such as at night for example. If your solar system exports more energy than what your home pulls from the grid the excess is credited at the retail rate for power and can be used to offset the cost of future bills up to 1 year later. At the end of the 12 month billing cycle excess credit can be deposited into your account. There is also the federal solar tax credit allowing you to deduct 30% of the total system cost from your taxes over however many years. This tax credit also imposes no size restrictions, it'll always cover 30%.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Homestead 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 Homestead 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 Homestead, 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 Homestead, 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 14.65kW solar system in Homestead, FL
This system would offset 100% of your energy usage if your typical monthly bill is $237, however your situation may vary so try our Homestead solar calculator to get a result tailored to you.
$26,560
Net cost of system
Cash - after 26% solar tax credit
7 Years 11 Months
Average payback time
19,750
kWh
Annual power production
5¢
/kWh
levilized cost of solar energy
26¢
/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 14.65kW system
Life-time savings on this system over the next 25 years
$88,148
(Prices shown after repayments of capital)
Solar companies in Homestead, FL that provide pricing through the Solar-Estimate marketplace
42
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.