Solar power in Pompano Beach, Florida
Florida Power and Light (FPL) offers net metering, which means that it's easy for Pompano Beach residents to eliminiate their electric bill by going solar.
There is also the federal solar tax credit, which in 2020 allows 26% of the system cost to be claimed as a tax deduction (this can be spread over many years).
With politicians and electric utilities trying to kill off solar the time to switch is now!
Net Metering Broken Down
Serviced by FPL, solar customers here can benefit from 1 for 1 net metering.
The total amount of unused power sent to the grid is subtracted by how much power is used from the grid and the customer is billed or credited for the net amount this is called net metering.
Considering the excellent solar production numbers in Florida, net metering can make a lot of money.
The average cost of installing residential solar panels in Pompano Beach,
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 Pompano Beach, FL
(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 cost
There 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 Pompano Beach 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 Pompano Beach
Pompano Beach PACE Program
Florida offers an excellent PACE program, but do note that not every locality offers it.
This PACE program allows those interested in solar to effectively lease their solar system through their property taxes at a cheaper rate to a normal solar lease/PPA.
PACE stays with the property so even if someone moves house the next owner will pay for the system through their property taxes.
A big reason people don't go solar is that they don't know if they will move house or not, this program removes the feeling of being tied to your home from your solar system.
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator for Pompano Beach 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 Pompano Beach 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 Pompano Beach
What does the cost of a real solar system look like?
Facts about installing a 16.42kW solar system in Pompano Beach, 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 Pompano Beach solar calculator to get a result tailored to you.
Net cost of system
8 Years 7 Months
Average payback time
Annual power production
Levelized cost of solar energy
If you don't get solar
Cash flow graph based on cash purchase of this 16.42kW system
Life-time savings on this system over the next 25 years
(Prices shown after repayments of capital)
Solar companies in Pompano Beach, FL that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Pompano Beach
After 26% solar tax credit
After 26% solar tax credit
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:
|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.