Solar power in Saint Petersburg, Florida
Under service by Florida Power and Light, homeowners in St Petersburg are eligible for net metering. This is great news, as this incentive makes it easy to eliminate your electric bill by installing solar panels.
In addition to that, you can use the federal tax credit to reduce the upfront cost of your system. The tax credit is worth 26% in 2020, or 22% if you install in 2021.
The combination of net metering, the federal tax credit and plentiful sun makes St Petersbug an excellent place for solar.
Net Metering Broken Down
Electric customers in St Petersburg are eligible for net metering providing 1 for 1 credit with FPL's retail power price for excess solar generation sent to the grid. Solar production numbers in Saint Petersburg rival numbers seen in Arizona and guarantees net metering will be saving you some serious money. There is also the 30% federal solar tax credit covering 30% of the total installation cost. With utilities and some politicians fighting net metering the time to go solar is now!
The average cost of installing residential solar panels in Saint Petersburg,
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 Saint Petersburg, 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 Saint Petersburg 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 Duke Energy Florida, Tampa Electric Co
How much can solar panels save you in Saint Petersburg
Saint Petersburg PACE Program
Florida offers a statewide PACE program for the installation of solar panels.
If your local government participates, you can lease solar and pay for it through your property taxes at a much cheaper rate. What's great about PACE is that it completely removes responsibility for the solar system since if you move house the new owner pays continues paying for it because it is linked to the property.
However, to receive the most savings, it is still best to be a cash buyer. If cash is not an option for you perhaps a HELOC (Home Equity Line of Credit) secured against your house at home loan rates of around 4%. This way 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 Saint Petersburg 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 Saint Petersburg 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 Saint Petersburg
What does the cost of a real solar system look like?
Facts about installing a 12.6kW solar system in Saint Petersburg, FL
This system would offset 100% of your energy usage if your typical monthly bill is $227, however your situation may vary so try our Saint Petersburg solar calculator to get a result tailored to you.
Net cost of system
7 Years 3 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 12.6kW system
Life-time savings on this system over the next 25 years
(Prices shown after repayments of capital)
Solar companies in Saint Petersburg, FL that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Saint Petersburg
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.