Aug 10 2015
Timing Your Solar Power Installation.
Let the sun be your utility provider. Florida’s long, sunny, summer days provide free solar energy. Solar power generates clean energy and helps to reduce your individual carbon footprint as well. So, considering a solar system installation as part of the solution to lower your electrical generation costs.
Residential solar power generation is no longer more expensive than traditional fossil fuels. Indeed, it is cheaper. In the past seven years, wind and solar capacity in the United States has tripled, and new capacity has favored renewables. In 2014 wind and solar made up 55 percent of new electric generating capacity in the United States. By comparison, natural gas was 42 percent. The other new sources — coal, nuclear, and oil — were all under 1 percent.
Currently, the federal government allows a 30 percent investment tax credit for solar. That credit is now not set to expire at the end of 2016. A report from Deutsche Bank says that even without additional subsidies, solar is already cost competitive in Florida and 13 other states. If costs for solar continue to fall as predicted, then we could see solar electricity as cheap as average electricity bill prices in 47 states within the next two years, according to Deutsche Bank’s report.
So, a home solar system can save money while providing a better future for the planet and generations to come. That said, the real issue is not whether you should or should not install a solar power system on your home, but when.
Major home solar installation companies, such as Sunrun, claim that the timing for you to install a solar system couldn’t be better. They point out that through 2016, you can take advantage of a federal tax credit that lets you write off up to 30% of the cost of buying and installing a solar system. They also suggest that there are also many programs available that allow homeowners to go solar with $0 down.
But, the devil is in the details. According to Sunrun, on average the total cost of solar installation can be between $15,000 to $29,000 for average sized systems sized between 4kW and 8kW. The go solar with $0 down contracts typically let you pay for the electricity you use at a 20% discount from your current utility rate being charged by FP&L.
For the average Florida homeowner, it would take a lot of years to justify the installation, even if electrical rate rise. But, what if utility rates fall? Homeowners locked into a long term contract such as described above would pay dearly for their bleeding edge technology.
Future Solar Power Installation Costs.
According to Giles Parkinson, founding editor of RenewEconomy.com.au, “Solar Costs Will Fall Another 40% In 2 Years.” After reading that article and others, I am inclined to believe that now is not the perfect time to install a solar power system on a home in Florida. The time will come, but it is not now.
Would you like a complimentary…no obligation …project consultation? Please feel free to call for more details.
Goodiel Electric, LLC.
Mobile: (772) 263-2333.
Skype: (772) 263-2333.
Florida License – EC13005097.