Residential Solar Applications
Solar electric power systems (PV), solar
water heaters, and solar pool heaters are all available to help offset
the cost of energy use in your home. The resulting reduction in
your electric bill will increase as the cost of electricity increases in
your area in upcoming years. All residential solar applications in
Florida are exempted from sales and property taxes. Installations will
not increase your tax bill in any manner!
Solar electric systems generate power for
use in your home, reducing or eliminating your electric bill and
reducing your carbon footprint. Solar photovoltaic
systems are eligible for Florida state rebates of up to $20,000
per household; the homeowner receives a rebate of $500 for a solar water heater.
Both systems enjoy a Federal income tax credit of 30% of your full
investment, including installation for either system. There
is no limit to the amount of the Federal Tax Credit. Solar pool heaters are
eligible only for a Florida state rebate of $100.
For a more detailed description of all
incentives both Federally and by state and city visit www.dsireusa.org.
The Florida Public Service Commission enacted
net metering in 2008. Net metering requires all public utilities
to install a special electric meter on your home which will credit you
for all the energy you produce above and beyond your household
use from your solar electric system! If you have produced an
overall excess during the year, you will receive a check in January for
the excess energy produced.
An example of how these State and
Federal incentives effect your investment in a residential solar
electric system is shown below. The National Renewable Energy Labotory
(NREL) recently surveyed the average cost nationwide for an installed
solar electric system. They determined that the average was $8.32 per
watt DC. This is the figure that we will use in this example for a 5kw
residential system. Keep in mind that this is not a quote.
Total Initial Investment ($8.32 x 5000)
Florida State Rebate ($4.00 x 5000)
Federal Tax Credit (.30 x
=11.8% Return Year 1
Compare that with your CD, money
market or even stock market returns and you'll agree solar is a
great investment. And this ROI will rise each year as electric rates
Take a look at Simply Green Home Services reviews to learn how to make your home even more eco-friendly with advanced HVAC system.