Solar Rebates in the Sunshine State
There a many solar rebates available to customers of Florida’s many utility companies. In order to apply for a rebate with your utility you will need a Solar Site-Survey and Solar System Quote from a Licensed Solar Contractor. Give us a call at (352) 377-8866 or use the contact form below to request yours free solar saving analysis today!
FPL Solar Rebate Programs
The Florida Power & Light Solar Rebate Program is available to both residential and commercial customers in the state of Florida. Currently, the program has $597,000 available for residential solar water heating the solar electric rebates are currently on a standby list. The program has $591,681 available for business solar water heating and a standby list for solar photovoltaic (electric). We look forward to helping you prepare for the online application process.
- Solar Water Heater Rebate: $1,000
- Solar Electric: up to $20,000
- Solar Water Heater Rebate: $50,000
- Solar Electric: up to $50,000
Duke Energy Solar Rebate Programs
The Duke Energy SunSense Solar PV Program is available to both residential and commercial customers in the state of Florida. It is important contact us in advance to prepare your paperwork for the online application process. We will be happy to assist you free of charge.
- Solar Water Heater Rebate: $550
- Solar Electric: up to $20,000
- Solar Electric: up to $130,000
“How long will it take me to get my money back?”
Before we address the answer to that question, we should look at another way of considering the benefits of investing in solar electric power. This analysis is done from a strictly economic or financial perspective that does not take into account the added equity value to your home. Note: Solar systems are exempt from property tax. Investing in a solar electric system could be considered the equivalent of replacing a relatively safe type of investment for another safe type of investment, a CD on the roof compared to a CD in the bank.Let’s explain: Most people would consider a certificate of deposit (CD) that they hold at a local bank or a treasury bond as a relatively safe investment. It could also be classified as a “liquid” investment, meaning that you should be able to sell (redeem) the asset and recover your cash, or you could use the income generated for living expenses (like your current electric bill). If you consider having a CD in the bank paying you interest, to a solar system on your roof paying you interest in the form of the savings you could realize by not having to purchase some or all of your electricity needs from your local utility, how do those investments compare? For example, let’s compare $18,900 invested in a CD versus the same $18,900 (assumed net after expected federal tax credits) invested in a 7,000 watt solar system for your home. A $27,000 solar investment gets a 30% Federal rebate of $8,100. For illustration purposes only, let’s assume your CD is currently earning 3% (at the time of preparing this article, 5 year CD rates could be found for approximately 3.0% per year 1 year CD were under 2%). Your $18,900 CD earning 3% per year should earn you $580 per year before tax. If you assume a 25% tax bracket, then your actual after tax earnings would be $434.70 (translating to the CD’s 2.25% after tax rate of return.
Now let’s look at our 7,000 watt solar system. Let’s assume you are in Florida and we can assume 5 hours of sunlight per day on average. A 7,000 watt system should generate about 35,000 watts per day or 35 Kwh per day. The current cost of electricity per Kwh from a Florida utility is approximately $.14. The $.14 is based on eliminating the top tier of your electric bill. This translates to $4.90 per day of electricity generated that you should not have to purchase (or could sell to the utility depending on your personal usage). When multiplied by 365 days per year, that works out to $1,789 per year of potential electricity you might not have to purchase. This works out to a 9.52% non taxable return on your S18,900 invested in your solar electric system, after the 30% Federal Tax Rebate. All solar income is nontaxable.
A smaller system of 3-4 Kwh, with a lower initial investment, will also provide an excellent rate of return. The best investment depends on your utility company and your average monthly usage.Simple comparison: $490 potential income per year (2.25% after tax) from a CD versus $1,789 (9.52% after tax) in potential savings on your energy bills, the difference is more than triple the amount earned by a CD! This analysis does not take into account that CD rates could go up and/or down, personal income tax rates could go up and/or down and utility costs could go up and/or down. Florida’s Public Service Commission has estimated that Florida’s utility rates have increased 7..4% per year over the last 10 years. You must make your own assumptions about all these rates and where they are likely to be in the future. THE AVERAGE UTILITY RATE INCREASE IN FLORIDA FROM 2012 to 2013 AND FROM 2013 to 2014 WAS 8.6%.
The Main Advantage to doing business with ECS lies with Florida law and your liability as a homeowner.
Buyer Beware: There are a few important facts you need to be aware of before you contract for a solar installation.
HOME PROTECTION GUARANTEE
1. You need to know that Homeowner’s Insurance will only cover storm damage to your solar system, NOT damage to your roof or damage in the home as a result of a solar collector installation.
2. Florida law forbids all but state-licensed roofing contractors or CVC solar contractors whose insurance company guarantees against any damage of your roof or in your home from installing solar systems. Other licensed contractors such as the old solar CW license and all county RX solar licenses can pull a permit for solar work on your roof, but they may NOT perform the installation of the solar collectors on your roof – they will have to subcontract with either a state-licensed roofer or a CVC licensed solar contractor.
3. In addition, it is only the State-Licensed Roofer or eve solar licensed contractor that can guarantee against damages on your roof or in your home as a result of a solar installation as they carry specialized completed operations insurance for this purpose. To have a copy of proof of our insurance faxed or mailed to you, please call Scarborough Insurance at 352-377 -2002 in Gainesville, FL.[full_width_color bg_color=”#EFEFEF” color=”#333333″]
A Note about Worker’s Compensation:YOU COULD LOSE YOUR HOME – if the contractor you hire does not carry Worker’s Compensation. ’10 one doing solar installations on a roof can exempt themselves from Worker’s Compo You will be responsible for any and all damages arising from an incident involving an improperly licensed and insured contractor installing solar on your roof.
Now, go directly to the most insured, longest established and most awarded contractor for your solar needs and call ECS today at 352377-8866. It is a wise decision for many reasons, some of which are listed below.
The ECS philosophy is to sell the most reliable products at a fair price with quality workmanship and to stand behind our installations. All employees sign a pledge to do the job right the first time, and if a problem does occur, to make sure it is corrected promptly. We have provided continuous service to our clients since 1977. Ask your contractor how long they have been licensed and ask yourself if you can expect future service from them.