Are Solar Panels Worth It in Florida? Weigh the Cost
January 20, 2015
You’re considering converting your house to solar power (which would seem to make sense living in the Sunshine State).
But you’re not sure if it’s worth it.
So, is it?
Long story short: it depends.
Are you planning to live in your home long enough for solar to pay itself off over its lifetime?
Can you handle the high upfront costs?
To help you answer those important questions, consider these averages related to solar in Florida:
- Cost to go solar: $24,692
- Total savings over 20 years: $33,284
- Payback period: 16 years
Source: Solar estimate tool powered by Clean Power Research.
Note: These numbers are from 2011. So costs may have fallen. Only an estimate from a solar installer will give you an accurate cost and an accurate payback period.
While going solar CAN pay for itself in the long run, make sure you:
- Can handle the upfront cost (leasing options are limited in Florida)
- Are going to be living in your home for more than 16 years.
You should also consider the opportunity cost.
That is, what else could you do with the money you plan to spend on solar? Where else could you invest it for a quicker return on investment? (Quicker than 16 years, anyway.)
Alternate ways to decrease you home energy costs
For a quicker bang for your buck, there are several ways to save money by lowering energy costs.
A big one is sealing leaky air ducts in your home.
According to ENERGY STAR, the average home’s air ducts lose 20% of the air that passes through them due to:
- Poorly connected ducts
That’s like paying for 25 gallons of gas, but only getting to use 20 because 5 gallons leaked out.
Learn more about air duct leakage.
A few other ways to lower your energy bills:
Want to stop wasting energy in your home?
- Find out how your home is using energy
- Sniff out how you’re wasting your money
- Give you a detailed plan on how to improve your energy performance in the future
Advanced Air has been serving Fort Myers and Naples, Florida, and the surrounding areas for over 25 years.