How Much Do Solar Panels Cost in Florida?

With an average of 237 days of sunshine per year, it’s no mystery why Florida is known as the Sunshine State. In fact, Florida has become one of the leading states for solar energy, and the cost of solar panels in the region is well below the U.S. average. What’s more, Florida offers plenty of tax exemptions, utility rebates, and other incentives to make solar energy systems even more affordable. With so many incentives available for homeowners in Florida, now is the best time to go solar.

Average Price of Solar Panels in Florida

Average cost of a solar system

According to recent data, the average price of solar panels in Florida is $2.53 per watt. This is much lower than the reported national average of $2.94/W. Based on this price, a typical 5kW solar system would cost approximately $12,650 in Florida, compared to $14,700 nationally. In other words, solar panels are 14 percent cheaper in Florida than the national average.

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Homeowners that qualify for the federal solar tax credit (ITC) can get a 30 percent discount on the total cost of a solar system. This means that, after the ITC is applied, the average total cost for a 5kW solar system would be $8,855 in Florida, and $10,290 nationally

Florida Solar Incentives

In addition to the already low average price of solar panels, the Sunshine State offers several incentives to make it cost-effective to buy solar panels in Florida. Sales tax exemptions, property tax abatements, local utility rebates, and full-retail net metering are just some of the perks of going solar in Florida. 

At Lake Mary Solar, we’re here to make going solar simple and affordable. Our experienced Florida solar contractor can help you leverage all of the available solar incentives to significantly lower the cost of a new solar panel system. 

Solar Incentives in Florida:

Zero-down Financing

There are numerous loans available to finance your home solar system in Florida. The most common options are home improvement loans and home equity loans. Many of these are available with little or no down payment and no payments until 60 days after installation. What’s more, these unsecured loans won’t prevent you from taking advantage of the federal tax credit. In most cases, your monthly loan bill will be less than your electric bill, allowing you to start saving money immediately.

Federal Tax Credit

Officially known as the solar investment tax credit (ITC), this benefit is available to all U.S. residents. With the federal tax credit, you can claim 30 percent of the cost of your solar photovoltaic (PV) system as a tax credit in 2022; however, this will decrease to 26 percent in 2033, 22 percent in 2034, and will expire in 2035. Because this tax credit won’t be around forever, now is the best time to invest in a photovoltaic (PV) system.

Full-retail Net Metering

With a grid-tied solar panel system, you’ll be able to send excess electricity back to the grid and earn a credit for the amount you have sent. This is a great way to save money and shorten the payback period of your home solar system. Unlike many states, Florida provides full retail net metering, meaning you’ll be compensated for the energy produced by your solar system at your current electricity rate.

No Sales Tax

With the Solar and CHP Sales Tax Exemption, Florida residents can buy solar products without paying the six percent state sales tax. This tax exemption was put in place in July 1997 and made permanent in May 2005.

Property Tax Exemption

Usually, an increase in property value means an increase in property taxes; however, Florida offers a 100 percent property tax exemption for residential renewable energy property. In other words, any increase in property value as a result of installing a solar system will be tax-exempt. This is a great incentive because, according to Zillow, homes with solar systems are valued at 4.1 percent more on average than homes without solar panels.

Average Price of Solar Panels by County

Throughout the state of Florida, solar panels are significantly less expensive than the national average. At Lake Mary Solar, we provide affordable and reliable solar panel installations for homeowners in Central Florida. Below you’ll find a list of counties that we service, as well as the average cost of solar panels for each county. 

Cost of Solar Panels by County:

Brevard County

According to recent market data, the price of a solar panel system in Brevard County is $2.64/W. Check out our Brevard County page for more information about going solar in this county. 

Citrus County

According to recent data, the average cost of installing a solar system in Citrus County is $2.55/W. If you’d like to learn more about installing a solar system in this county, check out our Citrus County page

Flagler County

 Market research shows that the average cost of panels in Flagler County, Florida is $2.68/W. Click here to learn more about solar panel installations in Flagler County. 

Hernando County

Recent data indicates that the average price for installing a solar system in Hernando County, FL, is $2.51/W. For more information, please visit our Hernando County page

Hillsborough County

Based on recent market research, the cost of a solar system in Hillsborough County is $2.48/W. Visit our Hillsborough County page for more information. 

Indian River County

Recent data indicates that the average cost of a solar system in Indian River County is $2.61/W. To learn more about going solar in this county, please visit our Indian River County page.

Lake County

 The average cost of a solar system in Lake County is $2.52/W. If you’d like to learn more about going solar in this county, check out our Lake County page

Marion County

The average cost of installing a solar system in Marion County is approximately $2.57 per watt. For more information about solar installation in this county, please visit our Marion County page

Orange County

According to market research, the average price of a solar system in Orange County, Florida, is $2.50/W. To learn more about going solar in Orange County, click here

Osceola County

The average cost for solar panels in Osceola County is approximately $2.54/W. For more information, please visit our Osceola County page

Pasco County

In Pasco County, Florida, the average price of solar panels is $2.47 per watt. For more information about solar installations in this county, please visit our Pasco County page

Polk County

According to recent market research, the average cost for solar a solar panel in Polk County, Florida, is $2.50/W. To learn more about going solar in this county, check out our Polk County page

Seminole County

In Seminole County, the average price for a solar panel system is $2.52/W. Please visit our Seminole County page to learn more. 

Sumter County

Market date indicates that the average cost of a solar energy system in Sumter County, Florida, is 2.62/W. Please check out our Sumter County page for more information about solar installations in this county. 

Volusia County

According to market data, the average cost of a solar system in Volusia County, Florida, is $2.58 per watt. Please visit our Volusia County page to learn more about going solar in this county. 

What Determines the Price of Solar Panels in Florida?

The Solar Installer

One of the most important factors when installing solar panels is to choose the right solar installer. Some companies may charge more than others. They also may recommend a larger solar system than you need to power your home, or will suggest solar products that are overpriced or unnecessary

To ensure you get the best deal, gather quotes from several Florida solar installers before making your final decision. At Lake Mary Solar, we offer a price-match guarantee for any licensed solar contractor in the state. If you find a better price elsewhere, let us know and we will match it.

The Solar Products

There is a wide variety of solar panels and other solar accessories on the market, each with its own price point and benefits. Generally, the more durable and efficient the solar panels are, the more expensive they will be. An experienced solar contractor can help you pick the best solar panels for your budget. 

The Financing Method

How you choose to finance your solar panel system will also determine how expensive it will be. There are three primary financing options for solar panels, each with its own benefits and drawbacks. 

A cash payment is the most affordable financing option in the long run, but many homeowners might not have enough money on hand. Although the ITC will reduce the cost by 30 percent, you’ll have to pay the full price up front and then wait until the next IRS declaration to claim the tax credit. 

A solar loan makes solar installations much more accessible, as the cost can be broken up over several payments. When participating in a net metering program, homeowners can often pay off their loans from the savings on their electricity bills, alone. The only drawback to this financing option is that you’ll have to pay interest on the loan, making the total price higher than it would be with a cash payment. 

If you choose to finance your solar panels with a solar lease or PPA, you can have the system installed without owning it outright. With a solar lease, you’ll pay a fixed amount each month, while a PPA charges you based on the power output of the solar system. The biggest downside to this financing option is that you won’t be eligible to claim the federal solar tax credit, as you won’t be the legal owner of the solar panel system.

When you schedule a home visit with us, our solar contractor will help you determine the right financing option that fits your budget and maximizes your savings. 

Start Saving With Solar

Given the low price of solar systems in Florida and the abundance of available incentives, going solar has never been more affordable. Contact us today if you are ready to invest in your own home solar system. Our highly experienced contractors can help you find the right financing options and get the most out of the incentives available to Florida residents.

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