Solar May Seem Expensive! But it’s Not.
Here’s Why South Florida Home Owners Are Switching Anyway
When it comes to solar energy, there’s a common misconception that has permeated homeowners’ minds: solar is expensive.
To some, the upfront costs associated with installing solar panels can seem daunting, leading many to dismiss the option without considering the long-term benefits and savings.
But, in this blog, we will delve into the financial aspects of going solar, unveil the main advantages beyond monetary savings, and introduce you to Synergy Solar’s fantastic financing options that make solar installation in South Florida more accessible than ever with zero upfront costs, competitive interest rates, and numbers that make sense!
The Upfront Costs: Can Be a Temporary Hurdle If You Don’t Opt for Solar Financing
If you choose to get your own financing, your bank or financial institution will most likely require a down payment. In this case, yes, the initial investment required for solar panel installation is substantial. However, focusing solely on this aspect provides a skewed perspective. Solar energy systems have a unique financial trajectory; while the upfront costs are high, the long-term savings are even higher.
Alternatively, you could consider exploring solar financing options, which frequently offer the advantage of requiring no initial investment and demand zero down payment.
How Much Do Solar Panels for a Home Cost?
According to Energy Sage, the average price for a 6KW solar panel system in Florida is $15,480
Here is an Example Based on the Average Florida Home:
- With a current federal tax credit of 30% the system will cost $10,836.
- Right now, the current electricity bill in Florida is $186-$200.
- If you receive solar financing for a six year period, at a 3% interests you monthly paymewnts on the solar panel system will be $165.
- Not only will youre monthly payments be less than your electricity bill, but within six years the solar panels will be paid off and you will start to enjoy 100% free electricity.
*note, the cost of a solar panel system for a home is relative to the amount of electricity you use. The above is an example based on a 6KW solar panel system. If you currently pay less then $186-$200 a month for electricity, you will need less solar panels to power your home and so the cost of your system will be less.
What Determines The Cost of a Solar Panel System?
Numerous factors influence the price that a solar installer might quote you for solar panels. Each solar installation is tailored to the individual circumstances, property, and electricity usage of the homeowner, making it a unique product. Below are key factors that significantly affect the cost of solar panels on your property:
- System Capacity: Larger solar panel systems tend to be more expensive, though the cost per unit tends to decrease as the system size increases.
- Geographical Location: Solar panel prices also vary across states due to local quoting trends and the average size of solar systems in each state. States with larger average system sizes generally have lower average solar costs.
- Brand and Quality of Panels: Solar panels are available in various qualities, often depending on the manufacturer. Higher-quality panels usually come at a higher price.
- Type of Solar Panel: The specific type of solar panel you choose to install—commonly monocrystalline, polycrystalline, or thin-film—directly affects the quality and cost of your installation. Better quality equates to a higher cost.
- Roof Characteristics: The installation costs for solar panels are influenced by more than just the equipment itself. Installers will also factor in the complexity of installing the panels on your roof, with more complicated installations resulting in higher costs.
- Labor Costs: Different solar providers charge varying rates for their installation services. You might decide to pay a premium for a more reputable company, known for better service and quicker installation times.
- Permitting and Interconnection Fees: Though they don’t make up a large portion of the total cost, fees for permits and connecting to the grid contribute to the overall price of your solar panel installation.
Financially Smart: Paying Less than Your Monthly Electric Bill
With the right financing, the monthly payments for your solar energy system can be lower than your current electric bill. Synergy Solar offers attractive financing options, requiring no upfront cost from homeowners; this means that from day one, you could be paying less for energy than you were before.
Short Payback Period: A Faster Return on Investment
Typically, homeowners start seeing a return on their solar investment within 4-6 years. Once the financing is paid off, you’re not just saving money—you’re making money. The solar panels continue to produce energy, significantly reducing or even eliminating your electric bill, and the savings go straight into your pocket.
Beyond the Monetary: The Added Value of Going Solar
1. Environmental Impact: Solar energy is clean and renewable, significantly reducing your household’s carbon footprint. By choosing solar, you contribute to the global effort to combat climate change, ensuring a cleaner, healthier planet for future generations.
2. Energy Independence: Solar panels provide a degree of energy independence. You’re not solely reliant on the grid, which means you’re more resilient against power outages and price hikes in electricity.
3. Increased Property Value: Homes with solar energy systems have been shown to have higher property values and sell faster than those without.
4. Government Incentives: Many areas offer tax incentives and rebates for solar panel installations, further reducing costs.
5. Technological Advancement: Solar technology is constantly advancing, becoming more efficient and affordable. With Synergy Solar, you have access to the latest and greatest in solar technology.
Making Solar Accessible with Synergy Solar
At Synergy Solar, we specialize in solar installations across South Florida. Our mission is to make solar energy accessible to every homeowner, and our financing options reflect that commitment. With no upfront payment required and the potential for monthly payments to be lower than your current electric bill.
Ready to Embrace Solar? Contact Synergy Solar Today!
Don’t let the myth of high costs deter you from exploring the incredible benefits of solar energy. Contact Synergy Solar today to learn more about our financing options and how we can help you switch to solar, save money, and contribute to a greener planet. Remember, going solar is not just an investment in your home—it’s an investment in our collective future.
Article Written by Roberto De Solar
Editor at Synergy
Synergy is a leading solar installer in Miami & South Florida
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