What You Need to Know About Home Solar Energy

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What You Need to Know About Home Solar Energy

Understanding home solar energy essentials is crucial. We’ll explore the key aspects and what may be less critical about solar energy. Beginning with electricity measurement, your power bill reflects charges by the kilowatt-hour. Home solar systems’ output is also measured in kilowatt-hours. The appropriate size for a home solar system is dictated by your average monthly kilowatt consumption. Ideally, home solar systems aim to match your annual average monthly consumption without surpassing it, unless additional energy is required for electric vehicle charging.

Understanding the Significance of Net Metering

Net metering is a crucial aspect of solar energy adoption in Florida, offering significant benefits to homeowners. Here are the key points to understand. Folks, there is no other way to put it, one-for-one NET METERING is the ingredient that makes home solar a can’t lose investment, and Florida has the most beneficial net metering policies in the United States.

The net metering policy in Florida primarily applies to customers of investor-owned utilities (IOUs) like Florida Power & Light (FPL), Duke Energy Florida, Tampa Electric Company (TECO), and Florida Public Utilities Corporation. These utilities cover about 79% of Floridians. In Florida, any excess energy credits roll over to the next month’s bill at the full retail rate. At the end of the year, any remaining credits are compensated at a lower rate based on the utility’s wholesale energy cost.

It’s important to stay informed about potential legislative changes that could impact net metering policies. There have been attempts to modify or dismantle net metering in Florida, so keeping up to date with current regulations is essential. It is written into law should the net metering laws change homeowners with solar have grandfather rights to protect their investment.

How Homeowners Purchase Home Solar Matters

Financing is crucial for transitioning to solar power. While financing is important, paying in cash yields the highest return on investment. The key consideration in solar financing is the speed of repayment. Homeowners often finance their solar systems and aim to pay them off quickly to maximize their investment returns.

Earning a profit from solar can be challenging if the system takes over 10.5 years to recoup the costs compared to traditional power company expenses. Nonetheless, numerous homeowners choose to finance their solar installations with zero upfront payment over a 20-year period, preferring the stability of a fixed cost.

Financing plays a key role in going solar. Although financing plays a key role in going solar, paying cash offers the best return on investment. The most important factor in financing solar is how fast you can pay it off. Many homeowners finance home solar and pay it-off sooner rather than later to increase their return on investment.

It’s difficult to make money from solar if a system takes more than 10.5 years to offset the cost from what you would have paid the power company. Many homeowners have opted to finance solar with no money out of pocket for 20 years because they like a fixed cost.

It's Important to Have a Keen Understanding of the ITC Tax Credit

Disclaimer: You Must Seek Expert Advice for the ITC Solar Tax Credit Because No Two Homeowners’ Income Taxes are the Same. Consult with a Tax Expert to Determine if You Qualify for the ITC Tax Credit and How Much You Qualify for Per Year.

The ITC Tax credit isn’t as difficult as many make it sound. So long as your annual federal income taxes exceed the amount of your tax credit; You can apply the ITC tax credit when you file your income taxes for the year of purchase.

The ITC tax credit has been difficult for some homeowners because the ITC tax credit can easily be misconstrued as a rebate when it isn’t. The tax credit does not have to be claimed in a single year of taxes, it can be spread out for up to 5 years. The most important thing in this step is to be certain what you qualify for before purchasing solar. The ITC tax credit is a cash bonanza for homeowners who meet the ITC qualifications.

Many Local Solar Companies Have Gone Out of Business

A local solar installation company may sound like a good idea, but it’s proven to be a nightmare for some. Many solar companies have gone out of business because it’s an expensive business model with small margins.

On the other hand, a premium national solar installation company isn’t going anywhere but up. Your Solar Advocate’s national partner uses a state-of-the-art platform that brings Certified solar experts together in one place.

Unlike local solar companies, our national partner has eliminated the bloat that small solar companies endure. Our national partner has installed over 25,000 home solar systems and generated more than a billion dollars in sales.

Trim the fat, have a rock-solid solar installer with staying power, get the highest quality solar panels for the lowest cost, and have warranties with backbone, that’s what Your Solar Advocate offers through our national partner POWUR. Your Solar Advocate offers the best of two worlds to homeowners, purchase solar through POWUR our national partner or pay wholesale cost, the same as local solar companies pay us for solar installation. your Solar Advocate is a solar “installation company” with owner operator Christian Figueroa having done over 1000 installations in Florida since 2017. Christian Figueroa is a premier solar installation expert that many other solar companies have relied on for their company solar installations.