Choosing to buy solar panels in St. Petersburg, FL is one of the best ways to save thousands of dollars and boost property value. From day one you can make money thanks to net metering and benefit from federal tax credits.
But what does all this mean? Where do I even start? In this easy-to-understand guide, we’ll explain it so you can buy your solar panels in St. Petersburg, FL with ease.
Florida Power Services ‘The Solar Power Company’ welcomes you to call us today for an initial. consultation
Is It Worth Buying Solar Panels in St. Petersburg FL?
Known as the sunshine city, there are few places in the U.S. better suited to solar panels than St. Petersburg, FL.- 361 days of sunshine per year (156 higher than the U.S. average).
- Net-metering is permitted, allowing solar owners to make money from the excess solar energy generated.
- Solar panel costs are cheaper than in other locations in the U.S.
- There are state-level property tax and sales tax incentives.
- St. Petersburg utility bills are rising (as much as 35% in 2023), so now is the time to act.
How Much Do Solar Panels Cost in St. Petersburg, FL?
As of mid-2023, the average cost of solar panels in St. Petersburg, FL is:- $2.7 per watt (lower than the U.S. average of $3.00 per watt).
- The average monthly electricity usage in St. Petersburg is approximately 1,123 kWh per month.
- Price will vary depending on the choice of solar panels and configuration.
- You can save 40% on your total solar installation costs via Federal Tax Credits.
What Solar Incentives Are There in St. Petersburg?
When installing solar St. Petersburg, there are some fantastic incentives to help you save thousands of dollars:- Federal tax credits
- Property tax exemptions
- Sales tax exemptions
Federal Tax Credits
Solar panel installations in St. Petersburg can benefit from a 30% reduction via Federal tax credits, here’s how they work:- Federal tax credits provide a reduction on your income tax bill.
- For example, $2,000 of Federal tax credits = $2,000 less required income tax.
- 40% of all solar installation costs can qualify and be claimed on your federal income tax bill.
- There is no maximum amount that you can claim.
- Rolls over to the next year if needed!
- The current rate of 40% is available until 2033 when it will drop to 36%.
- On a $30,000 solar installation, you could save $12,000!
Sales Tax Exemption
If you’re a St. Petersburg solar panel owner, you can benefit from being exempt from paying the 6% sales tax on your new panels (Florida’s Solar and CHP Sales Tax Exemption).Property Tax Exemption
The 100% property tax exemption is another great incentive that allows you to:- Remove the added value of your solar system from the tax valuation of your home.
- So while your home’s market value increases, it stays the same as before on your tax bill.
How Can I Finance Buying Solar Panels in St. Petersburg, FL?
There are various financing opportunities to buy solar panels in St. Petersburg, FL, allowing you to install a solar system without having the cash available:- Buy the solar panels outright with cash.
- Use a loan from a credit union or bank (such as a home improvement loan or home equity loan).
- Choose from one of Florida Power Services’ 3 financial plans (via our partnership with a local reputable Solar Financing Companies).
- Enjoy low, fixed monthly payments and competitive interest rates.
- No money out of pocket purchase!
- Co-Op members can purchase solar panels together.
How Much Can Solar Panels Boost Property Value in St. Pete?
A home with a solar energy system pre-installed is predicted to boost property value by $20 for every $1 reduced in annual utility bills. So for a home saving $200 per month via solar panels, a St. Petersburg property can go up by $40,000. Read Related: 10 Reasons Why Tampa Residents Are Going Solar TodayWhat Types of Solar Panels Do I Need in St. Petersburg?
The type of solar panels you choose is very much down to personal preference. Florida Power Services offer the choice of black or blue cells.- Black panels are typically a higher price.
- The black (monocrystalline) panels absorb more sunlight and are often considered more aesthetically pleasing.
- Blue (polycrystalline solar panels) are considered the most cost-effective and eco-friendly (due to less silicon waste during manufacturing).
Which Brand of Solar Panels Should I Get?
With countless solar panel manufacturers arising every year, we advise you to trust your solar installer’s recommendation over the panel brand. Florida Power Services ‘The Solar Power Company’ typically uses:- Q Cells (U.S.)
- Canadian Solar (Canadian)
- Hyundai (S Korea)
What Size Should My Solar System Be in St. Petersburg?
- To calculate the sufficient size of your solar panel system in St. Petersburg, you will need to consider your household’s energy consumption.
- Generally, a residential solar power system requires six 300-watt solar panels for every 5 kWh of daily energy use.
- Please use our system size calculator to get an estimate before consulting our expert local solar team.
Do I Need Solar Batteries?
Deciding on whether you need solar batteries or not is very much down to preference and energy needs. If you can answer yes to the following, it’s advised that you go for it:- Do you want the ability to power your home when there are grid outages (such as during storms)?
- Do you want to be able to use solar energy at night?
- Do you want to be able to use solar energy even on cloudy or stormy days?
What Solar Components Do I Need?
When installing solar panels in St. Petersburg, FL you will also need:- Solar inverters
- Solar racking
- Solar mounting
- Solar batteries (optional)
What is Net Metering?
- Net metering is a utility billing agreement that allows solar owners to sell their excess energy generation back to the grid.
- The local energy provider will give you retail rate credits for the power you’ve provided.
- Around 20-40% of solar energy generation is typically shared with the grid, giving you a chance to make significant savings.
- Your excess solar energy is used by nearby buildings, so you’re helping your community be more eco-friendly.
