Among the many advantages of solar power for Central Florida homeowners and business owners is the clean, efficient energy it produces. Getting that energy for a very low initial investment, compared to the years of nearly free electricity, means you will see a high return on investment (ROI) from the first month after installation. Even assuming you took out a loan to help finance solar power installation, your strong ROI begins the very minute the current flows and only climbs the longer you have the photovoltaic solar power array.
What to Expect with ROI
We can say one of the advantages of solar power is a great ROI, but how do you know? Suppose you borrow money for in installation that, in total, costs you $36,000 (including interest charges) over 30 years. The typical energy savings for that same time is $105,809, even assuming the solar energy system’s efficiency degrades at 0.5 percent annually. This is a net savings of $69,809 over the life of the system. This is an annualized savings of over $2,325.
From the First Moment
Unlike some capital improvements, investments in solar energy pay dividends from the first moment sunlight strikes the solar panels. Your savings add up the longer you run the solar power system, one of the many advantages of solar power. The more sunlight your system receives in a day, too, the more savings you gain. This makes Central Florida an ideal spot for reaping the advantages of solar power: insolation. Insolation is the amount of sunlight a given area of the earth gets in a given period. Florida, being so close to earth’s equator, gets direct sun longer than, say, your relatives living in Maine.
The National Renewable Energy Laboratory (NREL) puts out a map showing the average annual solar resource available nationwide. Florida reaps an enormous amount of free energy from the sun: upwards of 5 kilowatt hours per square meter per day. This can be efficiently, endlessly harnessed with expertly installed solar panels. One of the main advantages of solar power is the continuous return on that one-time investment, unlike other energy sources. Think of the repair, wear and tear on a furnace, boiler or heat pump. A passive solar power system needs minimal upkeep and provides abundant, renewable energy.
Gone are the days when coal was king for home comfort, and earth’s atmosphere is cleaner for it. Central Florida is spared, thankfully, from the worst effects of acid rain and smog. But electrical energy production, which fires many a furnace, still depends on coal and other fossil fuels. Natural gas is efficient and cleaner than other fossil fuels, but is still not as clean as photovoltaic solar power. Among environmentally conscious homeowners, one of the great advantages of solar power is its utter lack of waste products—no soot, no sulfur, no carbon monoxide is formed from providing your house with ample electricity and (on those rare Florida evenings) heat.
Among the many advantages of solar power, the generous tax credit you can get for installing photovoltaic solar panels can help accelerate your savings. Through December 31, 2019 for solar energy systems, you can claim a Residential Energy Credit of up to 30 percent of the cost of installing a photovoltaic solar system.
To uncover all the advantages of solar power for your Central Florida home, contact Superior Solar today. Our experts in solar pool heating, solar hot water and solar electricity can help you benefit from all that solar power has to offer.
Topics: Solar Information