Venice, FL is one of the best locations for buying solar panels thanks to its consistent sunlight and solar incentives. Even when installed with a loan, you could save around 54% more than you would via regular utility energy.
In this blog, we’ll answer the most common questions we get about buying solar panels in Venice, FL.
Are Solar Panels Worth The Investment in Venice, FL?
Yes. If you want to make energy bill savings over the long term while boosting your property value, there are few places as good for solar energy in the U.S. than Venice, FL.
Days of Sun in Venice, FL
Solar panels need around 4-5 hours of sunlight per day to operate at full power. With that in mind, Venice is one of the best locations in the U.S. for year-round solar use.
- There are 252 sunny days in Venice, FL every year (the U.S. average is 205 days).
- April 2 to May 28: Average daily incident shortwave energy of over 6.2kw per square meter.
- Average of 6.6 kWh in May.
- Even the darkest months (November to February) provide a strong average solar energy of 4.2 kWh.
- December provides 3.6 kWh
Average Return on Investment for Solar in Venice, FL
Here’s an example of a solar installation in Venice, FL, and the potential ROI you could make from it:
Note: This solar size is an example and we regularly install larger and smaller solar systems.
|Utility||Solar (Bought with Loan)||Solar (Bought with Cash)|
|Cost||-$199 (Monthly Average Utility Bills)||-$165 (Estimated Loan Payment)||-$33,665 (Cash Price)|
|Rising Cost of Utility Power||5%||5%||5%|
|Utility Interconnection Fee||-$12||-$12||-$12|
|% of Savings Over Utility||0%||54%||181%|
Net metering is allowed for all solar panel owners in Venice, FL, allowing for a great extra financial incentive.
Net metering is the term given to the process of selling excess solar energy (that your panels generate) back to the grid. The local energy provider will give you retail rate credits for that power that you’ve shared.
So on those sunny days when you’re out and not using much energy, your home will actually be making you money!
On average around 20-40% of solar energy generated goes to the grid. It’s used to power other homes in your area, so you’ll be helping your neighborhood to be greener and cleaner!
Like all of Florida, Venice benefits from various incentives that reduce the costs of investing in solar. There are both state and federal incentives, designed to encourage the growth of the solar industry.
Federal Tax Credits
Installing solar panels in Venice, FL can become more affordable thanks to incentives such as Federal Tax Credits. Our customers regularly save thousands of dollars thanks to this incentive, here’s how:
- 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.
- 30% of your solar installation can qualify and be claimed on your federal income taxes.
- There is no maximum amount that you can claim.
- Rolls over to the next year if needed!
- The current rate of 30% is available until 2033 when it will drop to 26%.
- On a $30,000 solar installation, you would save $9,000!
Read more in our Florida Solar Tax Credits Guide.
Sales Tax Exemption
When buying solar panels in Venice, FL you’ll be exempt from paying the 6% sales tax on the new panels thanks to Florida’s Solar and CHP Sales Tax Exemption.
Property Tax Exemption
Your home’s value could also potentially increase via the 100% property tax exemption.
With this exemption, you may not have to pay for any additional property taxes that would usually be caused by solar panels increasing property value.
Property Value Boost
Another reason why it’s worth going solar in Venice, FL, is the boost to property value.
According to the National Renewable Energy Laboratory (NREL), a home’s value increases by $20 for every $1 saved on energy bills due to solar panels.
For example, if solar panels save you $700 per year then the value of the property increases by $14,000!
In 2021, a report found that 67% of homebuyers considered energy efficiency to be “very to extremely important” in their consideration of buying a property.
Read Related: Can an HOA Stop You From Installing Solar in Florida?
Solar Panel Financing in Venice, FL
When buying solar panels in Venice, FL there are several financing options available.
- Buy the solar panels outright with cash or a loan.
- Home improvement loans or home equity loans.
- Use one of Florida Power Services’ financial plans provided by our partnership with local Solar Financing Companies.
- Choose from 3 financial plans.
- Low, fixed monthly payments and competitive interest rates.
- Own a solar system for no money out of pocket!
What Affects the Costs of a Solar Panel System in Venice, FL?
- System Size: As size increases, so does the total cost. But the average per-unit price for solar decreases with each increase in system size.
- Energy Demands: Solar system size is affected by your energy demands. If you have a property with many appliances and consistent energy demands, then your home will require more solar energy and thus higher costs.
- Your Roof: Your roof may need significant restructuring to hold the solar panels. Most roofs are ready to go, but if not then your costs will increase.
- Battery: Solar batteries are a great option for reducing your dependency on the utility grid. You can choose between a hybrid option or an off-grid option. If you do want a battery, the costs are naturally higher than without.
- Installation Costs: Choosing a reputable company may see an increase in labor rates compared to some others, but will ensure you get a better service, installation turnaround and avoidance of disaster.
Buy Solar Panels in Venice, Florida Today
If you want to buy solar panels in Venice, FL then we can help! From planning to installation, our expert and locally operated solar team can ensure you get a smooth and future-proofed system.
Florida Power Services ‘The Solar Power Company’ is a highly rated, fully certified local solar company that can help you install a dream, rooftop solar system. We also provide financing and plans to give you the best return on investment.
We welcome you to contact us today or call (727) 667-9955 to install solar panels in Tampa. The quote you get will be kept!