A lot of what we’ll describe here will be handled by your solar installer, but it’s still good information to keep in the back of your mind during the solar process. There’s quite a bit of work (and paperwork) that goes into getting a solar panel system up and running safely. Going solar isn’t as easy as installing solar panels and calling it a day. Steps to going solar with Florida Power and Light The solar tax credit covers 26% of the costs of installing a solar system. However, Florida residents can still take advantage of the federal solar tax credit as long as they have a taxable income.
No, Florida Power and Light do not offer any rebates or incentives for homeowners going solar. Does FPL have any solar rebates or incentives?
Depending on your rate schedule, there may be other charges that cannot be covered by your solar generation. FPL has a minimum bill requirement of $8.34 that cannot be offset, no matter how much solar electricity you produce. It's important to keep in mind that your solar panels won't be able to cover all of your electric bills. Then your net metering credit bank will be reset to zero. The annual cost of generation is substantially lower than the retail rate of electricity, usually between $0.02 and $0.03 per kWh for FPL. If you have any excess net metering credits at the time of your true-up, FPL will pay you out at the “average annual cost of generation” per kWh. The annual true-up adjusts for the differences between these estimated numbers and your actual consumption and production. Sometimes, utility companies will use estimated numbers for your usage and production, instead of what is actually on your meter. Annual true-upįPL’s net metering program has an annual true-up in January. If you produced more electricity than you used from the grid, any excess net metering credits will carry over to the following month. These credits can then be used to offset the cost of electricity you use from the grid in the future.Īt the end of the month, FPL will net how much solar electricity you sent to the grid versus how much electricity you used from the grid to find your total bill. If your solar system produces more electricity than your home needs, the solar electricity will be sent to the grid, the bi-directional meter will spin backward, and you’ll receive a credit on your electric bill. The bi-directional meter tracks how much electricity you send and take from the grid, so you can be compensated for your solar energy. When you’re approved for FPL’s net metering program, FPL installs something called a bi-directional meter at your house. You can use our solar panel calculator to get a better idea of what size solar system is right for you.
The location of your home, the utility rate schedule you have, the direction of your roof, and shading are all factors that can influence your home’s system size. The actual system size you need will depend on more than just your monthly bill. *Estimated system size needed to cover monthly bill The following table outlines the average installation costs for different sized solar systems in Florida: Monthly bill
In order to cover a monthly electric bill of $100, you’d need to install around 5.82 kilowatts (kW) of solar in Florida, which would cost about $15,074 before the federal solar investment tax credit (ITC), and $11,155 after. The average homeowner in the Sunshine State can expect to pay about $2.59 per watt of solar installed. If you're looking to go solar, the first thing you probably want to know is "how much is it going to cost?". Show more How much does a solar system cost in Florida?