Solar power installations in Clearwater, FL, have skyrocketed in recent years, with homeowners recognizing the huge financial benefits. Some areas of Florida are more suitable for solar than others. In this guide, we're going to look at whether Clearwater, FL solar is worth it.
How Much Sun Does Clearwater, FL, get?
In terms of annual days of sunshine in Florida, Clearwater and the Tampa Bay area are ranked 3rd. The 'Sunshine State' is ideal for solar panel installations, with the sunny day count rising the further south you go. Clearwater's subtropical climate receives 240 sunny days per year, considerably higher than the U.S. average of 205. Even in the fall and winter, sunny days are standard, so many people travel south to spend their winters there.
Clearwater, FL solar power has an estimated 44 percent higher energy output than the rest of the U.S.
How Much Do Clearwater Solar Installations Cost?
Like the rest of Florida, Solar in Clearwater is the most inexpensive in the U.S. As of June 2020, solar installation in Clearwater, FL, costs around $10,000-$20,000 with the average at around $12,000. That's roughly $2.70/watt. For most people, that's a lot of money. Thankfully Florida offers a range of incentives and chances to save thousands of dollars.
Average Solar Panel Cost in Clearwater Florida
System Cost (after Tax Credits Incentive)
How Much Money Can Solar in Clearwater, FL Save?
Savings for solar in Clearwater can be huge. If your average current electricity bill is $200, then over the next 25 years, you would be paying the power company $103,062 (taking into account an inflation rate of 4%). Ouch. Go solar, however, and you'll pay just $11 a month. Factor in Net Metering and the savings could be life-changing. Clearwater, FL, ranks at the top for energy bill savings in the U.S.
How Long Will It Take Clearwater Solar to Pay for Itself?
On average, Clearwater solar costs take around 8-10 years to pay for themselves. That may seem like a long time, but after this, you'll be gaining money compared to your current energy bill. The following factors will also affect the rate of covering costs:
- Your electricity usage
- The size of your solar system
- How much power you use during the day
- Your electric rate plan
Property Value Increase
Research suggests that on average, Clearwater, FL homes rise by 4% in value. That's over $9,400 for the average-valued home. Depending on your solar system's features and size, you could gain even more. Property buyers are likely to be willing to pay more for a property with solar already installed, knowing the benefits.
What Solar Incentives Are Available in Clearwater, FL?
Federal Solar Tax Credits
Federal Solar Tax Credits have saved property owners thousands of dollars for solar installations in Clearwater, FL. The federal incentive allows taxpayers to claim 26% of their solar costs as a deduction on their next income taxes. That makes it effectively a 26% reduction for solar installation. The 26% covers all installation costs, including labor and equipment.
Sadly, 2020 is the final chance to receive 26% reductions. In 2021, it will be just 22%. From 2022 onwards, it will be 0%. 2020 is the last chance to save 26%, so act fast.
How Do I Apply for Solar Tax Credits?
After you've started your Clearwater solar installation you need to:
- Fill out the IRS Form 5965
- Add the Tax Credits to Form 1040
PACE Financing in Clearwater, FL
PACE Financing (Property Assessed Clean Energy Financing) is an incentive that funds upfront costs of solar in Clearwater, FL. The payment must be repaid over time through property taxes. PACE Financing is designed to promote clean energy by helping those who would normally be unable to afford it.
Unlike loans, the "debt" is tied to the property rather than the owner. That means you can move without having the debt tied to you. In most cases, you have 20-30 years to repay the funds. Clearwater and Tampa are included in the 60 cities in Florida that offer PACE Financing for solar installations.
Net Metering is your chance to make money from your solar panels. It's arguably the best incentive for Clearwater solar. It will help you cover your installation costs rapidly.
Net Metering records how much excess energy your solar panels feedback to the grid and how much you buy from the grid. The difference is then calculated, usually reducing your energy bill significantly or ideally, making money! By Florida law, utilities must pay you the full retail value for each unit of solar power you give to the grid.
Clearwater, FL Solar on Property Tax Bills
Solar installations add substantial value to your property. That's great news for when you want to sell it. You will also be exempt from paying tax on the new added value on your property.
Can Solar Panels in Clearwater, FL Withstand Storms?
The warm waters of the Atlantic and the Gulf of Mexico near Clearwater, FL, are perfect conditions for intense tropical storms and even hurricanes. In Florida, the hurricane season is between June 1 to November 30. Although the majority don't make landfall, history suggests they can quite brutally.
Thankfully, the best solar panels are strong enough to withstand Florida's storm season. By state regulations, they must withstand strong winds. The best should withstand strong winds of up to 175MPH. They're also strong enough to deflect debris such as stones and branches. Unless Clearwater suffers one of the strongest storms in history, your panels will be fine.
Statistics About Clearwater, FL
- Population: 116, 946
- Average Owner-Occupied Property Value: $191,600
- Rate of Owner-Occupied Housing: 57.9%
- Average Age: 44.1
- Average Household Income: $44,631
Solar Installation Companies in Clearwater, Florida
If you're looking for a Clearwater solar, then make sure:
- They have 20+ year of experience
- The engineers are certified
- They're a Certified Solar P.V. Installer by The North American Board of Certified Energy Practitioners
- They're a State Certified Solar Contractor
- They're approved by the American National Standards Institute
Florida Power Services "The Solar Power Company"
500 S Belcher Rd
Largo, FL 33771