When your home starts generating solar photovoltaic power, you'll see immediate savings on your electric bills, and significantly reduce your carbon footprint using clean, renewable energy from the sun.
Why Florida Homeowners across the Gainesville area are Going Solar
- Own your electricity instead of renting it. You own your home; why do you rent your electricity?
- Protect yourself against rising electricity bills
- Add significant re-sale value to your home
- Earn a safe and solid return on your solar investment with upside potential
- Make an environmental statement to your community and reduce your carbon footprint
- Reduce our country's dependence on foreign fuels
How much does a Residential Solar Energy System Cost?
The example solar electric systems below are based on receiving the federal solar tax credit (Investment Tax Credit). Solar Impact tip: Install in 2020 to receive a 26% solar tax credit before the tax credit reduces again in 2021 and elminated in 2022!
10,000 Watt System*:
- Total system cost: $29,000
- 26% Federal Solar Tax Credit: $7,540
- Out of pocket system cost: $21,460
- Monthly utility bill savings: $167 (on Gainesville Regional Utilities)
- Taxable equivalent annual return: 14.4%
5,000 Watt System*:
- Total system cost: $15,500
- 26% Federal Solar Tax Credit: $4,030
- Net system cost: $11,470
- Monthly utility bill savings: $100 (on Gainesville Regional Utilities)
- Annual return on investment: 13.4%
* These values are for a typical roof mounted solar panel electric system installation performing at 85% site efficiency. Price includes equipment (solar panels, inverters, etc), solar installation, permits, and a web-based solar monitoring system. Electricity prices are based on current rates for Gainesville Regional Utility customers. Return on investment calculations are based on an assumed 26% federal investment tax credit, a 25% federal tax bracket and a 3.4% annual inflation rate for electricity prices and are for illustrative purposes only. We recommend that any financial calculations be reviewed by a qualified accountant or financial adviser.