Why Florida Homeowners are Going Solar
- Own your electricity instead of renting it. You own your home; why do you rent your electricity?
- Protect yourself against electricity inflation
- Add significant re-sale value to your home
- Earn a safe and solid return on your investment with upside potential
- Make an environmental statement to your community
- Reduce our country's dependence on foreign fuels
Cost Examples for Residential Solar System
The example solar energy systems below are based on receiving the federal solar tax credit.
10,000 Watt System*:
- Total system cost: $35,000
- 30% Federal Tax Credit: $10,500
- Out of pocket system cost: $24,500
- Monthly utility bill savings: $200 (on Gainesville Regional Utilities)
- Taxable equivalent annual return: 15.6%
5,000 Watt System*:
- Total system cost: $17,500
- 30% Federal Tax Credit: $5,250
- Net system cost: $12,250
- Monthly utility bill savings: $100 (on Gainesville Regional Utilities)
- Annual return on investment: 15.6%
* These values are for a typical roof mounted solar electric system installation performing at 85% site efficiency. Price includes equipment, installation, permits, and a web-based monitoring system. Electricity prices are based on current rates for Gainesville Regional Utility customers. Return on investment calculations are based on an assumed 30% federal investment tax credit, a 28% federal tax bracket and a 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.