· In Florida, an average 10kW solar electric system will generate about $200 per month in savings.
· Each solar system has several unique variables affecting average system returns, which can range from between a 7 and 9 year return on investment and an average annual rate of return between 9% and 11%.
· The federal government offers a 26% investment tax credit which steps down to 22% in 2023, and then expires completely. It is important to note that this is a tax credit, not a tax deduction. A tax credit comes directly off of your total taxes owed, while a tax deduction only reduces your taxable income. Ask your tax advisor how this affects you.
· The levelized cost electricity that results in a predictable solar system can serve as an effective hedge against rising energy cost as well as a hedge against inflation and the buying power of a dollar.
· Solar systems have proven to have a significant impact on the resale value of a home. Average solar systems add a minimum of $15,000 to $18,000 to a home’s resale value, with larger systems and battery systems adding much more to the resale value.