Let’s look at a comparison of the cost of energy produced by a single 400W solar panel installed in sunny Florida versus the cost of that same amount of energy purchased from your local power company:
| Power Company | Solar Panel | |
| Panel Size | — | 400 W |
| 1st Year Production (FL) | — | 621 kWh |
| Degradation (Annual) | — | -0.55% |
| 25Yr Production/Consumption | 9723 kWh | 9723 kWh |
| Today’s Rate | $0.12/kWh | — |
| Rate Escalation (Annual) | +4% | — |
| Gross Cost (Installed) | — | $1200 |
| 30% Tax Credit | — | ($360) |
| Net Cost | $1945 | $840 |
| Cost of Energy (25-Year) | $0.200/kWh | $0.086/kWh |
Utility Rates vary by provider but some of the major providers in FL have the following starting residential rates (including base, fuel costs, adders, etc):
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- Duke (RS-1): $0.1544/kWh
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- GRU (R): $0.1467/kWh
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- FPL (RS-1): $0.1227/kWh
As you can tell, even at a moderately-high $3/Watt price (we charge less) and with panel degradation factored in, the energy produced by solar is significantly cheaper in the long run than power that you purchase from your utility company. That translates to huge savings over time.
And as a huge added benefit to solar, you own the system. You bought your home instead of renting, so why continue to rent your energy production?
If you’re interested in learning more about what a system looks like for your home, call or text me at 352-559-9665 and let’s chat.
-Martin @ Solarvironment
