Today I received a call from a solar installer in San Diego, CA who was interested in the Florida solar market. He asked me how we make solar work in Florida? I said I didn’t know what he meant (we’re crazy busy).
Everyone has heard that Florida is the next big solar market and they’re all trying to figure out how to get in on the action. Lots of companies from CA are making their way over here. This gentleman was mostly wondering how we make it work with our “low” electricity rates. He went on to tell me the rates in San Diego have reached $0.67/kWh on-peak and ~$0.43/kWh off-peak – they have Time Of Use (TOU) tiered rates in his location. For perspective, our rates in FL are creeping up to only $0.13/kWh.
So it obviously makes sense in CA, but how does it make sense in FL?
Simple answer – solar energy is cheaper than the grid, no matter where you live. Even if you’re paying $0.13/kWh here in FL, a solar panel system will produce energy for you as low as $0.06/kWh. That’s instant savings on your electricity costs – and the good news is that it lasts 25 years or more. Some companies (like this one) will even guarantee the production of your solar panels for 10 years or more. So you can’t lose!
Yes, solar costs money and you need to be ready to make the purchase if you want to see the savings. But solar is so popular now (especially in FL), that you can pay for it in a number of different ways (example: zero down financing). You didn’t buy your car all cash did you? The big difference is that this car (solar) literally pays for itself everyday, forever! FYI, solar equipment has 25-year warranties.
Imagine building a your own gasoline refinery in your backyard and getting a 50% discount on gas. You obviously have to pay for the refinery equipment, but it immediately starts paying you right back. Think about it.