The cost of solar has come down approximately 70% in the past 5 years. More solar manufacturers and market competition have improved prices dramatically for consumers.

We have reached "Grid Parity" where it costs the same to buy a solar system and own your power than it costs to rent your power each month for the utility company. As utility rates rise, your system becomes more and more valuable.

Solar Trek residential PV solar electric systems are typically sold by the watt. As an example, if you were to purchase a 5000-watt system at $3.00 per watt your cost would be $15,000. If you pay income taxes you can enjoy a 26% tax credit on the total cost of the system. On a $15,000 system, the tax credit would be $3,900 making the net cost of your solar electric system $11,100. In 2021, the tax credit will drop to 22%. January 1st of 2023, the tax credit goes to 0% for residential solar installations.

The solar modules, inverters, roof type and other factors determine the price you pay per watt. The average cost of a grid-tied solar electric system is between $2.60 and $3.50 per watt. Inverters and roof types have the biggest impact on price. Solar electric systems have a 25-year warranty and a 35 year plus lifespan. A few thousand dollars over the life of the system will add up to very few dollars annually.

Since Florida utilities have net metering, you get credit for every kWh (kilowatt-hour) your solar electric system produces. For our example, we'll use true net metering at $.125 per kWh

keep your cash.jpg