Solar power in New Port Richey, Florida
With either Duke Energy Progress Withlacoochee Electric Coop you are eligible for a great net metering plan.
Furthemore, a large percentage of the total system cost — 26% in 2020, and 22% in 2021 — can also be claimed as a reduction to your federal taxes. The federal solar tax credit can be used in parts over several years or all within the same year and has no cap on system price or size.
Incentives available in New Port Richey make solar an obvious choice for a home investment. Even if you still aren't sure, get a free estimate by entering your address into our calculator..
Net Metering Broken Down
Net metering credits surplus energy from your solar system sent to the grid at the retail value canceling the cost of the same amount of energy drawn from the grid at a later time.
When in a billing month more energy is exported than imported credit is still given at retail value and can be applied to future bills within the same 12 month billing cycle. Remaining credit at the end of the 12 months is deposited into your account at the avoided cost rate.
The average cost of installing residential solar panels in New Port Richey,
Florida in 2024 is
$2.65 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in New Port Richey, FL
is $13,250.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Florida is only 1081kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The New Port Richey solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Florida solar savings calculator can do this because it contains a database of the electric rates charged by Duke Energy Florida, Sumter Electric Coop Inc, Tampa Electric Co, Withlacoochee River Elec Coop
How much can solar panels save you in New Port Richey
What does the cost of a real solar system look like?
Facts about installing a 12.49kW solar system in New Port Richey, FL
This system would offset 100% of your energy usage if your typical monthly bill is $225, however your situation may vary so try our New Port Richey solar calculator to get a result tailored to you.
$22,644
Net cost of system
7 Years 3 Months
Average payback time
17,307 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
28¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 12.49kW system
Life-time savings on this system over the next 25 years
$87,418
(Prices shown after repayments of capital)
37
Solar companies in New Port Richey, FL that provide pricing through the SolarEstimate marketplace.
Average total cost of solar panel installation in New Port Richey
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,216 | $6,713 |
| 4kw | $8,140 | $8,791 |
| 5kw | $9,990 | $10,789 |
| 6kw | $11,766 | $12,707 |
| 7kw | $13,468 | $14,545 |
| 8kw | $15,096 | $16,304 |
| 9kw | $16,650 | $17,982 |
| 10kw | $18,130 | $19,580 |
Find out what system size you need for your home
Going solar in Florida
Check out all of the ways energy providers of Florida can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Solar and CHP Sales Tax Exemption | State | Sales Tax Incentive |
| Property Tax Abatement for Renewable Energy Property | State | Property Tax Incentive |
| PACE Loans | State | Loan Program |
| SELF Loans | State | Loan Program |
| Net Metering | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
