TALLAHASSEE, FL—Now that over a trillion dollars has been invested in renewable energy worldwide, a new survey studying solar power use found that Florida is one of the best states for encouraging residential solar power.
In other words, the Sunshine State deserves its name.
Conducted by ElectricityRates.com, the report aimed to find the biggest challenges homeowners encounter when considering solar power usage, and which states are most amenable to the clean energy source. Florida ranks in the top 28% nationally for solar power.
Florida is among eleven states that fully exempt both property and sales tax for solar energy systems. States like Tennessee, Ohio, New York, Massachusetts, and Iowa do the same, but with various time or place restrictions. It also, the study highlights, offers a Property Assessed Clean Financing (PACE) loan that can help cover the initial cost of a solar energy system installation, which is around $2.57 per watt (the cheapest is Texas at $0.48 per watt and the most expensive is Montana at $4.37 per watt).
Additionally, Florida offers a Solar and Energy Loan Fund (SELF) which could provide a solar panel upgrade, and some electric companies have net metering available. The Florida Public Service Commission maintains a list of the state's utility companies with a net metering program.
As the planet warms and cries for the abolition of carbon-exuding fossil fuels increase, the idea of renewable energies—such as nuclear, solar, wind, and hydraulic power—has become more popular. According to BloombergNEF, global new investment in renewable energy leaped to $358 billion in the first six months of 2023, a 22% rise compared to the same period the year before. Of that, solar made up the largest portion with $239 billion in investments; a 43% rise compared to the same period the year before.
However, China was responsible for the lion's share of the investments: the Red Dragon nation accounted for roughly half of all large and small-scale solar investments compared to the United States, which placed in a distant second.
ElectricityRates' study hopes to raise those numbers as it analyzes the various push and pull factors facing homeowners on solar energy. They found that 50% of surveyed baby boomers are unaware of local solar-incentive programs, high installation costs deter 3 out of 4 potential adopters, and 53% are concerned about maintenance costs.
On the other hand, 80% of the respondents see cost savings as the biggest draw for consumers when it comes to solar power and 58% believe solar power increases property value.
In 2022, Gov. Ron DeSantis vetoed an unpopular rooftop solar bill that pro-solar organizations said would have added a "financial crunch" to Floridians. One Sachs Media poll found that just 3% of Florida voters supported the measure.
