Are Solar Panels Worth the Investment in Florida?

Solar energy is often marketed as a smart investment, promising reduced electricity bills and increased home value. But for Florida homeowners, is it really worth the cost? After considering installation expenses, return on investment (ROI), and real experiences from homeowners, the answer might not be as clear-cut.

The High Upfront Cost

Even with federal and state incentives, the average cost of installing solar panels in Florida ranges from $15,000 to $25,000. If your roof is older, you may also need to replace it before installing the panels, adding another substantial cost. While financing is an option, it creates complications if you decide to sell your home before paying off the loan.

Homeowner Experience: The Unexpected Expenses

"I thought I was making a smart investment, but I didn't realize my 12-year-old roof wouldn’t qualify for installation. I ended up spending another $10,000 to replace it. It set me back way more than I expected." – Mike R., Orlando, FL

Long-Term ROI vs. Homeownership Duration

The return on investment for solar panels typically takes 7 to 10 years based on energy savings. However, statistics show that the average Florida homeowner moves every 7 to 8 years—meaning many don’t stay in their home long enough to see the full financial benefit.

Homeowner Experience: Not Enough Time to See Savings

"We installed solar panels thinking we’d save money in the long run. But four years later, we had to relocate for work. We barely saved enough to make a dent in the cost. The next owners didn’t want to assume our solar loan, and selling took longer than expected." – Sarah L., Tampa, FL

Selling Challenges with Financed Solar Panels

Approximately 70% of homeowners finance their solar panels, meaning there’s still an outstanding loan when they decide to sell. Most buyers are hesitant to assume the loan, which can lead to longer time on the market and reduced interest in the property.

Homeowner Experience: Difficult Resale Process

"Our house sat on the market for months because buyers didn’t want to take over the solar panel loan. We had to lower our asking price just to get it sold." – David and Melissa G., Miami, FL

Final Verdict: Are Solar Panels Worth It?

For homeowners who plan to stay in their property for over a decade, solar panels can eventually pay off—but only if they can afford the upfront costs or avoid financing complications. However, for the majority of Florida homeowners who relocate within 7-8 years, the challenges of high initial investment, long ROI timeline, and resale complications make solar panels a risky financial decision.

Before committing, consider how long you plan to stay in your home and whether you’re willing to navigate the potential roadblocks of solar financing when selling.