The SolarTogether program is a program offered by the utility company, Florida Power and Light (FPL). SolarTogether creates opportunities for solar investment in large scale installations. In March, the Florida Public Service Committee agreed to allow FPL’s plan to move forward, allowing FPL to break ground on its $1.8 billion investment in 20 additional solar-power plants. FPL hopes to add 1,490 megawatts of solar capacity. The program is a significant win for solar advocacy groups, and the program will drastically increase solar-power accessibility in Florida. An increase in accessibility will lower the price of solar.
Who Can Participate?
Anyone that owns or rents a home may participate! SolarTogether creates opportunities, incentives, and benefits for investing in solar. The program opens doors to customers, regardless if they have solar equipment installed at all. For a monthly subscription, any Florida resident may take part in the program. People without solar equipment still receive a percentage of their electricity obtained through solar panels as a credit on their utility bill.
According to FPL, the details of the plan are as follows: Your “subscription may only be purchased in 1 kW increments at a fixed cost of $6.76/kW. Your subscription charge will not change for as long as you are in the program. You get billed credits for your share of the solar energy produced with predicted bill reduction within 3-5 years. You break-even by year seven. Break-even is the point at which your total subscription credits received are equal to your total subscription charges..”
Members purchase subscriptions based on usage. The longer members are subscribed to the program, the more they invest in FPL’s SolarTogether plan. The longer they invest, the more credits they receive. On average, the return on investment is seven years.
Is It Worth It?
Yes, of course! You do not need solar equipment to participate in the program. You do not have to own your house, meaning you can rent and participate in SolarTogether too. You subscribe and choose a percentage of how much energy you want to contribute. FPL is hoping the program attracts Florida residents who like saving money and helping their environment.
Residential Installations VS. SolarTogether
SolarTogether is a great stepping stone into solar energy, and the program will benefit many people. However, SolarTogether is not for everyone. Some Florida residents want their own residential solar installation. The significant difference between investing in SolarTogether versus installing a solar system is the ROI. The break-even on SolarTogether is seven years. The break-even on a residential installation can be five years. From an investment standpoint, installing panels is better than SolarTogether if you can afford the installation’s initial start-up costs. Are you interested in learning more about saving money with solar? Contact us for a free consultation at Regionsolar.
“Blog.” Region Solar, 16 Oct. 2020, regionsolar.co/blog/.
“Energy My Way: SolarTogether.” FPL, www.fpl.com/energy-my-way/solar/solartogether-res.html.
Miami, and Jim Saunders. “FPL’s Solar Plan Wins OK despite Opposition from PSC Staff Analysis, Consumer Advocate.” Miamiherald, Miami Herald, www.miamiherald.com/news/business/article240847076.html.
“Solar ROI Calculator: Finding Your Actual Solar Panel Return On Investment.” Sun Badger Solar, 5 Oct. 2020, sunbadger.com/solar-roi-calculator/.