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Florida Power & Light Vs. Solar – What You Need to Know

Posted on March 23, 2022 in Solar by kcoughlin

Florida Power & Light (FPL) is the only electrical power company available to residents in South Florida, with the exception of a few townships. Having electricity in your home is a non negotiable, with the harsh South Florida weather conditions, we all need our AC, not to mention a working fridge and other necessities. This is where solar energy comes into play. Solar energy gives you an opportunity to have more control over where your money is going. We’ll dive deeper into that in this blog.

The Issue with Florida Power & Light.

As mentioned, FPL is the monopoly when it comes to utilities in South Florida.

When you pay FPL, you are renting your electricity, with no money coming back to you, and no end date in sight.
You will continue to pay FPL for the duration of your life.
FPL rates are slated to rise significantly over the next few years.

According to the Palm Beach Post article linked above which was published in the beginning of 2022: “Florida Power & Light customers who paid $101.70 last year for a typical monthly bill of 1,000 kilowatt hours of electricity will now be charged $120.67.”

And, that is only 2022. The rates have been approved to continue to rise over the next few years.

What Would You Rather? Pay Florida Power & Light, or Put Money Back in Your Own Pocket?

If the information above is making you wonder how you can get away from FPL’s grip, we have a solution for you. That solution is solar. Powered by the sun, solar panels produce their own energy for your home. This energy is produced rain or shine, with better production in direct sunlight. Luckily in South Florida, sunshine is abundant. However there is no need to worry about rainy days, enough energy is still produced to power your electrical needs.

You may be wondering how solar will help you save money. After all, a common misconception is that solar panels cost a lot of money, and they can. However, there are various ways to pay for your solar installation that are very cost effective and affordable.

Bison offers no money down financing for solar installation through Ygrene and other options. Some customers often find that by financing solar panels, the monthly amount due is actually less than what they pay to FPL. Not only that, but you are locked in at that rate for the duration of your financing agreement. No surprise bills or rate hikes here! And, you can put the money saved each month back in your own pocket.
Ygene actually provides loans based on your home value, not your credit score. So, if you want to go solar but don’t have great credit – no worries! We have a solution for you.
You can choose to pay a portion of the cost of your solar panels up front, or the whole cost in full. If that is the case, you could only owe a minor connection fee to Florida Power & Light, assuming you don’t use an unusually high amount of electricity.

If you are wondering about the cost of solar panels, you aren’t alone. You can read more about that in our blog: How Much Do Solar Panels Cost. In summary, the price is completely dependent on your home and your energy usage. Bison is one of the only solar companies in South Florida that does a site visit of your home prior to discussing price. We do this to make sure your roof is compatible and in good condition for solar and so that we can get you the most accurate price in the market.

No two homes are the same. When we give you a free, no obligation solar estimate, it is entirely customized based on information you provide to us and your kilowatt usage. With FPL being the only solution for electricity in South Florida, the way to avoid paying astronomical prices is by going solar. And, the sooner you act the better, as prices are continuing to rise.