FPL SolarTogether Falls Short on Providing a Path to Energy Independency
This is a great program to support the growth of Solar Energy in FL, but it does not give you a path to energy independence and keeps you from the much greater savings you get by producing your own electricity.
This is FPL’s response to slow down the loss of hundreds of its customers to technology, market forces and social responsibility trends. Hundreds of people every day are moving to produce their own electricity instead of renting it from FPL.
Key points about this program:
1. You must pay a monthly subscription charge to enroll in the program. The charge is fixed, and it is charged per Kilowatt of Solar you sign up for.
$8-10 per month per household on average.
This is a strategy from FPL to use that subscription charge to subsidize their solar farms
FPL is the one getting the tax credit the Federal government gives homeowners who install solar since it is FPL the one that owns the solar system and not the consumer. The 26% tax credit goes to them
A very smart approach on their part!
2. If your monthly bill, as an example is $200 per month, and you sign up to get 100% of your electricity coming from solar, 30 years later you will be saving about $29 per month according to their calculation engine on their site and you will still have an electric bill !
3. Enrolling in their solar together program will have no impact on your existing electric rate structure, time-of-use charges and/or demand charges.
Consumers will still be subject to the yearly inflation FPL rates which range between 4-5% on average. A $200 bill today will be $255 in 5 years, $326 in 10 years, $531 in 20 years. The power of compounding!
4. When can I expect to see the FPL SolarTogether program lower my monthly FPL bill?
FPL expects that customers will see an increase in their monthly FPL bill before they realize a net bill reduction within 5 years. Within 7 years customers will see a break- even point at which their total subscription credits received are more than your total subscription charges.
7 years later the savings are minimum while you are still “renting” your energy from FPL instead of being on your path to energy independence
A much better approach is to pay yourself first. Produce your own energy. Use the savings you realize when you produce your won energy to pay for the system with zero money down and money left to spare from month one of installation and be on your way to energy independence.
If you equip your system with batteries, you can always have power even when FPL is out as long as the sun comes up in the morning 😊
We are just saying…. really do your research if you are considering solar for the savings or to support clean energy alternatives or both🌞