For businesses and homeowners, the demand for solar power is increasingly rising in Orange County, according to industry professionals. In the East Coast, Florida is currently the No. 1 solar state. Recently, a solar initiative FL SUN was launched in Sarasota in a bid to make it easier for neighborhoods to understand the affordability of solar technology, and to understand how it works. This is also in a bid to enlighten the neighborhoods of the benefits of negotiating bulk rates by bundling their solar buying capacity.
FL SUN is sponsored by the Barancik Foundation and the Gulf Coast Community Foundation. Donors used this as an option to employ a free-market initiative to assist the area residents in harnessing the power of solar energy and support them in generating free energy in their homes.
In Orange County alone, more than 500 people signed up for neighborhood co-operatives. Through the co-operatives, the neighborhoods are able to use the power of their volume purchases to competitively bid for discounts of up to 25%.
On average, the cost of installation for the neighborhoods is supposed to come down to between $5,000 and $12,000. Upon installation, the residents will expect returns of between 8% and 20%, and a full return in 5 – 7 years.
During the year after the inauguration of the nonprofit FL SUN, at least 7 co-operatives have been established within the state, and a lot more are still to be established over the coming years. Over the coming years, the participating homeowners will experience a significant reduction in their energy bills. Given that the panels are virtually maintenance free and come with a guarantee of at least 25 years, this is a worthwhile investment for homeowners and business owners alike.
With municipalities and counties offering low-interest options for financing, it is much easier for homeowners to gain access to the energy saving plans.