Are solar panels worth it?

ROYAL PALM BEACH, FLA. - “It's a good incentive that people think that ok, let me negotiate the deal and then by the way, I have this rebate, then in the long term you see, ok it makes sense and this is how many years it's going to take to pay this investment off," said Homeowner Jathynia Garcia.

And with the FPL rebate, it's not that long.

“The average home with four folks living in it, they are going to cut their utility costs by two hundred dollars a month, so this system is going to pay for itself in 3 to 5 years,” said Bill Hoysradt Jr., President of Abundant Energy.

A typical solar energy system may run you 25 thousand dollars with the FPL rebate. But knock $10,000 off that, then the federal government gives you a $7,500 dollar tax credit, leaving you with a much cheaper bill.

Add with financing, you could be spending less per month paying off the equipment, then you pay on your power bill. That is why this program is so popular.

"Within 15 minutes there are enough folks desiring to use solar photo voltaic on their home that they use up the entire amount that FPL funds the program with," said Hoysradt.

The Garcia's were one of the lucky ones to get the rebate before they ran out, and are thrilled at the upcoming savings.

“It accumulates to thousands of dollars at the end of the day," said Garcia.

Now, if you are interested in the solar rebate from FPL, the first thing you have to do is contact a qualified solar contractor. Go to wptv.com and click on the "seen on 5" section for a list of local contractors. You better act quick though, the program opens October 16th

Reporting from Royal Palm Beach James Wieland WPTV Newschannel 5.