FPL’s Proposed Rate Increases: A Call to Embrace Solar Energy

FPL’s New Rate Hike: How to Protect Yourself with Solar

Florida Power & Light (FPL) has officially filed for a new four-year rate plan, and if approved, it will mean higher electricity bills for residential and business customers across the state. The proposed increases, set to take effect from 2026 through 2029, will see a typical 1,000-kilowatt-hour residential bill rise from $134.14 to $151.99—an increase of nearly $18 per month by the end of the plan. For businesses, annual increases are expected to range from 1% to 5% per year.

Rate Increases are Front Loaded

One key takeaway from this proposal is that the biggest increases come in the first two years, followed by smaller jumps in 2028 and 2029. Here’s how the increases break down:

• 2026: 6.14% increase
• 2027: 4.16% increase
• 2028: 1.11% increase
• 2029: 1.37% increase

On average, the annual increase over the four-year period is 3.19% per year, but the majority of the impact will be felt early on.

What Does This Mean for You?

Simply put, your electricity bill is going up, and there’s no guarantee it will stop there. With increasing demand and infrastructure costs, FPL is passing expenses onto customers. Storm resilience has also increased the cost of providing reliable power delivery. If history is any guide, these rates will continue climbing beyond 2029.

According to data from the Energy Information Administration, the average growth rate of electric utility retail prices in Florida has been approximately 2.16% per year. The recent trend has been higher rate hikes. In fact, in October 2021, the Florida Public Service Commission approved the largest rate increase in FPL’s history.

Solar Panels: A Smart Hedge Against Rising Utility Costs

If you’re tired of seeing your electric bill climb every year, there’s a way to take control—solar energy. Installing a solar system allows homeowners and businesses to produce their own electricity, reducing dependence on the grid and protecting against future rate hikes. Here’s how:

1. Lock in Your Energy Costs

When you install solar, you offset a portion (or even all) of your electricity consumption, effectively locking in a stable cost for your energy. Unlike utility rates that fluctuate, solar panels generate free electricity once installed.

2. Maximize Savings with Net Metering

Florida still offers net metering, which means you can send excess power back to the grid in exchange for credits, further lowering your bill. With FPL’s rates set to increase, the value of each kilowatt-hour you produce becomes even more beneficial.

3. Incentives and Tax Credits Help Lower Costs

The federal solar investment tax credit (ITC) allows you to deduct a significant percentage of your solar installation costs from your taxes. Florida also provides exemptions on sales tax and property tax increases due to solar installations, making it an even more attractive investment.

4. Energy Independence and Long-Term ROI

Rather than paying more to FPL year after year, investing in solar panels provides long-term savings and increases your home or business’s value. Over time, the system pays for itself, and you’ll have decades of low-cost energy.

Act Now Before Rates Go Even Higher

With FPL proposing rate hikes and utility costs expected to keep rising, now is the perfect time to make the switch to solar. By taking action before these changes take effect, you can secure predictable, lower energy costs and protect your financial future.

Ready to take control of your energy bills? Contact us today for a free consultation and see how solar can work for your home or business.