Florida Solar Incentives, Tax Credits, and Rebates

Florida Solar Power

Solar power accounts for over 7% of Florida's total electricity generation, which is more than double the national average! The growing popularity of solar power in Florida comes as no surprise given all of the benefits. Not only is solar energy environmentally friendly, but it is also a cost-effective alternative to traditional energy sources.

 

By going solar in Florida, you can save between 43% - 63% on your electricity bills while reducing your carbon footprint and contributing to a cleaner environment!

 

Florida's Solar Tax Credit

The Solar Investment Tax Credit (ITC) in Florida is a federal incentive designed to promote solar energy adoption. It offers a tax credit of 30% of the total cost of going solar for Florida homeowners. This credit helps offset the upfront expenses of installing solar panels, making solar energy more affordable.

 

To qualify, the system must be operational before the end of the tax year in which the credit is claimed. It's important to consult with a tax professional to ensure eligibility and proper claiming of the credit on your tax return. The ITC has been instrumental in driving solar energy growth and contributes to a cleaner and more sustainable future in Florida.

 

Curious about going solar without breaking the bank? We've got you covered!  Check out our complete guide on Florida No Cost Solar Programs to discover how you can harness the sun's power with little to no upfront costs.

 

How Florida Solar Net Metering Works

In Florida, solar net metering is a program that enables solar panel owners to sell the excess energy they generate back to the grid. Through net metering, a special meter tracks the amount of solar energy you provide to the grid, and you receive credits for it. These credits, known as Solar Renewable Energy Credits (SRECs), can be used to offset your monthly energy costs or even sold for a profit.

 

The program allows you to maximize your return on investment with solar, by reducing your reliance on the grid and potentially earning income from your solar panels.

 

Read our complete guide to learn more about Florida Solar Net Metering and how it can supercharge your solar savings.

 

Solar Property Tax Exemption

One of the most-liked Florida solar incentives is solar property tax exemption. Also called the Property Tax Abatement for Renewable Energy Property incentive. Since a solar system on a home can raise the taxable value by as much as 5%, this provides a big tax relief.

 

So you can enjoy the benefit of a higher property value, without the extra taxes!

 

Solar Sales Tax Exemption

Florida also provides solar sales tax exemption. This is an instant 6% savings on your solar panels compared to neighboring states. This includes the cost of solar panels in Florida, solar batteries, and the cost to install solar panels in Florida.

 

Solar PACE Programs

The Florida PACE (Property Assessed Clean Energy) program is a financing option that allows homeowners to install solar panels and make energy improvements without any upfront costs. The cost of the solar system and installations are tied to the property, not the individual, and are paid back over time through an assessment added to the property's tax bill.

 

PACE financing covers 100% of the project costs, and repayment can be spread out over a long period, often up to 20 years. This program makes it easier and more affordable for Florida homeowners to adopt solar energy and enhance energy efficiency.

 

Florida Solar Rebates

Florida offers solar rebates to encourage the use of solar energy systems. The Boynton Beach Energy Edge Rebate Program provides a $1,500 rebate for solar system installation per property, available on a first-come, first-served basis every 10 years.

 

Similarly, the Dunedin Solar Energy Rebate Grant Program offers Dunedin residents a cash-back grant of $0.25 per watt of solar power generated, up to a maximum rebate of $2,500, also on a first-come, first-served basis.

 

These rebate programs aim to make solar panel installation more affordable and accessible for homeowners. By taking advantage of these rebates, residents can reduce their upfront costs and contribute to a greener future while enjoying the benefits of solar energy, such as lower electricity bills.