Florida

Florida Solar Incentives and Rebates

Florida is a state that is known for its sunny climate and abundance of sunlight, making it an ideal location for solar energy production. In order to promote the use of solar energy in the state, Florida offers a variety of solar incentives and rebates for both residential and commercial property owners.

The Federal Investment Tax Credit in Florida

The Federal Investment Tax Credit (ITC) is a 30% tax credit that can be claimed on the federal income tax return for the cost of a solar energy system. This credit applies to both residential and commercial properties and is available for systems placed in service before December 31, 2023. After that date, the credit will gradually decrease.

State-Level Tax Incentives in Florida

Florida does not offer any state-level incentives. The Florida Renewable Energy Tax Incentives was closed in 2015 and the Office of Energy is no longer accepting applications. However, the state does offer a few other incentives that can help property owners save money on their solar installation.

State-Wide Solar Initiatives in Florida

Florida does not currently have any active state-wide solar initiatives. The Florida Renewable Energy Tax Incentives program, which provided rebates for solar energy systems, was closed in 2015, and the Office of Energy is no longer accepting applications. This program offered rebates for both residential and commercial property owners who installed solar energy systems, but it is currently not active.

Property owners in Florida mainly rely on the Federal Investment Tax Credit and the state-wide sales tax exemption to save money on the cost of their solar installation.

State-Wide Tax Exemptions in Florida

One such incentive is the state-wide sales tax exemption for new home solar installations. When you buy a new rooftop solar system in Florida, you won’t pay any state sales tax. The exemption is for 100% of the state sales tax, which can save property owners a significant amount of money on the cost of their solar installation.

Solar Easements in Florida

Florida law allows for the creation of easements for the purpose of maintaining exposure of a solar energy system to sunlight. Easements must be created in writing, and recorded and indexed in the same manner as any other instrument affecting the title to real property. This means that property owners can legally protect their solar panels from shading caused by neighboring buildings or trees.

Net Metering in Florida

Once a solar energy system is installed, it begins to generate electricity. In Florida, the power generated by solar panels is credited through a process called net metering. Under net metering, any excess electricity generated by the solar panels is sent back to the grid and credited to the property owner’s account. This credit can then be used to offset the cost of electricity consumed from the grid at other times.

Benefits of Going Solar in Florida

Installing a solar energy system in Florida can bring many benefits to property owners. One of the most obvious benefits is the reduced electricity bills, as the property owner will be generating their own electricity. Additionally, solar energy systems can also increase property value and improve home resale value. Furthermore, there are tax incentives available to help property owners save money on the cost of their solar installation.

Conclusion

Florida offers a variety of solar incentives and rebates for both residential and commercial property owners, including the Federal Investment Tax Credit, state-wide sales tax exemptions, and laws on solar easements. Additionally, net metering allows property owners to receive credit for any excess electricity generated by their solar panels. With its abundance of sunlight and these incentives, going solar in Florida is a smart choice for property owners looking to save money on their electricity bills and increase the value of their property.

FAQs

Solar energy in Florida offers several benefits, including reduced electricity costs, reduced environmental impact, and increased energy independence.

The cost of installing a solar system in Florida varies depending on the size of the system and the specific location. Generally, it costs between $12,000 and $20,000 to install a solar system in Florida. Find out more at SolarEmpower.

Yes, there are several state and federal tax incentives available to help reduce the cost of installing a solar system in Florida.

The amount of energy a solar system in Florida can generate depends on the size of the system and the amount of sunlight the location receives. Generally, a solar system in Florida can generate between 4 and 6 kilowatts of energy.

The time it takes for a solar system in Florida to pay for itself depends on the size of the system and the specific location. Generally, it takes between 5 and 10 years for a solar system in Florida to pay for itself. View expert reviews of solar companies in your area at SolarEmpower.