Solar Panels Florida Incentives

First you earn a 7 484 federal solar tax credit.

Solar panels florida incentives. This generous rebate effectively knocks off 26 percent of the cost of your new solar energy system right off the bat as a credit on your income tax. The combination of federal incentives and utility programs alongside florida s property assessed clean energy pace program has made solar more affordable than ever before. Over 25 years your florida solar panels will save you an estimated 61 261 on your electric bills. 6 federal solar tax credit.

That means you can pocket the extra 6 state sales tax you would normally pay when you buy a home solar system and battery. In addition to florida s net metering policy and tax exemptions to encourage solar energy the federal government gives you another huge incentive known as the investment tax credit itc. Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. At this time florida has no rps and no solar electricity targets.

The sunshine state has seen a recent boom in solar panel installations as more homeowners become aware of the huge savings solar energy offers. Solar sales tax exemption florida s solar and chp sales tax exemption 5 is a welcome addition to the other incentives available in the sunshine state. As a result florida does not currently have a viable srec market. That means the policies in florida against third party ownership of solar panels aren t contributing to industry growth in florida.

Srecs are created when a state passes a renewable portfolio standard rps. The total net savings from solar in florida bill savings and incentives minus up front cost is 39 960.