State Solar Panel Incentive Florida

Florida s solar and chp sales tax exemption 5 is a welcome addition to the other incentives available in the sunshine state.

State solar panel incentive florida.

As a result you can reduce the net cost of your solar panel system by anywhere from 26 to 50 percent. That means the policies in florida against third party ownership of solar panels aren t contributing to industry growth in florida. Those people are moving to florida to sell the systems. Solar renewable energy credits srecs are a solar incentive designed to encourage solar adoption.

Financing falls apart or rates change ruining cost calculations. 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. The 2006 florida renewable energy technologies and energy efficiency act signed into law on june 19 2006 provides consumers with rebates and tax credits for photovoltaic systems.

Srecs are created when a state passes a renewable portfolio standard rps. 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. 6 federal solar tax credit. At this time florida has no rps and no solar electricity targets.

The tax break reduces. As a result florida does not currently have a viable srec market. Florida only recently changed laws so solar panel roofs could be sold by third parties other than the utilities. The sunshine state has seen a recent boom in solar panel installations as more homeowners become aware of the huge savings solar energy offers.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. 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. The purchase of photovoltaic systems covered under the florida renewable energy technologies and energy efficiency act qualifies the consumer to receive a substantial rebate. To encourage the continued expansion of solar governments utilities and other organizations offer solar tax breaks and financial incentives to make solar more accessible for today s homeowners.

Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. Known as the property tax abatement for renewable energy property the state incentive provides an exemption of 100 percent on property tax for residential properties with a renewable energy system. So scams have not reached the volume they did in california and arizona years ago.