Florida Solar Power Rebates

Luckily the dual impact of existing incentives and advancements in manufacturing technology means that the cost of solar power in florida has dramatically decreased for the average homeowner.

Florida solar power rebates.

In addition to florida s state solar programs you ll be eligible for the federal solar tax credit if you buy your own home solar system outright. The same goes for rebates. Solar photovoltaic systems are eligible for a 4 watt rebate capped at 20 000 for homes and 100 000 for businesses. The purchase of photovoltaic systems covered under the florida renewable energy technologies and energy efficiency act qualifies the consumer to receive a substantial rebate.

Solar energy system rebates are issued by the commission pursuant to sections 377 801 377 806 florida statutes and chapter 27n 1 florida administrative code contingent upon an annual appropriation by the legislature of the state of florida for the specific purpose of funding solar rebates. 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. Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. 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.

To give you an idea let s say that you buy a system worth 15 000 in 2020. By using this exemption you can reduce the total cost by 900 and maximize your savings on the upfront cost of solar panels. The tax break reduces. If over a 12 month period they generate more power than they use the utility must pay them.

In 2019 the tax credit can reduce the cost of a solar installation by 30 7 including a solar battery purchase. 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. Sadly there s no other state tax credit or rebate for solar in florida. The rebate is based on the manufacturer s power output rating of the modules.

Under the law they must credit customers for net excess generation in a month. Florida s sales tax exemption lets property owners enjoy a saving of 6 percent on the purchase of a new solar energy system.