Since the solar industry has been increasing significantly in the last 10 years and the federal, state and local government has started to support the clean energy initiatives, they have established some incentives in order to encourage the greater adoption of solar energy in the country. In this blog you will find the solar incentives in Florida. These incentives take the form of solar rebates, tax benefits and/or performance-based incentives and will help to reduce the cost consumers are paying for solar to a 26% to 50%. To check which of these benefits are applicable to you, go to Database of State Incentives for Renewables & Efficiency for further details.
In the case of Florida, the government has established a total of 73 incentives since 2000. They offer a variety of incentive programs in order to increase the adoption of clean energy and the improvement of energy efficiency which is now available for residential, commercial, industrial purposes (which includes non-profit organizations and government agencies too).
For this article, we are just going to highlight the most important incentives among Florida.
Property Tax Exemption
Normally, when you invest in your house, it will add value to it but at the same time, it will increase your property tax bills. Not with solar. Thankfully, Florida’s Property Tax Exclusion for Residential Renewable Energy Property made the solar energy investment better! Since it won’t be a result of any additional costs on tax day.
Sales Tax Exemption
Due to this tax exemption, you won’t need to pay sales tax when you buy your solar system, which was established thanks to the Solar and CHP Sales Tax Exemption. This will represent a 6% on savings.
The Federal Solar Tax Credit
This one is a federal solar incentive! The Investment Tax Credit (ITC) allows you to reduce the cost of your solar panels by 26%. Although, it is key to understand that this specific benefit applies to the ones who buy their PV system outright (cash or loan).
Taken from: Energy Sage and DSIRE
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