Florida Solar Power Rebates

The same goes for rebates.

Florida solar power rebates.

Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. 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 purchase of photovoltaic systems covered under the florida renewable energy technologies and energy efficiency act qualifies the consumer to receive a substantial rebate. 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.

8 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. The tax break reduces. 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. 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 rebate is based on the manufacturer s power output rating of the modules. In 2019 the tax credit can reduce the cost of a solar installation by 30 7 including a solar battery purchase. Solar photovoltaic systems are eligible for a 4 watt rebate capped at 20 000 for homes and 100 000 for businesses. Home tax credits rebates savings please visit the database of state incentives for renewables efficiency website dsire for the latest state and federal incentives and 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. To give you an idea let s say that you buy a system worth 15 000 in 2020. Sadly there s no other state tax credit or rebate for solar in florida. As part of the 2006 florida energy act the solar energy systems incentives program offers rebates for individuals or businesses to purchase solar photovoltaic solar thermal and solar thermal pool heating systems.

Under the law they must credit customers for net excess generation in a month. By using this exemption you can reduce the total cost by 900 and maximize your savings on the upfront cost of solar panels.