How To Take Advantage Of Florida Solar Incentives
Florida enjoys 237 days of sunshine per year, making it easy to understand why it is known as the Sunshine State. This is not the only reason Floridians go solar. Florida solar incentives can help homeowners switch to solar power. ESD Solar is one of the top residential solar panel companies in Florida. We work to help our clients gain energy independence, reduce their carbon footprint, and take advantage of Florida solar incentives. Let’s look at what Florida solar incentives are available right now.
Federal Solar Investment Tax Credit (ITC).
The Federal Solar Tax Investment Credit allows you to buy and install solar panels in Florida throughout 2021. You can also qualify for the 26% federal tax credit. The residential tax credit will be reduced to 22% by 2023, and it will end in 2024.
Example:
Florida’s average 5-kilowatt system is $17,885 but the system could be $13,235 after taking into account the 26% ITC in 2021.
If you meet these criteria, you may be eligible to receive this tax credit.
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Your PV solar system was installed between Jan 1st, 2006, and Dec 31st, 2023.
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The solar system is located at either your primary or second residence in the U.S.
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The PV system is yours (you bought it with cash, through financing, but you are not leasing).
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The PV solar system is either new or being used in its first use. Only the original installation of solar equipment is eligible for credit.
Solar System Property Tax Exemption
The Solar System Property Tax Exemption means that your property taxes won’t go up if you add a solar system to your Florida residence. This is due to Florida’s Property Tax Abatement For Renewable Energy Property incentives.
A solar panel system can increase your Florida home’s value by as much as 4%.
Home Solar System Sales Tax Exemption
The Home Solar System Sales Tax Exemption will allow you to avoid paying any sales tax when you purchase a rooftop solar panel system. This exemption covers 100% of the cost of a new solar panel system and can help you save 6%.
PACE Program
Florida law allows cities to offer loans to homeowners in order to finance solar power projects or other energy-efficient improvements. These loans are funded by an increase in the property tax of the city.
PACE can assist homeowners in getting solar panels installed and passing on the loan balance to the next owner if the homeowner sells their house. The new owner has the option to either continue paying the loan or get rid of the equipment.
PACE financing may not be available in all areas. Check with your county officials to find out if it’s available in your area.
Florida: Create And Store Solar Energy
You may be eligible for Florida’s federal and state incentives if you choose to go solar. You can get bill credits for the excess power you produce with your solar system thanks to Florida Power & Light (FPL), Duke Energy (DUE), and Tampa Electric Company (TECO).
Participating in a Net Metering program will dramatically accelerate the payback time of your solar panels. You are not only saving money but also “monetizing” the sun that hits your roof each day. This equals additional savings.
Say Yes To Solar
ESD Solar is one of the top solar companies in St Petersburg FL, Tampa, and Sarasota.
Make The Switch With ESD Solar
Working with ESD Solar is an excellent way to maximize the overall value of your home, enjoy these environmental benefits and work at achieving cost savings with your utilities. Our team can offer off-grid solar systems, grid-tied solar systems with backup batteries, on-grid solar systems with net metering, and more. If you’re interested in installing solar panels in St Petersburg FL and you would like the best, we are the team for you! We have successfully installed several megawatts worth of solar power systems across this state. It’s our goal to exceed the expectations of our customers and to ensure that we can deliver an easy experience with exemplary customer service. We offer premium products and we back up all of our labor and our solar panel installations with a 100% satisfaction guarantee. Do not take chances when gambling with solar panel companies in Florida, go straight for the best, ESD Solar, contact us today for more information!
