Solar In The Sunshine State
As one of the sunniest states in the USA solar energy is an option that is changing the market for energy across Florida. Solar remains a smart investment for home and business owners that want to enjoy ongoing energy savings. Solar power can significantly reduce your utility bills and it can be a much better alternative for the environment. Here are some of the top reasons so many people are turning to Solar in the sunshine state:
The federal tax credits that are available for residents in the state of Florida are perfect for people who own their own solar panels. Under these federal tax credits, it is possible to deduct costs for the solar panel installation from federal taxes. The federal tax credit works for commercial and residential systems and it allows the property owner to deduct up to 26% of the cost of installation. The credit cannot be applied if you are renting the building and there are IRS forms that need to be completed. The deal is also something that is going away in some time. Energy system owners will be able to deduct the cost at this time but the credits are likely to decrease in 2021 to 10% and then stay at these levels. 2020 remains the best time to install one of these systems and to reap the maximum rewards from the system too.
Incentives From The State
Florida counties also have their own rebate programs. Asking a solar provider about these programs could have you with new tax credits on your installation. These state and county-run programs make sure that clean solar energy can be more accessible in the future and that solar energy is a useful solution at a state level.
New financing options make it more advantageous to consider this technology. As Solar is now a proven system for powering businesses, selling power back to the grid, and powering homes, there are many places throughout Florida where you can finance your solar power so that cost reductions can be made over time. Here are the three types of financing that are most common:
Taking out a bank loan can be an easy way to finance a solar installation. Most banks are more than willing to finance a solar system as this can represent cost savings for your business or home and add value to your property. With a loan, you can install the system for $0 down and then replace the loan with the cost savings on energy.
A solar lease is a popular choice but you will not be able to access the energy tax credits in this way. Under a lease, the panels will be installed and you will be paying a fixed amount for each kWh of the energy that is generated under the system. The price that you pay for power will be considerably less than what you may pay on a traditional grid. There is also no guarantee that your leasing agreement may not change so this will mean that you may not get access to the same low rates as an ongoing solar saving.
Pay In Full
Paying the system outright is the best way to save money. There are no interest rates and all the power and credits that the system is eligible for, immediately work to help you recoup expenses.
Contact us today if you are in need of the best experience with your solar energy installation. We can help you access the best in solar energy improvements for your home or business and make sure that you can achieve your financial savings goals.