Incentives, Tax Credits, And Other Rebates
Net Metering
Tax Exemptions
Solar Tax Credit
Solar Incentives
Solar panel prices have fallen dramatically in recent years, allowing solar panels to be more available to both customers and company owners. The total amount paid by suppliers of renewable electricity companies is the lowest it’s ever been, with cash-bought systems at just $2.70 per watt and $3.01 per watt for renewable-specific loans received from the contractor.
Federal tax credit and other green incentives (such as deductions from income tax) make residential solar panel systems appealing, given low energy costs.
Net Metering
Power utilities are mandated by the Florida Public Service Board, also known as the FPSC, to have their customers full net metering of 1-to-1. What does it mean? Florida law mandates utilities to pay you the maximum retail value for each solar power unit you produce.
Tax Exemptions
Florida provides two tax deductions for solar systems: one exemption from income tax and one deduction in property tax. Solar energy installations are excluded from Florida sales tax and consumption tax under the Solar and CHP sales tax exemption. The Clean Energy Property Tax Abatement exempts the property tax from the appraised valuation of a solar array.
Solar Tax Credit
Solar tax credit is a financial reward for adding it on solar installations. The credit helps the cost of building a solar panel system to be deductible from the taxes by 26 per cent. The tax credit is non-refundable, ensuring you can only get a rebate of income taxes up to the amount you owe.