Nicknamed the Sunshine State, Florida is one of the most solar-friendly states in the U.S., second only to Texas and California. To promote solar energy adoption, the federal, state, and local governments offer tax credits, rebates, and other incentives. This makes installing solar power more affordable and accessible. Learn more about the different Florida solar incentives available to you so you can save big when you go solar.
Florida State Solar Incentives
Taking advantage of multiple Florida solar incentives can help not only minimize the initial investment but also lower your energy bills. Below are some solar incentives in the state.
Sales Tax Exemptions
Florida law exempts solar energy systems and all related components from the state’s 6% sales tax. The components include panels, inverters, mounting hardware, wiring, solar battery storage, labor, and other accessories necessary for function. This one-time incentive gets applied automatically when you purchase solar equipment.
Property Tax Abatement For Renewable Energy Property
With this incentive, Floridians who make renewable energy improvements are granted a 100% property tax exemption for residential solar panels and any accompanying energy storage units. This means that although installing a solar system may make your home more valuable, your property taxes remain unchanged.
Net Metering
Most Florida residents with solar panels are eligible for net metering. The beneficial program allows you to earn credits for any excess power you generate and sell back to the electric grid. You can then use these credits to offset your electricity bill. There is no set limit to how much solar energy you can sell back to the grid and the billing mechanism allows for one-to-one credit for your solar power.
Local Incentives
At the local level, certain municipalities offer appealing solar incentives that residents can benefit from. These include:
Boynton Beach Energy Edge Rebate Program
This program offers residents of Boynton Beach money back for solar investments. Applicants who make environmentally friendly upgrades to their properties can receive a maximum rebate of $1,500 per property.
Dunedin Solar Energy Rebate Grant Program
With this program, a grant of $0.25 is offered to eligible residents of Dunedin for every watt of solar power they generate, with the amount capped at $2,500. The grants are paid as a reimbursement and are awarded on a first come first served basis, provided funds are available.
Florida Keys Electric Cooperative Solar Loan Program
The solar loan program is offered by Florida Keys Electric Cooperative, a member-owned not-for-profit utility. Under this program, approved members can access loans of up to $35,000 to install solar panels. The loans are competitively priced, have no prepayment penalty, and are payable within 10 years.
Federal Incentives
In addition to the Florida solar incentives above, most residents of the state qualify for financial incentives offered by the federal government. Also known as the Residential Clean Energy Credit, this nationwide incentive offers solar owners a 30% federal tax credit on their total system costs. This reduces your tax liability, effectively enabling you to save money.
Start Saving on Solar Energy
Solar Optimum is an industry leader in everything solar-related. We provide premium solar, battery storage, and roofing solutions for Floridians at an unmatched value. Our services extend throughout Polk County, Hillsborough County, Orange County, the Greater Orlando area, the Greater Tampa area, and Central Florida. Contact us to see how you can make the most of your solar savings today.
