While it may be natural to imagine Florida as the state with the most solar panels due to the amount of sunlight, they are still trying to get enough people to invest in this renewable source of energy. The Go Solar Program offers the Community First Program which pays up to 6 months of solar payments.
This is, of course, partly because installing solar panels has been known to be a considerable investment, even if the past years and the recent developments have turned the tide. With Florida solar power incentives, legislators and green energy advocates are hoping to see more individuals and businesses take advantage of all that sunshine and the free energy it provides.
Luckily for the solar industry of the State of Florida, there are existing laws that make solar power even more attractive. In the past, residents who install solar panels were eligible for a rebate. This has been discontinued, but there are still enough Florida solar power incentives that homeowners and businesses can enjoy.
Top Solar Incentives in Florida
Those who possess solar panels may find out that they produce more energy than they need, and in Florida, it is possible to store this excess in the power grid for others to use. In return, they get credits that may be used when they do not produce and use power from the utility companies. Not only is it great for those who have invested money in their own solar panels, but this also ensures that opting for renewable energy is a financially wise move. If the owner is not able to utilize what they produce, they can “sell” it for credits so someone else may use it.
- Property Tax Exemptions
Residents need not worry that solar panel installation will make their property taxes go through the roof. Because of the Property Tax Exclusion for Residential Renewable Energy Property, this addition to the home will not cost extra.
- Sales Tax Exemption
Customers who are purchasing their new solar energy system will also be exempt from paying sales tax to the tune of 6%. This is even another reason why investing in one will not cost individuals and companies as much as it used to. Plus, if a property has solar panels installed, this eventually equates to higher property estimates.
- The Federal Solar Tax Credit
Another big plus to investing in solar energy in Florida is the possibility of getting back 30% of the cost through the Federal Solar Tax Credit. This credit can be used in income tax payments, with the chance of using excess amounts in the years to come. The only requirements are that the property should be used as a residence, that the individual earns enough income, and that the system is purchased with cash or a loan. All expenses, including equipment and labor costs, are included.
The goal, of course, is that more and more people adopt renewable energies like solar power. Thanks to the Florida solar power incentives, many residents will feel encouraged to adopt it and not be daunted by the perceived high cost of installation.