Why are there Florida Solar Power incentives? You would think with a nickname like The Sunshine State that there would be people lining up to use Solar Power. Unfortunately, this is not the case. Florida is still trying to get enough people to invest in this renewable source of energy.
Traditionally, people consider installing solar panels as an expensive investment. Even if the past years and the recent developments have turned the tide. Florida solar power has major incentives. Green energy advocates hope to see more people take advantage of all 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
Solar Power owners may find out that they produce more energy than they need. In Florida it is possible to store this excess in the power grid for others to use. In return, they get credits from the utility company when they don’t use power they produce. It is great for those who have invested money in their own solar panels. 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 Federal Solar Tax Credit. Currently, the government will give a 30% tax credit. As long as you use your property as a residence you are eligible. This credit will go down to 26% in 2020. The government will allow for all expenses to go onto credit. That means equipment and labor costs. The homeowner can also combine other green improvements like new Roofing or Air Conditioning to the credit.
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.