Thursday, May 30, 2024

Florida Incentive For Home Solar Panels


We aren’t called the Sunshine State because of this! Florida has an average of 237 sunny days each year, making it the perfect place to store and create solar energy. You will not only be helping the environment by reducing carbon emissions, but you will also receive attractive solar incentives that will help you make more money.

ESD Solar is Tampa’s solar energy experts list all the incentives that Florida homeowners can get by switching to solar power.

Florida Solar: Fun Facts

Here are some facts about Florida’s solar industry before we dive into the incentives

  • Florida is the third-best state for solar energy in the United States.
  • Florida’s solar panel prices dropped by an amazing 45% over the past five years.
  • Florida is the third-highest producer of carbon dioxide emissions in America!

Florida Tax Rebates and Incentive Programs

Florida’s energy leaders recognize the many benefits of home solar energy. This is why there are so many incentives and rebates available.

Florida Net Metering

Florida Net Metering, one of the most important regulations for residential solar owners in Florida, is Florida Net Metering. It monitors the electricity your home consumes by connecting to the grid. You will “stay on” the grid as a backup power source even if you go solar. You will get 3credit because you are creating solar energy. Any unused energy that your electric company supplies will be returned to the grid.

Federal Solar Investment Tax Credit (ITC).

The federal solar tax credit, Investment Tax Credit (ITC), gives homeowners a dollar-for-dollar2 reduction in federal income taxes. It is available to home solar systems that have been installed before December 31, 2022. You can cut the cost of your solar system by 26 percent with ITC! This credit is only available to homeowners who either purchase their solar system in full or take out a loan to pay for it.

Property Tax Exemption

You will see an increase in your home’s value if you do things like renovations or additions. Your property taxes will go up when you add value to your home (i.e., renovations or additions). Solar is different! Your solar system won’t be subject to additional taxes thanks to Florida’s Property Tax Exclusion For Residential Renewable Energy Property.

Sales Tax Exemption

You will not be required to pay sales tax for your solar energy system because of the Solar and CHP Tax Exemption. This is a saving of 6% on what you would normally spend on state taxes.

Make The Switch With ESD Solar Tampa, FL

ESD Solar, a Tampa-based solar company, is a great way for the planet to be saved and also enjoy many financial incentives. Are you curious to find out if our solar solutions can meet your energy needs?

This post was written by Daniel Massaad, owner and expert solar technician at Energy Solutions Direct! ESD is one of the premier Tampa solar companies! Our licensed and certified contractors are masters of their craft; with years of experience servicing the great Tampa Bay area and beyond, the choice is simple. ESD excels at offering you the best in solar value!

Trey Rory
the authorTrey Rory