Florida Solar Incentives
In addition to the Federal Solar ITC (Investment Tax Credit), many states, counties, municipalities and utilities offer rebates or other incentives for solar energy technologies.
When looking at solar panel incentives, we are incredibly lucky in the USA, to have numerous programs and incentives to support you on your clean energy journey. They are designed to help you become more energy sustainable and reduce your carbon footprint. At Solar Sesame we have put together some of the key ones in your state.
Before we dive into see what’s currently available let’s quickly get an overview of some of the most popular.
Not available in all states, Solar Renewable Energy Certificates allow you to receive credits for the solar electricity you produce. You then sell the electricity back to the utility company or local SREC marketplace.
Net metering is an electricity billing incentive that helps you to generate your own electricity fully or in part with renewable energy sources like solar. You can then,, depending on the state’s criteria, sell back energy you produce to the utility company.
This is a great incentive that gives you exemption from property taxes. Once you install a solar power system you can apply for a tax exemption to bring down your taxes.
Another great tax inducement are tax credits that you receive from the government to offset some of the installation costs of a solar panel system. Some states also have additional state solar tax credits.
This takes the form of a qualified part refund that you can receive from the utility company, local government or any company that has signed up for the program. You can only apply once the solar panel system is installed.
These are often some of the best and cheapest ways to get you on the solar energy ladder. They are usually offered at a reduced interest rate.
A performance-based incentive (PBI) schemes are awards that give you a specified $ amount for every kWh of solar energy you produce. Not every state and utility company has signed up for this program.
At Solar Sesame we have done some exhaustive research to identify what solar panel incentives are available in your state. So let’s see what’s available.
Net metering is offered by the state. These are policies designed to allow homeowners, who produce their own solar electricity, to sell their surplus energy back to the utility company. The sale shows up as a credit on your utility bill.
The system is fairly simple. You create and use power when it’s needed, and any excess is automatically credited to you by your utility company.
To see the states that have a Net Metering Policy, check out the following from The National Conference Of State Legislatures
The state has not signed up for this incentive. To see which states have signed up, check out the following from The National Conference Of State Legislatures
This rebate offers a cash payment, to you or your installer who will then deducts it from the installation cost.
The state has signed up to the PBI which allows you to earn money from the solar energy that you produce. You may have heard of Solar Renewable Energy Credits (SRECs) these are the performance-based incentives that enable these Solar Power Performance Payments and are fantastic in helping you pay for the installation costs of your solar panel system. Payments are based on kilowatt-hours (kWh) or BTUs generated by your system, and measured by your electricity meter.
The state offers a great incentive to any homeowner who decides to install a solar panel system. Because solar energy will increase the value of your property, the state offers you a tax exemption, so that they only have to pay the pre-installation tax figure on their property as opposed to the tax on the increased valuation.
In a very forward-thinking move, the state has made the sales tax on the purchase of solar panel systems exempt if you are a homeowner.