Solar Panels Florida Incentives

The florida renewable energy tax incentives consisted of three tax incentive programs that represented a total of 89 million in potential tax credits or sales tax refunds over the life of the program.

Solar panels florida incentives. The 2006 florida renewable energy technologies and energy efficiency act signed into law on june 19 2006 provides consumers with rebates and tax credits for photovoltaic systems. Florida residents may have to find another way to offset the initial solar panel cost. Recently governor crist recommended that 10 million be appropriated to the solar energy system incentives program in his proposal for florida s budget for 2010 2011 fiscal year. Thanks net energy metering tax exemptions and the federal solar tax credit owning a solar system and battery storage can help you gain energy independence and peace of mind.

Other incentives for solar accelerated depreciation. In addition to florida s net metering policy and tax exemptions to encourage solar energy the federal government gives you another huge incentive known as the investment tax credit itc. This generous rebate effectively knocks off 26 percent of the cost of your new solar energy system right off the bat as a credit on your income tax. This puts an average 6 kw solar system at 16 200 before claiming any incentives.

Florida renewable energy tax incentives. The governor appreciates your thoughts regarding the solar energy system incentives program and asked that the governor s energy office respond. Thanks to accelerated depreciation businesses can write off the value of their solar energy system through the modified accelerated cost recovery system macrs which reduces businesses tax burden and accelerates returns on solar investments qualified solar energy equipment is eligible for a cost recovery period of five years. What is the cost to install residential solar power in florida.

The purchase of photovoltaic systems covered under the florida renewable energy technologies and energy efficiency act qualifies the consumer to receive a. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. While abundant sun is one of the best reasons to go solar in the sunshine state 1 it s also a good idea to learn about the other florida solar programs available to you. Solar rebates and tax credit in florida.

Solar is a great renewable energy choice and is playing in important role in how duke energy provides electricity to customers.