Did you know that sunny Florida ranks 3rd in the United States for solar potential, but only 14th in terms of rooftop solar installed? We need to do something about that. Lucky for you, EnergySage is here to tell you more about Florida’s solar policies, and to help you find the best solar installer in the state.
Reasons to go solar in the “Sunshine State”: Florida tax rebates and solar programs
There are a few great solar programs to help Floridians take advantage of all that sun, including:
Florida net metering
FL Net Metering is one of the most important regulatory policies for residential solar owners in Florida (and many other states across the country) because it allows you to sell any excess solar energy you may have back to the grid. So while you are out and about during the day and not using much electricity at your house, your solar panels can be hard at work saving you money.
Property tax exemption
Normally, when you build an addition or otherwise add value to your house, your property tax bills shoot up. Not so with solar. Thanks to Florida’s Property Tax Exclusion for Residential Renewable Energy Property, your solar system will not result in any additional costs on tax day.
Sales tax exemption
Additionally, you will not even have to pay sales tax when you buy your new solar energy system, thanks to the Solar and CHP Sales Tax Exemption! That’s a 6 percent savings on what you would otherwise pay.
The cherry on top: the Federal Solar Tax Credit
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 almost a third of the cost of your new solar energy system, right off the bat, as a credit on your income tax. Keep in mind that that you must have enough income for the tax credit to be relevant, and the Federal ITC applies only to those who buy their PV system outright with a cash purchase or a solar loan.