Florida Solar Rebates 2018

A typical sized solar panel system of 5 kw would cost you about 16 250 in florida.

Florida solar rebates 2018.

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. Otherwise known as the investment tax credit itc this incentive allows solar customers to receive a tax credit equal to 30 of the cost of their solar panel system. The amount is 4 00 per watt with a cap of 20 000 for residential photovoltaic systems and a 100 000 cap for commercial publicly owned or private not for profit photovoltaic systems. 3 and since purchased solar systems may increase the value of your home by up to 15 000 on average 4 you ll get even more bang for your buck if you decide to move.

Solar thermal systems are eligible for a 500 residential rebate or 15 btu capped at 5 000 for businesses. Florida is instantly synonymous with beaches and sunshine which is why its nickname is the sunshine state on average it receives more than 200 days of sunny weather each year. Homeowners understand the value of property tax exemptions so it s good news that florida is offering a tax exemption for residential solar systems. The rebates are as follows.

First you earn a 7 484 federal solar tax credit. While this is certainly a big draw for travelers there is another benefit that residents of florida can reap from the abundant sunshine solar power. The rebate is based on the manufacturer s power output rating of the modules. Given that neither electricity prices nor solar rebates have changed significantly during 2018 i think the only explanation for the explosion of solar interest in florida is increased public awareness of the benefits of net metering.

Generate an accurate online solar estimate for your home. Over 25 years your florida solar panels will save you an estimated 61 261 on your electric bills. Eligible measures include insulation upgrades window solar screens duct repairs cool roof products air conditioners heat pumps and solar attic fans. 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.

The total net savings from solar in florida bill savings and incentives minus up front cost is 39 960. 1 sq foot of window area up to a 300 credit. With the 30 tax credit that drops all the way down to 11 375.