While abundant sun is one of the best reasons to go solar in the Sunshine State, it’s also a good idea to learn about the other Florida solar programs available to you. 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.
Florida Solar Incentives, Rebates, & Tax Credits
Solar Savings Types
- Property Tax Exemption
- Sales Tax Exemption
- Federal Solar Tax Credit
Value of Savings
- Average savings $15,000
- Solar system sales tax exemption
- 26% of the final cost of the solar system
Florida Net Metering
Net energy metering is one of Florida’s best solar programs. Not only does it offer electric companies a more sustainable source of power, it gives you even more chances to save on your electricity bill.
Here’s how it works: if your home solar system produces more energy than you need, your utility will buy that surplus energy from you and pay you in the form of energy credits. That way, you can put those credits towards your electricity bill for times when you’ve needed to use energy from the grid. You can expect this to happen at nighttime or on particularly cloudy days. Basically, you can bank your solar energy for when you need it most.
Property Tax Exemption for Residential Solar Systems
Homeowners understand the value of property tax exemptions, so it’s good news that Florida is offering a tax exemption for residential solar systems. And since purchased solar systems may increase the value of your home by up to $15,000 on average, you’ll get even more bang for your buck if you decide to move.
Solar Sales Tax Exemption
Florida’s Solar and CHP Sales Tax Exemption is a welcome addition to the other incentives available in the Sunshine State. That means you can pocket the extra 6% state sales tax you would normally pay when you buy a home solar system and battery.
Federal Solar Tax Credit
In addition to Florida’s state solar programs, you’ll be eligible for the federal solar tax credit if you buy your own home solar system outright. In 2019, the tax credit can reduce the cost of a solar installation by 30%, including a solar battery purchase. That means if you purchase a 6-kilowatt system for $18,300, you’ll pay $12,810 after you receive your tax credit.
The federal solar tax credit is scheduled to drop to 26% in 2020, then 22% in 2021. After 2021, the tax credit is slated to be phased out.
