How Does Solar Work In Florida – Florida has rightfully become one of the top states for residential and commercial solar power thanks to their incentives, sun hours, and production. Florida solar panel policies like Net Metering make solar energy worthwhile for often saving money on your electric bill.
Solar has the ability to produce efficiently, especially as incentives like the Florida State Rebate make solar affordable, easy and effective.
Florida Solar Power Incentives, Tax Breaks and Rebates
1. Federal Tax Credit (Solar ITC)
Nation-wide federal legislation makes available the Federal Tax Credit, otherwise known as the Solar ITC, to all Florida homeowners. This tax credit funds you 26% of the total cost of your solar energy PV system.
This incentive makes solar a great option to realize cost-savings and price reduction, often resulting in a lower monthly electric payment.
The Solar ITC was set to expire in 2020, but was extended for another three years. In 2021, the ITC will cover 26% until December of 2022. This federal legislation was passed in order to keep the solar power industry healthy and viable for energy production, as well as helping homeowners save money on electricity costs.
2. Florida Property Tax Exemption
In Florida, homeowners are eligible for a solar property tax exemption. Additions and or adding value to your home typically results in an increase in property tax, but solar is exempt from all property tax. This tax exemption, however, is not applied to the full price of the system, and there is no sales tax exemption if you are outright purchasing your system.
3. Florida Sales Tax Exemption
Florida residents and businesses also do not pay sales tax on solar systems. Thanks to Florida legislation that prevents sales taxes being applied to new systems, you can now avoid 6% sales tax on your solar panels installed on your property!
Net Metering in Florida
Florida has one of the best Net Metering policies, further establishing the state as one of the most attractive states for solar.
Florida’s Net Metering policy enables residents to store up any unused electricity your solar panels generated into your next month. This energy is stored in the utility’s power grid. Furthermore, this roll-over style energy storage process zeros out once a year. Overproduction of energy in the summer months accounts for power needs in potential slower winter months.
Talk with one of our Florida solar energy specialists to see what Net Metering can do for energy savings on your home.
Increase In Home Resale Value
With new verified research coming out over the years, it is now proven that solar panels can increase the value of your home on the real estate market. According to a study by the University of California, Berkely, numbers do vary based on location, city, and state, but studies have concluded that for every 1 kilowatt of solar panels installed on your property, the value of your home can increase anywhere between $4,000 – $6,000. For example, the average system size in Florida is 7 kilowatts. This means your home can increase in value anywhere between $28,000 and $42,000 in resale value.
How Many Solar Panels Does My Home Need?
Each home’s energy needs are calculated off of past utility bills. For the most accurate assessment, we take the most recent 12 months of your power usage, and input them into our Sunlight software that takes into account sun hours, roof space, panel type, usage and more. The average system size is 7 kilowatts, which can often result in anywhere from 16-40 solar panels needed, depending on the type of panel and other factors. Tron Solar provides these designs free of charge. Our experts will take care of all calculations for you and are happy to walk you through exactly what your home’s design and savings will look like with solar.
I was surprised by how easy it was. They answered every question I had. Eventually the solar payment will go away and I’m okay to be left paying $16 per month for electricity.
Everything proceeded ahead at lightning speed with great communication along the way. They also took care of all the rebate requirements as well, making the entire process very simple and quick.
The entire process, from purchasing Tron Solar Panels to installation, has been seamless. All Tron employees I’ve worked with have been incredibly friendly, knowledgeable, and professional.
Dealt with Adrien and Andy and the communication and process was awesome. A lot easier than I expected, and also found out they offered a lot more than solar panels.