Florida Solar Panels Rebates

First you earn a 7 484 federal solar tax credit.

Florida solar panels rebates.

The tax break reduces the. Generate an accurate online solar estimate for your home. Florida s primary incentive for installing rooftop solar panels won t be in for major changes for at least a year. There are fewer than 60 000 net metered systems in the state.

In 2019 the tax credit can reduce the cost of a solar installation by 30 7 including a solar battery purchase. Over 25 years your florida solar panels will save you an estimated 61 261 on your electric bills. As solar grows it helps avoid the need to build expensive power plants making it a win win for. Florida has room for growth on solar.

8 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. 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. This is 2 41 per watt. The total net savings from solar in florida bill savings and incentives minus up front cost is 39 960.

Sadly there s no other state tax credit or rebate for solar in florida. The rebate is based on the manufacturer s power output rating of the modules. The average cost for an installed residential solar system in florida is currently 10 718 after claiming the 26 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.

Not so with solar. The florida public service commission held a workshop thursday to understand. 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. The same goes for rebates.

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. Luckily the dual impact of existing incentives and advancements in manufacturing technology means that the cost of solar power in florida has dramatically decreased for the average homeowner.