Florida Solar Tax Credits
Florida’s plentiful sun may be an obvious reason to go solar in the sunshine state but net energy metering, tax exemptions and the federal solar tax credit make adding solar panels to your home a no brainer.
Florida Net Metering
Net energy metering is one of the best reasons to add solar to your home or business. On top of helping you save on your electricity bill, it also gives energy back to electric companies as well and makes them more sustainable in the process.
Your utility will buy excess energy from you any time that your home solar system creates more energy than you need and will pay you in the form of energy credits that you can use at night or on cloudy days.
Residential Solar System Tax Exemption
The Florida Solar and CHP Sales Tax Exemption allows you to keep the 6% sales tax that would come with the purchase of a home solar system.
Federal Solar Tax Credit
In addition to these programs, homeowners who buy a residential solar system are also eligible for the federal solar tax credit. In 2020, the federal solar tax credit reduces the cost of a solar installation by 26%. In 2021 the tax credit will drop to savings of 22% and after 2021 it is currently scheduled to be dropped completely.