Okaloosa County Solar Installers
How to Go Solar in Okaloosa County
Between the benefit brought to the environment by renewable energy sources and financial savings that come with them, going solar has never been more appealing. Add to that the sunny climate, current tax incentives and immense value we in Florida place on environmental responsibility, and it’s hard to think of a reason not to switch to solar.
Unfortunately, many people are unaware of all the financial incentives available to them if they go green, and they also don’t know who could help them do it. At Compass Solar, we can help with both of those, and to that end we’ve compiled four financial incentives that you can take advantage of when installing your solar panels, as well as two utility companies in Okaloosa County that can help you make the switch.
No Property Tax Increase
Oftentimes, building an additional structure onto your home or property will increase your property taxes, especially on one that adds as much value as a solar module. Thankfully, that’s not the case with solar panels, as your property taxes will not increase as a result of adding solar panels to your property. That means your home will enjoy the rise in value that comes with the energy security that solar panels provide, without the extra taxes.
Federal Solar Tax Credit
Also known as the Investment Tax Credit, the ITC allows both residents and businesses who install solar panels onto their property to deduct 26% of the installation cost of their system on their taxes. This tax credit lasts through 2020 and is then reduced to 22% through 2021, after which it will be removed altogether, so if you’re going to make the most of this tax break, it’s better to act sooner than later.
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Frequently, homes that derive their electricity from solar panels end up producing more electricity than they consume. When this is the case, your electric company will credit your account for the excess electricity that you’ve produced, offsetting any residual future monthly payments to your power company for electricity your solar panels couldn’t provide. Net metering enhances the cost effectiveness of your solar panels by saving you that much more on your electric bill – if you have one at all.
No Sales Tax
It may not amount to much for smaller purchases but long-term investments can carry with them a sales tax that can add up to a noticeable burden. Solar panels may be a long-term investment, but no sales tax is required for their purchase, adding one more layer of relief.
Since some of the savings you’ll receive come in the form of tax benefits, you’ll need your utility company to provide you with the specifics on how to go about accessing these credits. There are two main electric companies in Okaloosa County: CHELCO and Gulf Power. CHELCO is an electric co-op that serves 53,000 customers in Northwest Florida, and Gulf Power is Florida’s largest electric provider. Both serve the Destin and Fort Walton areas and have extensive solar panel programs.
Still, making the transition from fossil fuels to solar panels for electricity needs can take some thought, as there can be several factors to consider – the size and type of solar installment that’s right for you, whether or not to use a backup battery, and what paperwork needs to be processed to get you the savings you’re entitled to, to name a few. At Compass Solar, we’ve been installing commercial and residential solar panels since 1998, so we’ve got the expertise to design the best solar system for you. We’ll also work with your utility company to make sure you’re getting all the financial benefits your solar panels can offer, so all you have to do is enjoy the clean, off-grid energy your new solar system will bring – and the savings that come with it. Contact us today, and begin your solar journey now!
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Installation in Destin, Crestview, Niceville, and surrounding areas.