There’s a lot more to solar panels than just the energy they produce. Many homeowners and businesses can save money with Florida solar incentives.
That’s the big advantage of installing solar panels. You’ll see incentives and benefits for years and years to come. Today we’re breaking down the best incentives and benefits for installing solar panels in 2021.
Florida Solar Rebates
Rebates are a great way to save money when you’re installing a solar system. Rebates will most often come from local municipal companies and are going to be very specific to the area you’re located in. These rebates might come in the form of discounts on electricity or even credits to your bills because you’re helping contribute to saving money and achieving carbon neutrality for the region.
Federal Solar Tax Credit
The federal solar tax credit is this country’s most competitive incentive for installing a solar system. While you won’t see it directly when installing the system, you can file for that credit as soon as you file your taxes at the end of the fiscal year. The credit can be applied directly against your federal income tax for the year.
The amount you receive for your tax credit is ultimately determined by how much you spend on the solar install and what year you install the panels. Throughout the rest of 2021, the credit is still at a rate of 26%. After 2021 the rate may be decreased to a lower percentage. When you install the solar panels on your home, you’ll be able to receive 26% off of the total install cost for your solar panels. That includes the cost of the panels, installation, and any other associated costs such as tree removal or electric services.
Net metering is a particularly popular incentive for residential solar systems. When you install your system, any excess in the amount of electricity your panels produce and your home doesn’t use, will be sent back to the grid, where it can be used by other customers in that area. This means you’re also going to get paid back for the energy produced by those same panels when you’re not home or not using any large amounts of electricity.
Because solar is so popular in Florida, seeing over 250 days of full sun every year, the net metering program in the state has grown into a success, making it a great option for helping to offset not only your electricity bills but also the cost of your solar panels.
Sales Tax Exemption
There’s no sales tax on solar panels, equipment, or services in the state of Florida. This is a great incentive for homeowners looking to install solar but are waiting because they’re trying to save money anywhere they can find it.
You might not think this incentive is big, but saving 6% can really add up, especially when you’re spending $10,000-$40,000 on your home solar energy system. No matter the solar product you’re purchasing, you’ll be able to purchase those solar energy products without any sales tax.
Sun Badger Solar is your local Florida solar installation partner. We’re here, and we’re happy to help you save money on solar and with solar. No matter the solar energy systems you’re looking at, we can help you make the right decision.
Contact Sun Badger today for all of your solar needs!