Florida solar incentives, tax credits, and rebates in 2024

Exploring Florida solar incentives

Floridians may be eligible for several national and local solar incentives sponsored by federal and state governments, utilities, and other entities. Florida solar incentives are always subject to change and come in many different forms, including tax credits, exemptions, rebates, and other programs designed to help homeowners reduce net project costs and increase solar ROI.

Florida solar tax credit programs

If you purchase or finance a solar energy system in Florida, you can qualify for the Residential Renewable Energy Tax Credit (RCEC), which is worth up to 30% of total installation costs with no value limit. The RCEC can be redeemed as a credit against federal income taxes owed and can only be claimed by homeowners who own their solar energy system-not a lease or PPA -and live on the property where it's installed. As the Sunshine State doesn't collect a personal income tax, there are no state-specific tax credits for solar panels in Florida.

Tax exemptions for solar panels in Florida

Solar panels are exempt from both property and sales taxes in Florida. With a property tax exemption, the increased home value from solar will not increase your property taxes, so as not to penalize you for going green. Likewise, solar equipment and services have been exempt from sales tax in Florida since 1997, helping those all along the supply chain to keep costs low.

Local Florida solar rebates for clean energy systems

Beyond the programs available at federal and state levels, you may be eligible for other solar incentives based on where you live in Florida-usually through an energy utility or local government office.

Where available, rebate programs can provide a direct reimbursement when you go solar. Although the state's largest electric utility, Florida Power and Light, has no solar rebates available currently in 2024, several initiatives, like the Solar Energy Rebate Grant Program in Dunedin, Florida, reward homeowners for contributing to local sustainability goals.

The difference between Florida solar incentives and net metering

It's important to separate Florida solar incentives from net metering, as net metering enables you to earn energy bill credits for the solar electricity you export to the grid. By state law, publicly-owned utilities like Florida Power and Light (FPL) and Duke Energy, are required to offer net metering to customers.

While the future of net metering may change if Florida were to follow the path of California and other states adopting net billing tariffs, homeowners who go solar in 2024 can be grandfathered into contracts unaffected by any policy updates.

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