Below is a list of the major incentives for both residential and commercial PV installations available in Florida. For a complete listing of state, federal, and utility incentives, including grants, loans and other programs, you can visit this website provided by the North Carolina Solar Center.
Residential Financial Incentives
Residential Renewable Energy Tax Credit for Federal Income Tax
A 30% tax credit is allowed on a residential PV system installation that is put in service after January 1st, 2006 and it doesn't expire until December 31st, 2016. The 30% should be applied after all other rebates and incentives have been deducted and the maximum allowable credit is $2,000 for systems placed in service before 2009 and no maximum credit for systems placed in service after 2008. Excess credit may be carried forward to succeeding tax years. You can click here for more information.
Renewable Energy Property Tax Exemption
Under Florida Law, improved real property upon which a renewable energy source device (PV) is installed and operated is entitled to an exemption in the amount of the original cost of the device, including the installation cost. This does not include the cost of replacing, removing, or improving existing property in the course of the installation. The device must be installed on or after January 1, 2009 and the exemption will not be authorized for more than 10 years. Also this amount will be pro-rated depending on the installation date, until the following year they can receive the full years amount. You can click here for more information.
Utility Incentives
A growing number of utilities in Florida are offering a variety of incentives for energy efficiency and solar power. Be sure to check with your utility and the national incentive database referenced above.
Commercial Financial Incentives
Business Energy Investment Tax Credit for Federal Income Tax
A 30% tax credit is allowed on a PV system purchase and installation for a place of business that is put in service on or before December 31st, 2016. The 30% should be applied after all other rebates and incentives have been deducted. There is no maximum limit to the deductible amount. Excess credit may be carried forward up to 20 succeeding tax years. You can click here for more information.
Renewable Energy Property Tax Exemption
Under Florida Law, improved real property upon which a renewable energy source device (PV) is installed and operated is entitled to an exemption in the amount of the original cost of the device, including the installation cost. This does not include the cost of replacing, removing, or improving existing property in the course of the installation. The device must be installed on or after January 1, 2009 and the exemption will not be authorized for more than 10 years. Also this amount will be pro-rated depending on the installation date, until the following year they can receive the full years amount. You can click here for more information.
Utility Incentives
As mentioned in the residential incentives, a growing number of utilities in Florida are offering a variety of incentives for energy efficiency and solar power. Be sure to check with your utility and the national incentive database referenced above.
Solar-Ray, Inc's License #: ER13012309
