If you’re thinking about installing solar panels in Florida, then you’ve come to the right place! We have prepared a complete list of all available solar incentives, tax credits, and rebates offered throughout the state of Florida in 2022. These offers are sometimes called by different names, but they all mean the same thing — free money for going solar. This information is provided by homeowners in Florida who wish to share it with the local community in an effort to save our planet from climate change.
The state of Florida provides its citizens with many different incentives to further promote clean energy. One of these incentives would be a property tax exemption. They also offer tax credits to reduce the cost of your purchase when upgrading to solar-powered systems. You will also be made exempt from sales tax for your purchase.
In the article, I will go into further details. I will explain how these incentives work. And provide you with better information regarding solar solutions. Lastly, I will go over the importance of solar energy. And why you and I should look towards solar energy as our future when it comes to energy.
Florida for Solar Energy
Florida the sunshine state is ranked 3rd for its solar potential in the United States. Despite this, it is only ranked 14th for the number of solar roofs installed in 2020. This is a great waste of its potential to produce green energy. For this reason, the government has taken many steps to incentivize it.
Due to these during the second quarter of 2021, it ranked 2nd for the most solar panel installations in the United States. Which considering Florida is sunny 237 days a year on average is a huge boost to the solar energy sector.
Incentivizing The Niche Solar Market
The main driving force behind the increase in solar panel installation in Florida is solar incentives. These incentives make it easier for people to adapt and add solar installations to their homes without worry. So, let us look at some of the incentives the government has put forth.
Property Tax Exemptions
When installing any kind of upgrade to your home, one of the first things you need to consider is the property tax. Under most circumstances, any additions to your housing or property result in a tax increase. This is due to the value that these additions add to your property. Such taxes would usually put off anyone interested due to extra costs.
To combat this Florida has exempted all property-related taxes due to the installation of your solar roofs. As a result, new adopters have no reason to fear an increase in tax for their solar roofs.
Florida’s Net Metering
One of the biggest selling points of solar panels is net metering. Net metering is the process by which the excess electricity produced by your solar panels is fed back into the grid. In return, they supply you with utility credits. You can use these credits to pay for the energy that you use. Usually when your panels are unable to produce energy. Such as at night or when it is too cloudy.
Unlike many other states where there are no specific federal policies for net metering, Florida has a statewide program. It covers up to 2 megawatts for any customer who produces renewable energy.
These factors incentivize more Floridians to adopt solar systems. As not only would they be able to pay less for their electric bill but also earn a profit if they produce more than they consume. Making this a win-win situation for them.
Exemption From Sales Tax
Another factor that may affect the purchase and installation of solar panels is the cost. Any new adopter may be put off due to the pricing. If the panels are priced too high, there will be fewer adopters. For this reason, all solar systems are exempt from sales taxes.
As a result, any new adopter purchases their panels at a 6% discount of what they would expect to pay.
Federal Tax Credits
Federal tax credits are another way to incentivize people to adopt a cleaner energy system. For 2022 all sales and installation of new solar panel systems qualify you with a 26% federal solar tax credit. Due to the steps taken by the ITC, there has been a rapid growth in solar energy.
According to the ITC, all solar energy systems fully installed by the end of 2022 will earn a federal solar tax credit of 26% of the cost of installation. However, this value will drop to 22% in 2023 and expire in 2024. Incentivizing the public. And businesses adopt these systems as soon as they can.
On a more local level, Floridians can also benefit from other incentives. For example, in smaller levels such as towns or cities they can easily find solar financing options. These options will often have a much lower interest than most others.
These solar financing options are also very easy to find. Just visit the local government pages or reach out to some representatives of utility companies. They will send you on the right path.
Why Should You Go Green?
As mentioned above the government has made it very appealing to adopt solar panel systems. But why is that? Why should we be considering renewable energy? There are many reasons as to why you should consider going green.
In 2019 energy production alone made up for 25% of the total greenhouse gas emission in the United States. Making it the second largest contributor to greenhouse gases. Falling behind transportation by a mere 4%.
These greenhouse gases are the leading cause of climate change. They are also one of the lead causes behind many respiratory diseases and air pollution.
By adopting a greener energy solution, you can cut down on the greenhouse gases released into the environment. Leading to a healthier planet and cleaner air for us to breathe.
Using renewable and greener forms of energy allows us to cut down on the cost of energy consumption. Not to mention the profits you can gain by sending the excess energy back into the grid. So, even from an economic standpoint, you can see the benefits of going green.
There are also the tax credits and rebates that I mentioned earlier in the article. By which the government incentivizes us to be more responsible and go green.
By going green you can cut down on the pollution in the air. According to the World Health Organization (WHO), air pollution is responsible for around 2 million deaths globally each year. Besides air pollution, many other harmful toxins are released into the environment. Such as nuclear waste.
These toxic components once released into the environment are harmful to us. And all other organisms living around us as well. Going green can prove to be a necessary step to prevent further deaths.
Limitations of Nonrenewable Energy
One of the biggest limiting factors for fossil fuels when it comes to producing energy is the fact that it will most definitely run out. There is a finite amount of fossil fuel present on the earth. And considering 63% of the world’s total energy is produced by fossil fuel poses an issue.
Nuclear energy is neither safe nor good for the environment. In the US alone 200 metric tons of radioactive waste are produced annually. Not to mention the damage that could occur in case of a nuclear meltdown.
So, you can get an idea as to why the government would prefer green alternatives. And incentivizing the people to adopt it.
Future of Solar Energy
Solar energy like its namesake holds quite a bright future. From what you can see the price of solar energy has dropped significantly in the past decade. In fact, according to the trends, it will continue to drop. This is due to continuous technological advancements being made in the field.
These new technologies will not only lower the prices but at the same time ensure more efficiency is achieved. The day that solar energy beats fossil fuels is not that far. By the year 2030 solar energy may become the energy production throughout the world.
The current solar industry has a clear vision of how to achieve a better result. So much so that by 2030 solar energy should cost us all half of what it does now. Even now the industry is shifting towards more efficient modules. Which can generate around 1.5 times more power than existing ones of the same size.
In this article, I talked about how the government of Florida is promoting the adoption of solar energy systems. If you’re considering getting solar panels for your home, I hope this article helped you learn more about the Florida solar incentives, tax credits, and rebates available. The government is taking the necessary steps to make Florida a much greener state and help it achieve its capability for solar production.
As more and more people embrace solar power, more states have begun to implement solar incentives to encourage consumer adoption and the use of domestically manufactured solar panels.
I also went over some small details regarding why a shift to a greener method of energy production may be good. And the future of solar energy. I hope you found this article to be informative. Thank you for reading the article.
Have a wonderful day 🙂