Florida Power And Light Solar Incentives

In addition to florida s net metering policy and tax exemptions to encourage solar energy the federal government gives you another huge incentive known as the investment tax credit itc.

Florida power and light solar incentives.

6 federal solar tax credit. If over a 12 month period they generate more power than they use the utility must pay them. Sadly there s no other state tax credit or rebate for solar in florida. The florida renewable energy tax incentives consisted of three tax incentive programs that represented a total of 89 million in potential tax credits or sales tax refunds over the life of the program.

This is 2 41 per watt. Customers credits will be applied to their energy bill and fpl and will provide monetary compensation for any extra credits not used over the course of the year in january. Solar sales tax exemption florida s solar and chp sales tax exemption 5 is a welcome addition to the other incentives available in the sunshine state. Under the law they must credit customers for net excess generation in a month.

The net excess generation neg of solar power on your property can be carried forward at the retail rate provided by your utility service. Utility services that offer net metering in florida include florida power and light fpl duke energy and tampa electric teco. The same goes for rebates. Florida power and light pay you the retail rate for excess solar power that you export into the grid less the value of certain public programs which are each only a fraction of a cent per kwh.

Luckily the dual impact of existing incentives and advancements in manufacturing technology means that the cost of solar power in florida has dramatically decreased for the average homeowner. Florida power and light s net metering program allows homeowners to install and connect solar energy systems to the grid and receive credit for the energy produced by their systems. This generous rebate effectively knocks off 26 percent of the cost of your new solar energy system right off the bat as a credit on your income tax. You can use net metering on renewable energy systems of capacity up to 2 mw.

We would like to show you a description here but the site won t allow us. Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. That means you can pocket the extra 6 state sales tax you would normally pay when you buy a home solar system and battery. The intended goals of the program are to increase renewable energy production within the state and to create new jobs for floridians.