Solar Power Rebates, Tax Credits and Solar Panel Incentives in Florida; 2012 Update
Well it seems there are a few issues around the Florida state based rebate program. If any of the local solar blogs are anything to go by there are some who have not received there expected rebates, it seems there was not a lot of money in the funding pool to start with.
Federal Tax Credit
A significant financial incentive for your solar power system in Florida is the same Federal Tax Credit that applies right across the USA. This gives you a credit on your Federal Tax bill equivalent to 30% of the cost of your solar system For more information on this visit out page "The 30% federal tax credit for residential solar power systems" Because this is a tax credit you get the benefit of this when you do your next federal tax return, rather than getting a cheque on the day of installation. Still, it has a real value if you are in a position where you are paying annual federal income tax equivalent to 30% or more of the value of your solar system.
Florida State Rebates
Tampa Electric provides financial incentives to customers who install solar-energy systems on their homes and businesses. Customers who install eligible solar water heating systems may receive a rebate of $1,000. Customers who install photovoltaic (PV) systems may receive a rebate of $2 per watt, with a maximum rebate of $20,000. Prior to system installation, program participants must allow Tampa Electric to perform an energy audit on the home or building. Tampa Electric has budgeted $1.5 million per year for this program from 2011 through 2015. The utility will approve applications every year on a first-come, first-served basis until funding is exhausted. State based Utility, JEA has signed up to getting a whole 7.5% of their power from renewable sourses by 2015. It may be this level has already or will soon be reached, as always the best bet is to get in contact with the local professionals click "here" to get quotes from local business's.
Net Metering means that your electricity provider will monitor how much power you consume from the grid and how much power you generate and send back to the grid. The amount of kilowatt hours you feed back into the grid is subtracted from the amount of kilowatt hours you have purchased from the grid in each billing period. So if you used 1000 kwh in a period and sent 300 kilowatt hours into the gird during the day when you weren't using much power at home, then your utility will only bill you for 700 kilowatt hours. You can look on the JEA, Lakeland Electric and Orlando Utilities websites for their net metering policies. Alternatively you can use our quote form "here" to get quotes from solar panel installers that know the policies of your utility. The real value of net metering is that the value you get for the power that you feed back into the grid will increase in time as the retail price of power increases.
Florida State Tax Exemptions and State Tax Credits
Florida residents are exempt from Florida's sales and use tax this became permanent in 2005.
Florida Solar Incentives and investment case: Summary April 2012
Florida has a mixed bag in relation to its State based incentives. There is net metering and as always the federal government tax break. However it seems that there are funding issues and perhaps things will get better. As always the best way to see what is available to you is to click "here" and we will put you in touch with locals who know the current state of play in your area.