Tampa Solar Incentives

by | Jun 27, 2022 | Commercial Solar, Residential Solar

Florida is the “Sunshine State”, and ranks third in the country for ideal solar conditions. However, Florida falls to the 14th State when it comes to solar installations. Florida offers rebates and tax incentives for installing solar power systems. Since 1997, solar systems are exempt from Florida’s sales and use taxes. The term “solar energy system” is used in Florida to refer to equipment and hardware that are used to collect, transfer, convert, store, and use incidental solar energy for heating, cooling, and other purposes that would otherwise need a conventional source of energy like petroleum products, natural gas or electricity. Here we will review the Tampa solar Incentives available for homeowners in Tampa FL that want to take advantage of solar power!

THESE FLORIDA PROGRAMS CAN HELP YOU GO SOLAR

FLORIDA NET METERING

Many electric companies will give credit or pay you a payment for your energy production. Net Metering allows your excess energy to be sold back to the grid.

FEDERAL SOLAR TAX CREDIT

The Federal government offers you another incentive, the Investment Tax Credit (ITC).

The ITC rebate is only available to those who have sufficient income. However, the ITC rebate subtracts nearly a third of the cost of your solar energy system and credits you with income tax. The ITC rebate is also available for PV panels purchased through a cash purchase, or a loan.

PROPERTY TAX EXEMPTION

The Florida Property Tax Exclusion For Residential Renewable Energy Property means that installation of your solar system won’t increase your property taxes, unlike adding an addition to your Tampa FL home.

Tampa Solar Incentives

SALES TAX EXEMPTION

Due to the Solar and CHP sales tax exemption incentive, you don’t have to pay any sales tax on a solar system. There are many programs that Tampa homeowners have access to, so there is no reason to not go Solar.

SOLAR TAX CREDITS

26% Tax Credit through 2022

Tax credits can help reduce the cost of your solar power system. An aggressive Federal Tax Credit can get you as much as 26% off on your new solar energy system.

Solar Tech Elec suggests that you confirm the availability of tax incentives with your tax advisor before installing a solar photovoltaic panel. There’s no better time than now to go solar, given the 26% tax credit. The 26% tax credit will decrease after 2022, so don’t delay. Florida claims that even if your home’s value rises due to solar systems, you won’t be taxed.

ADDITIONAL PROPERTY VALUE

Any type of solar photovoltaic systems can give homeowners an increase in property value. Solar power systems are the future of energy.

Business Accelerated Depreciation (MACRS).

Tampa businesses have the option to take advantage of accelerated depreciation, also known as (MACRS). Renewable energy solutions can be amortized on a 5-year accelerated schedule. To better understand the tax savings and tax benefits of going solar, consult your tax professional. The following factors can affect the payback time (ROI) for solar photovoltaic (PV), technology: local climate, utility rates and sun exposure. Also, tax credits may be available.

NET METERING

Net metering is the practice of selling excess solar power you have generated. It is a benefit for you, the consumer, and reduces your return on investment.

The net metering system is both a win-win situation for the consumer as well as the power company. The consumer generates electricity during peak loads, reducing the demand for the grid. In addition, the power company receives any excess energy at the highest energy cost. In areas of increasing population, net metering helps reduce the need to make additional investments in power infrastructure.

If you are interested in going solar, contact us today at Solar Tech Elec! With all of the Tampa Solar Incentives it is a no brainer to go solar! We are the go to Tampa solar installation company.

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General BootyGeneral Booty
18:00 22 Jan 22
Ross and his team were excellent with quotes, pricing, communication, educating me on the solar system, follow through, and follow up. The install team was very friendly and informative and did great work. A very high quality inverter and 23 very high quality solar... panels were installed excellently. Thank you Ross and everyone at Solar Tech Elec! I would definitely recommend them to everyone interested in getting a solar system as they are there for you after the install with your questions or concerns as well.read more
Breah DiLaneyBreah DiLaney
02:38 14 Dec 21
After multiple quotes, scam companies, 3rd party contractors and panels that came from lower grade materials; we could not be any happier with Ross and the guys @Solar Tech. He is honest, knows his products, came to our home when it fit in to our schedule and never... pressured or tried to sell us on anything. He even listened to our electric use concerns and offered multiple products to maximize our savings. Install just completed on our panels and it has been perfection from the 1st phone call. Bravo guys!read more
Ken RosenbergerKen Rosenberger
14:40 03 Nov 21
Couldn’t be more pleased with Solar Tech Elec. We got three quotes for a very good sized solar system and theirs was the best. They use top quality, American made equipment, the staff were very professional and the installation went flawlessly. I highly recommend them!
Karlie WyseKarlie Wyse
21:26 15 Oct 21
Fantastic company! Best quote I received from any solar company and the installation process was smooth as butter. We had 28 panels installed and everything was complete in 1 day. The installers were very nice and professional as well. Don't look any further if you're... considering Solar panels! Highly recommendread more
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