Florida Power And Light Solar Incentives

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Florida power and light solar incentives.

Florida power and light offers a solar rebate and all of the utilities governed by the state utilities commission offer net metering. 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. The florida power and light net metering rate is currently around 10 5 cents per kwh. 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.

That means you can pocket the extra 6 state sales tax you would normally pay when you buy a home solar system and battery. 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. The net excess generation neg of solar power on your property can be carried forward at the retail rate provided by your utility service. 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.

Sadly there s no other state tax credit or rebate for solar in florida. 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. 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.

6 federal solar tax credit. 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. The same goes for rebates.

If over a 12 month period they generate more power than they use the utility must pay them. Solar panel cost in florida the average cost for an installed residential solar system in florida is currently 10 718 after claiming the 26 federal solar tax credit. The intended goals of the program are to increase renewable energy production within the state and to create new jobs for floridians. 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.