REBATES & TAX CREDITS

Below is a list of the major incentives for both residential and commercial PV installations available in Florida. For a complete listing of state, federal, and utility incentives, including grants, loans and other programs, you can visit this website provided by the North Carolina Solar Center.

Residential Financial Incentives

Florida State Solar Rebate

The State of Florida is currently providing rebates for the purchase and installation of residential PV systems in the amount of $4 per watt. The system must be rated for at least 2,000 watts of DC power and the maximum rebate is $20,000. You can click here for more information.

Residential Solar Tax Credit for Federal Income Tax

A 30% tax credit is allowed on a residential PV system installation that is put in service after January 1st, 2006 and before December 31st, 2008. The 30% should be applied after all other rebates and incentives have been deducted and the maximum allowable credit is $2,000. Excess credit may be carried forward to succeeding tax years. You can click here for more information.

Utility Incentives

A growing number of utilities in Florida are offering a variety of incentives for energy efficiency and solar power. Be sure to check with your utility and the national incentive database referenced above.

Commercial Financial Incentives

Florida State Solar Rebate

The State of Florida is currently providing rebates for the installation of PV systems on businesses in the amount of $4 per watt. The system must be rated for at least 2,000 watts of DC power and the maximum rebate is $100,000. You can click here for more information.

Business Energy Tax Credit for Federal Income Tax

A 30% tax credit is allowed on a PV system purchase and installation for a place of business that is put in service after January 1st, 2006 and before December 31st, 2008. The 30% should be applied after all other rebates and incentives have been deducted. There is no maximum limit to the deductible amount. Excess credit may be carried forward up to 20 succeeding tax years. You can click here for more information.

Modified Accelerated Cost-Recovery System (MACRS)

This is an accelerated depreciation method in which the IRS allows businesses to depreciate the actual cost of a PV system (after all other financial incentives have been deducted) over a 5-year period. You can click here for more information.

Utility Incentives

As mentioned in the residential incentives, a growing number of utilities in Florida are offering a variety of incentives for energy efficiency and solar power. Be sure to check with your utility and the national incentive database referenced above.