The Sunshine State has seen a recent uptick in solar panel and backup battery installations as more homeowners become aware of the huge savings solar energy offers. The combination of federal incentives and utility programs, alongside Florida’s Property Assessed Clean Energy (PACE) program, has made solar more affordable than ever before.
What solar incentives are there in FL?
The federal solar tax credit (26%)
Property Assessed Clean Energy Program (PACE program Florida)
How do I get the 26% solar tax credit?
After purchasing your solar system, fill out form 5695 when you file your taxes.
Are solar system in Florida exempt from property tax bills?
Yes, you will be exempt from paying taxes on the value added to your home.
What is solar PACE financing?
The state of Florida allows for localities to offer loans which are paid for through a property tax increase to your local government. PACE loans can finance not just solar systems, but most energy efficiency upgrades as well. The benefit of PACE is that you can start saving money on your utility bills day one, and if you choose to move house you can pass the remaining balance on the loan to the next property owner. This is why PACE is different to regular solar loans.
The new owner can elect to keep paying the loan or have the equipment removed, although it’d be unwise to do so as the savings from solar would far outweigh the loan payments.
As long as you don’t have overdue taxes or mortgage payments you should be able to qualify for PACE. Solar energy for your home has never been easier. Make the switch to solar today, save money and help the environment.