2025 Solar Incentives Guide for Asbury Lake, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Asbury Lake.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Asbury Lake?
Property Tax Abatement for Renewable Energy Property
Non-Residential: 80% of the added value
Florida PACE programs
JEA - Solar Incentive Program
Lakeland Electric - Residential Energy Efficiency Loan Program
Clay Electric Cooperative, Inc - Energy Smart Energy Efficiency Rebate Program
Spray Foam Insulation: $0.28 per square foot
Window Film: $0.44 per square foot
Solar Shade Screen: $0.44 per square foot
Solar Water Heating: $0.01 per BTU
Heat Pump Water Heater: $175
Heat Recovery Unit: $200
HVAC: $250
Clay Electric Cooperative, Inc - Energy Conservation Loans
Clay Electric Cooperative, Inc - Solar Thermal Loans
Clay Electric Cooperative, Inc - Energy Smart Solar Water Heater Rebate Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" covers a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. You might qualify for various types of incentives, including cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Florida and others from the federal government. You might qualify for any of the following types of solar incentives:
- Rebates: A solar rebate is a partial refund given after you've purchased your solar system. Rebates could be offered by your local utility company, your state or your county. The rebates are usually applied before calculating tax credits.
- Tax Exemptions: Your solar panel system may qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the added value of the solar panels when you are calculating property taxes on your house.
- Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
- Net Metering: Net metering becomes relevant once your solar panels are up and running. If you have a net metering agreement in place with your Asbury Lake utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this credit is dollar-for-dollar, while in other areas you might be refunded a percentage of the value.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have some knowledge of. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a predetermined percentage of the cost of your solar system.
The ITC applies to solar systems installed after January 1, 2006, on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost – for panels, equipment, accessories and labor – although it may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the amount you can claim.
Have questions about how the ITC applies to your specific situation? Get in touch with your local Asbury Lake solar panel installer to get more information.
The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners can now qualify for a credit equal to 30% of the total solar system installation costs for projects started after January 1, 2022, and completed before the end of 2032. The percentage will then decrease on a yearly basis until the Clean Energy Credit ends in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
More information about the new Inflation Reduction Act can be found here. Your local Asbury Lake solar panel installation experts can answer your questions and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
Tax credits, rebates and more might be provided at multiple levels. On top of federal solar incentives, there are often state and local ones as well. These incentives might be given out by the Florida government, or by your county or municipality. Some incentives may be ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Asbury Lake
Nationwide solar energy use has gone up significantly in the past 15 years, in part thanks to the growth in the number of solar incentives. You might receive these incentives from your local utility company, the Florida government or the federal government. Talking to your local Asbury Lake solar panel installer is an excellent first step towards getting the most money possible when you switch to solar energy.
EcoWatch's Asbury Lake, FL Solar Incentives FAQs
How can I learn if I qualify for certain solar incentives?
It's best to speak with your local Asbury Lake solar installer for a better understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, like those provided at the level of the Florida government, might have other requirements.
I already have solar panels installed. Does my system qualify for any incentives?
If your solar panels were installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the date of installation. Talking to the company that installed your solar system, or any local Asbury Lake solar installer, can help you learn more about what incentives you might want to apply for.
What are the highest-rated solar panel installation companies near me?
To find the top solar panel installers near you, take a look at our article on the top solar companies in Asbury Lake.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously called the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
Can I qualify for incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can receive both rebates and tax credits towards the cost of your solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Be sure to talk to your solar installer or a local tax professional to confirm that you are claiming incentives correctly and getting the most money you can.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.