2025 Solar Incentives Guide for Bayshore Gardens, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Bayshore Gardens.
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 Bayshore Gardens?
Property Tax Abatement for Renewable Energy Property
Non-Residential: 80% of the added value
Florida PACE programs
Lakeland Electric - Residential Energy Efficiency Loan Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives help mitigate the cost of installing a solar panel system on your home. This category of financial incentives is in place to encourage more Americans to switch their home over to renewable energy. You may qualify for various kinds of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Florida government and others from the federal government. Types of solar incentives might include:
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions allow you to ignore the value that your solar panels add when you calculate the amount of property tax you need to pay on your house.
- Rebates: Solar rebates might be offered by your local utility company, or by your county or state. These rebates work as partial refunds that are applied after you purchase solar panels and before tax credits are calculated.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the government.
- Net Metering: You can sign a net metering agreement with your Bayshore Gardens utility company that will apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your monthly utility bill.
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have heard 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 your solar system's cost.
The ITC can be credited towards the value of solar panels installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006, on a property you own for you to claim the credit. The ITC initially covered 30% of all installation costs (panels, equipment, accessories and labor), although this amount has fluctuated slightly over the last few years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the claim amount.
To better understand exactly how much the ITC could save you, talk to your local Bayshore Gardens solar panel installer.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit has increased the current credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. At this point, the percentage will decrease slightly each year until the program expires in 2035. The expansion to the program also makes credits for energy storage systems even easier to claim, starting in 2023.
More information about the new Inflation Reduction Act can be found here. To understand how the new Clean Energy Credit might apply to you, reach out to your local Bayshore Gardens solar installers.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Like with federal incentives, these might include rebates, tax credits and more. Some incentives are ongoing, while others are only available for a limited time. They may be given by your county or municipality, or by the Florida government.
Next Steps for Installing Solar in Bayshore Gardens
You can apply for and receive solar incentives from the Florida government and the federal government, as well as from your local utility company. This increase in availability of solar initiatives in the past 15 years has helped increase nationwide solar energy use enormously. We recommend talking to your local Bayshore Gardens solar installation expert for more information about these incentives and to ensure that you're getting the most money possible for your solar system.
EcoWatch's Bayshore Gardens, FL Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
Typically, solar incentives apply to:
- a new solar system
- installed on property that you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including ones handled by the Florida government or by your county/municipality, sometimes have additional qualifications. Speak with your local Bayshore Gardens solar installer to learn more about what incentives your project will qualify for.
Who installs solar panels near me?
To discover the top solar panel installers near you, take a look at our article on the best solar companies in Bayshore Gardens.
Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?
Yes, you can claim both rebates and tax credits towards the cost of your solar panels. Depending on precisely which incentives you are claiming, they may apply in a different order. Make sure that you talk to your solar installer or a local tax professional to verify that you are claiming the correct incentives and getting the most money you can.
Can I use a combination of multiple types of renewable energy to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Be sure to go over your ideas with your local Bayshore Gardens solar installer. They can help you as you plan for your project and give you an understanding of various incentives that you will or won't qualify for.
What if I am planning to add a solar system to a rental property, vacation home or commercial property? Will I still qualify for incentives?
Many solar incentives apply to a property you own that is located within the United States, and most secondary residences fall under this distinction. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend getting in touch with your local solar installer and/or tax professional to best understand what incentives may apply to your specific situation.
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.