2023 Solar Incentives Guide for Juno Beach, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Juno Beach.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in Juno Beach?
Solar and CHP Sales Tax Exemption
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
Solar incentives are meant to encourage people to switch to renewable energy by offering incentives that lower the financial burden of solar panel installation and use. Different types of incentives, including discounts, cash back or credit towards your monthly utility bill, might be available to you. Some incentives may be offered by the Florida government, by your utility company or by county or municipality, while others are federal. You might qualify for any of the following types of solar incentives:
- Net Metering: Be sure to speak with your Juno Beach utility company about signing a net metering contract. This will allow you to get a credit towards your utility bill every month for the value of excess energy your solar panels generate. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Rebates: Rebates, or partial refunds after a purchase, are typically given prior to any solar tax credits being calculated. Rebates can be provided by your local utility company, by your county or by your state.
- Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the government. (This is different from a tax deduction.)
- Tax Exemptions: Your solar panel system may qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions allow you to ignore the added value of the solar panels when you are calculating property taxes on your house.
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have some knowledge of. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit that reduces your taxes by a predetermined percentage of the money you spend on solar panels for your home.
The ITC can be applied to the total cost of solar system installation, including the panels themselves as well as labor, equipment and accessories. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence that you own, as long as it is located in the United States. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum claim amount.
To find out exactly how much money the ITC could save you, talk to your local Juno Beach solar panel installation expert.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit re-raises the credit up to 30% for solar installations undertaken between January 1, 2022 and December 31, 2032. After this, the percentage will be reduced slightly each year until the end of the program in 2035. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit applies to you, speak with your local Juno Beach solar installation expert.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. Like with federal incentives, these could include tax credits, rebates and more. Certain incentives are ongoing, while others may only be available for a limited time. They might be offered by your county or municipality, or by the Florida government.
Next Steps for Installing Solar in Juno Beach
The large number of available solar incentives has helped tremendously increase the nationwide adoption of solar energy over the past 15 years. You may receive solar incentives from your local utility company, the Florida government or the federal government. Your local Juno Beach solar panel installer can help you learn more about which incentives you should apply for, and get you feeling good about making the change to renewable energy today.
EcoWatch's Juno Beach, FL Solar Incentives FAQs
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.