2024 Solar Incentives Guide for Kendall, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Kendall.
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.
Get a free quote from one of our trusted Kendall solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Kendall?
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. These financial incentives are designed to encourage more Americans to make the switch to renewable energy. These incentives could include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the Florida government and some by your specific utility company, county or municipality. Some broad categories of solar incentives include:
- Tax Credits: Tax credits lower, dollar-for-dollar, the total amount of tax you owe the federal government. Tax credits differ from tax deductions.
- Rebates: Solar rebates might be provided by your state or county, or by your local utility company. These rebates are essentially cash back that is applied after you pay for a solar system and before tax credits are calculated.
- Net Metering: You can sign a net metering agreement with your Kendall utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your utility bill each month.
- Tax Exemptions: Your solar panels might qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when calculating property taxes on your home.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
Federal Solar Incentives
Federal incentives are the type 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 the cost of your solar system.
The ITC applies towards solar systems installed after January 1, 2006, and under this program you can deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although depending on when the project was completed, your credit may range from 26-30%. There is no maximum claim amount.
Reaching out to your local Kendall solar panel installation expert is the best way to understand how the ITC could apply to your situation.
In August 2022, the Inflation Reduction Act made revisions to the ITC, now titled the Clean Energy Credit. The new Clean Energy Credit now runs until 2035. You can now receive a 30% credit for solar systems that began installation on or after January 1, 2022, and will be done by December 31, 2032. This credit will then be decreased by a few percentage points every year until the date of expiration. The program expansion also makes credits for energy storage systems even easier to claim, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. The easiest way to fully understand how the new Clean Energy Credit might apply to you is to get in touch with your local Kendall solar panel installation expert.
State & Local Solar Incentives
Tax credits, rebates and more can be claimed at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Some incentives are ongoing, while others are only available for a limited time. These incentives might be offered by the Florida government, or by your county or municipality.
Next Steps for Installing Solar in Kendall
Solar incentives might be offered by the federal government, the Florida government or your local utility company. The variety of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. Your local Kendall solar panel installation expert can give you more information about which incentives you might qualify for, and get you on track to switch to renewable energy today.
EcoWatch's Kendall, FL Solar Incentives FAQs
If I already have solar panels, can I still claim incentives?
Your best bet is to talk to someone from the company that installed your solar panels – or reach out to a local Kendall solar installer — to clarify which incentives you might qualify for. If your system was installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
How much can I save on my electric bill annually if I install solar panels on my house in Kendall?
Once you add solar panels to your house in Kendall, you can anticipate savings of approximately $1,090.67 per year, or approximately $20,722.69 over 20 years.
Who installs solar panel systems near me?
To discover the top solar panel installation companies near you, take a look at our article on Kendall's top solar panel companies.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously called the federal solar tax credit, or the 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 use both solar and another type of renewable energy to power my home?
Yes, you can utilize multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also use both renewable energy sources and a non-renewable backup source of energy. You should discuss your plan with your local Kendall solar panel installer, to make sure you know what you'll need and what incentives you might or might not qualify for.
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.