2025 Solar Incentives Guide for Lauderdale Lakes, FL - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Lauderdale Lakes?

Source: https://www.dsireusa.org/

Solar incentives are intended to make renewable energy usage more affordable through financial incentives for those who install solar panels on their homes. Various types of incentives, like cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be provided via the state of Florida, by your utility company or by county or municipality, while other incentives are federal. Some broad categories of solar incentives include:

• Rebates: Some solar companies will help you claim a rebate, or partial refund after purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually be deducted from the total price before tax credits are calculated.
• Tax Exemptions: Tax exemptions can come in two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the added value of your solar system when calculating property tax for your house.
• Tax Credits: Tax credits reduce, dollar-for-dollar, the total amount of tax you owe the government. Tax credits differ from tax deductions.
• Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you have in place a net metering agreement with your Lauderdale Lakes utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in others you may make back a percentage of the value.

Federal Solar Incentives

When someone says "solar incentives," you likely think of federal incentives first. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a percentage of the cost of your solar system.

The ITC can be applied to solar panels installed after January 1, 2006, on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost – for panels, labor, accessories and equipment – although the percentage may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.

Your local Lauderdale Lakes solar panel installer can give you more information about the ITC and how it might apply to your situation.

The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as retitling it the Clean Energy Credit). With the new provisions, solar installation projects that are completed between 2022 and 2032, might qualify for a 30% tax credit. This percentage will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Starting in 2023, the expansion will also make claiming credit for energy storage systems easier than ever before.

Click here to learn more about the new Inflation Reduction Act. The easiest way to learn more about how the new Clean Energy Credit applies to you is to talk with your local Lauderdale Lakes solar panel installation expert.

State & Local Solar Incentives

Rebates, tax credits and more might be provided at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Certain incentives are ongoing, while others are offered for only a limited time. Your local incentives may come from your county or municipality, or from the Florida government.

Next Steps for Installing Solar in Lauderdale Lakes

There are a number of different solar incentives: those provided by local utility companies, those offered by the Florida government and those provided by the federal government, to name a few. Solar energy use has grown enormously in the last 15 years, partially thanks to these incentives. When you're prepared to switch over to solar energy, talking to your local Lauderdale Lakes solar panel installation expert is a great first step.