2024 Solar Incentives Guide for Miami Lakes, FL - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Miami Lakes.

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 Miami Lakes solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

Solar and CHP Sales Tax Exemption

Incentive Type:
Sales Tax Incentive

Florida PACE programs

Incentive Type:
PACE Financing
Determined locally

Property Tax Abatement for Renewable Energy Property

Incentive Type:
Property Tax Incentive
Residential: 100% of the added value
Non-Residential: 80% of the added value

Lakeland Electric - Residential Energy Efficiency Loan Program

Incentive Type:
Loan Program
$5,000

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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


The term "solar incentives" broadly refers to financial incentives implemented by the government and by solar companies to encourage people to use renewable energy by making the installation and use of solar panels more affordable. The incentives may include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are offered by the federal government, some by the Florida government and some by your specific utility company, county or municipality. Categories of solar incentives include:

  • Net Metering: You can sign a net metering agreement with your Miami Lakes utility company. This agreement may apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then deduct this value from your utility bill each month.
  • Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. States or counties will also sometimes offer limited-time rebates. The value of a rebate will usually be deducted from your total price before tax credits are calculated.
  • Tax Exemptions: Your solar system might qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to ignore the value that solar panels add when calculating property taxes on your house.
  • Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Federal Solar Incentives

Federal solar incentives are likely the first thing that you think of when you think about solar incentives. One of the incentives many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a certain percentage of your solar system's cost.

The ITC can be applied to the total cost of installing a solar system, 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 located in the United States that you own. 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 amount you can claim.

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

In August 2022, the Inflation Reduction Act expanded and extended the ITC, now dubbed the Clean Energy Credit. The Clean Energy Credit bolsters the current credit, increasing it up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After 2032, the credit percentage will see a slight decrease annually until the program expires in 2035. The expansion to the program also makes claiming credit for energy storage systems easier than ever before, starting in 2023.

More information about the new Inflation Reduction Act can be found here. To understand how the new Clean Energy Credit applies to you, speak with your local Miami Lakes solar installers.

State & Local Solar Incentives

Federal solar incentives are not your only option; rebates, tax credits and more may be offered at the state and local level. These incentives may be provided by your county or municipality, or by the Florida government. Some incentives may be ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Miami Lakes

Nationwide solar energy use has significantly increased in the past 15 years, in part thanks to the increase in availability of solar incentives. You may get these incentives from your local utility company, the Florida government or the federal government. If you're ready to switch over to solar energy, reaching out to your local Miami Lakes solar panel installation expert is an excellent place to start.

EcoWatch's Miami Lakes, FL Solar Incentives FAQs

How much will a solar system save me on my electric bill in Miami Lakes annually?

On average, homeowners in Miami Lakes who install solar panels save about $1,085.82 per year, or approximately $20,630.56 over 20 years after making the switch.

Who installs solar panel systems near me?

To learn about the top solar panel installers near you, take a look at our article on the best solar companies in Miami Lakes.

What are some environmental benefits of adding solar panels to my house?

Solar energy is a renewable energy source — by switching where you get your energy, you can help reduce the strain on our planet's resources. Solar panels can also lower the CO2 emissions from your home by 450 pounds annually, or around 9,000 pounds in 20 years.

Can I receive incentives both towards the up-front cost of solar panels, and later as reimbursement?

The order that incentives will be applied in may vary depending on which incentives you are eligible for but generally yes, you can receive multiple types of incentives for your solar project. Talk with your solar installer or a local tax professional to ensure you are claiming all possible incentives and applying them in the correct order.

What if I add solar panels to a vacation home, rental property or commercial property? Do I still qualify for incentives?

While we recommend speaking with your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives will apply to a second home, as long as it is in the United States and owned by you. There may be additional incentives available specifically for commercial properties, depending on the specifics.

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.

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