2025 Solar Incentives Guide for North Palm Beach, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in North Palm Beach.
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 North Palm Beach?
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/
The term "solar incentives" refers to a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. You might be eligible for different types of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Florida and others from the federal government. Some broad categories of solar incentives include:
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (This is different from a tax deduction.)
- Rebates: Rebates, or cash back after a purchase, are normally applied before any solar tax credits are calculated. Solar rebates might be provided by your local utility company, by your county or by your state.
- Tax Exemptions: Tax exemptions may come in one of two forms. The first is sales tax exemption, applied at the time you purchase your solar panels. The second is property tax exemption. This allows you to ignore the added value of your solar system when paying property tax on your house.
- Net Metering: Net metering factors in once your solar system is up and running. If you've signed a net metering agreement with your North Palm Beach utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in others you may be refunded a percentage of the value.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Federal Solar Incentives
When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. An incentive many people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a given percentage of the cost of your solar system.
The ITC was originally for 30% of the total cost of installing solar panels, although it has fluctuated slightly over the last few years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of accessories, equipment and labor. There is no maximum amount you can claim. The ITC can be applied to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
Have questions about how the ITC applies to your specific situation? Get in touch with your local North Palm Beach solar panel installation expert to get more information.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The Clean Energy Credit runs until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit; this amount will decrease slightly on a yearly basis until the current program ends. Beginning in 2023, it will also be easier to obtain credits for energy storage systems under this new program.
Click here to learn more about the new Inflation Reduction Act. The best way to understand how the new Clean Energy Credit might apply to you is to reach out to your local North Palm Beach solar panel installation expert with your questions.
State & Local Solar Incentives
Tax credits, rebates and more can 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 only available for a limited time. These incentives may be provided by the Florida government, or by your county or municipality.
Next Steps for Installing Solar in North Palm Beach
There are a variety of solar incentives: those given by local utility companies, those offered by the federal government and those provided by the Florida government, to name a few. The use of solar energy has increased tremendously in the last 15 years, thanks to these incentives. We recommend talking to your local North Palm Beach solar installation expert for more information about these incentives and to be sure that you're getting the largest number possible for your solar panels.
EcoWatch's North Palm Beach, FL Solar Incentives FAQs
My home already has solar panels. Does my system qualify for any incentives?
You should plan to talk to the company that installed your solar system – or get in touch with a local North Palm Beach solar installer — to learn about which incentives you may 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. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
How much can I save annually on my electric bill if I add solar panels to my house in North Palm Beach?
On average, North Palm Beach homeowners who install solar panels save around $1,083.63 per year, or around $20,588.93 over 20 years after making the switch.
What are some environmental benefits of installing solar panels on my home?
Solar energy is a renewable energy source — by changing where you get your energy, you can help reduce the strain on our planet's resources. A solar system can also lower your home's CO2 emissions by 450 pounds annually, or around 9,000 pounds in 20 years.
When does the federal solar tax credit end?
The federal solar tax credit, formerly called the ITC and now titled the Clean Energy Credit, is set to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
What if I add a solar system to a vacation home, rental property or commercial property? Can I still qualify for incentives?
Many solar incentives apply to a property you own that is located within the United States; most secondary residences will fall into this category. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend speaking with your local solar installer and/or tax professional to best understand what incentives will 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.
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.