2023 Solar Incentives Guide for Pine Castle, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Pine Castle.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Pine Castle?
Property Tax Abatement for Renewable Energy Property
Non-Residential: 80% of the added value
Florida PACE programs
Lakeland Electric - Residential Energy Efficiency Loan Program
Orlando Utilities Commission - Residential Energy Efficiency Rebate Program
Energy Star Windows: $1.50 per sq. ft.
Ceiling Insulation Upgrade: $0.10 per sq. ft.
Heat Pump: $90-$1,630 per unit
Duct Repair/Replacement: 100% of cost up to $100
A/C Proper Sizing w/ R-30 Attic Insulation: $90
Energy Star Heat Pump Water Heater: 100% of cost up to $500
Solar Thermal Water Heater: 100% of cost, up to $900
Solar PV System Battery: $2,000
Orlando Utilities Commission - Solar Programs
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to make renewable energy usage more affordable via financial incentives for individuals who install solar panels on their homes. Various kinds of incentives, including cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be offered by the Florida government, by your utility company or by county or municipality, while other incentives are federal. Types of solar incentives might include:
- Tax Exemptions: These may come in the form of property tax exemptions, which let you exclude the value added by your solar panels when paying property tax on your home. They may also include exemptions on sales tax at the time of purchase.
- Rebates: Rebates, or cash back after a purchase, are typically applied before any solar tax credits are calculated. These rebates might be offered by your local utility company, by your county or by your state.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
- Net Metering: Don't forget to speak with your Pine Castle utility company about signing a net metering agreement. This will allow you to get a credit towards your monthly utility bill for the value of excess energy generated by your solar panels. You might receive either a dollar-for-dollar credit or 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
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have heard of. An incentive many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a certain percentage of your solar system's cost.
The ITC applies to solar systems 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, equipment, labor and accessories — although that amount may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.
Your local Pine Castle solar panel installation expert can offer more information about the ITC and how it might apply to your situation.
In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now dubbed the Clean Energy Credit. Homeowners are now eligible for a credit equal to 30% of the total solar system installation costs for projects that began after January 1, 2022 and will be finished by the end of 2032. This percentage will then begin to decrease annually until the Clean Energy Credit ends in 2035. The expansion to the program 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. To fully understand how the new Clean Energy Credit applies to you, get in touch with your local Pine Castle solar installation company.
State & Local Solar Incentives
Rebates, tax credits and more might be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones, too. These solar incentives — which might be provided by the state of Florida, or by your county or municipality — might be offered for only a limited time, or on an ongoing basis.
Next Steps for Installing Solar in Pine Castle
The large number of solar incentives available has contributed greatly to the increase in the nationwide adoption of solar energy over the last 15 years. You can get solar incentives from your local utility company, the federal government or the Florida government. If you're ready to switch over to solar energy, talking to your local Pine Castle solar panel installation expert is a great first step.
EcoWatch's Pine Castle, FL Solar Incentives FAQs
What are the best solar panel installation companies near me?
To find the right solar panel installer for you, check out our guide to the top solar companies in Pine Castle.
What are the environmental benefits of switching to solar?
Solar energy is renewable — by switching where you get your energy, you can help reduce the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 450 pounds yearly, or around 9,000 pounds in 20 years.
When does the federal solar tax credit end?
The federal solar tax credit, previously called the ITC and now called the Clean Energy Credit, is set to end January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
I want to change out my appliances for ones that are more energy-efficient. Are there any credits I can get?
The new Inflation Reduction Act creates several new financial incentives to encourage you to make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I use multiple types of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home, such as a combination of wind and solar. You can also combine renewable energy generation with a non-renewable backup source of energy. Be sure to discuss the details of your plan with your local Pine Castle solar panel installer, to get an understanding of what will be needed and what types of incentives you may or may 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.