2024 Solar Incentives Guide for South Miami Heights, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in South Miami Heights.
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 South Miami Heights 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 South Miami Heights?
Property Tax Abatement for Renewable Energy Property
Non-Residential: 80% of the added value
Florida PACE programs
Lakeland Electric - Residential Energy Efficiency Loan Program
Florida Keys Electric Cooperative - Residential Rebate Program
Ductless Mini Split A/C: 30%
Room A/C: 30 %
Solar Water Heating: 30%
Insulation: 30%
Window Film/Solar Screen: 100%
Caulk/Weather-Stripping: 100%
Cool/Reflective Roof Coating: $25 per 5 gallon bucket
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" refers to a 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. Different types of incentives, such as cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be handled by the state of Florida, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:
- Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also sometimes offer limited-time rebates. Any rebates you receive will usually come off your total price before any tax credits are calculated.
- Net Metering: Net metering becomes relevant once your solar system is up and running. If you have in place a net metering agreement with your South Miami Heights utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in other places you may get refunded a percentage of the value.
- Tax Exemptions: These can come in the form of property tax exemptions, which would allow you to ignore the value added by your solar panels when paying taxes on your home. You could also look for exemptions on sales tax at the time of purchase.
- Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
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, you likely think of federal incentives first. An incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a specific percentage of your solar system's cost.
The ITC applies to solar panels installed after January 1, 2006, on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost – for panels, equipment, accessories and labor – although that amount may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.
To best understand how the ITC may apply to you, speak to your local South Miami Heights solar panel installation expert and request more information.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit has increased the current credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After this, the percentage will see a slight decrease annually until the end of the program in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems with the new act.
Click here to learn more about the new Inflation Reduction Act. Your local South Miami Heights solar panel installer can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Rebates, tax credits and more can be offered at a more local level. Some incentives are offered for only a limited time, while others are ongoing. Local solar incentives could come from your county or municipality, or from the Florida government.
Next Steps for Installing Solar in South Miami Heights
The expanding number of available solar incentives has contributed greatly to the increase in the use of solar power nationwide over the past 15 years. You might qualify for solar incentives from your local utility company, the federal government or the Florida government. Your local South Miami Heights solar panel installation expert can help you learn more about which incentives you might qualify for, and get you started on the path to switching to renewable energy today.
EcoWatch's South Miami Heights, FL Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
In most cases, solar incentives apply to:
- a new solar panel system
- installed on property you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including those given out by the Florida government or by your county/municipality, might have additional qualifications. Talk to your local South Miami Heights solar installer to find out what incentives your project may qualify for.
If I already have solar panels, can I still claim incentives?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Talking to the company that installed your system, or any local South Miami Heights solar installer, can help you learn more about what incentives you might want to apply for.
What are some environmental benefits of installing solar panels on my home?
You can lower your carbon footprint by 450 pounds of CO2 annually by installing solar panels. This adds up to roughly 9,000 pounds in 20 years. Solar is also a renewable energy source, which means that switching your home over lessens the drain on our planet's resources.
Can I use both solar and another type of renewable energy to power my home?
Yes, you can use multiple types of renewable energy to power your home — for example, a combination of solar and geothermal. You can also use both renewable energy sources and a backup source of non-renewable energy. You should discuss your plan with your local South Miami Heights solar panel installer, to get an understanding of what will be needed and what kinds of incentives you will or won't 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.