2023 Solar Incentives Guide for Vero Beach South, FL - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Vero Beach South.

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.
Get a free quote from one of our trusted Vero Beach South solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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 Vero Beach South?

Solar and CHP Sales Tax Exemption

Incentive Type:
Sales Tax Incentive

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

Florida PACE programs

Incentive Type:
PACE Financing
Determined locally

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/


Solar incentives are intended to encourage people to switch to renewable energy by providing financial incentives meant to lower the burden of solar panel installation and use. Incentives can include things like discounts, cash back or credit on your utility bill each month. Some incentives are handled federally, while others are handled by the state of Florida or by your utility company, county or municipality. Types of solar incentives might include:

  • Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar panels. States or counties will also offer limited-time rebates at various times. The value of a rebate will usually be deducted from your total price before tax credits are calculated.
  • Tax Exemptions: Tax exemptions may come in two forms. The first is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption. This allows you to exclude the added value of your solar system when calculating property tax for your house.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the government. These are different from tax deductions.
  • Net Metering: You can sign a net metering contract with your Vero Beach South utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then deduct this value from your monthly utility bill.

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

When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. 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 predetermined percentage of the cost of your solar system.

The ITC applies to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost — for panels, equipment, accessories and labor — although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.

Reaching out to your local Vero Beach South solar panel installer is the best way to learn more about how the ITC could apply to you.

The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. For solar systems installed between January 1, 2022 and December 31, 2032, homeowners may be eligible for a credit for 30% of the total cost. This percentage will decrease annually after 2032 until the Clean Energy Credit expires in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.

Click here to learn more about the new Inflation Reduction Act. Your local Vero Beach South solar panel installation experts can answer any questions you have and explain how the new Clean Energy Credit may apply to you.

State & Local Solar Incentives

Some solar incentives are often also offered at the local or state level. Like with federal incentives, these can include tax credits, rebates and more. Incentives may be given by your county or municipality, or by the state of Florida. Some incentives may be available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Vero Beach South

The large number of solar incentives available has helped tremendously increase the nationwide adoption of solar energy over the past 15 years. You may receive solar incentives from the federal government, the Florida government or from your local utility company. Your local Vero Beach South solar panel installation expert can provide you with more details about which incentives you should apply for, and get you started on the path to switching to renewable energy today.

EcoWatch's Vero Beach South, FL Solar Incentives FAQs

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

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

If I already have a solar system installed on my house, can I still claim incentives?

You should plan to talk to the company that installed your system — or get in touch with a local Vero Beach South solar installer — to better understand 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. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

What are some of the environmental benefits of switching to solar?

You can reduce your carbon footprint by 450 pounds of CO2 annually when you switch to solar panels. This adds up to approximately 9,000 pounds over 20 years. In addition, solar power is a renewable energy source, meaning that switching your home over lessens the drain on our planet's resources.

I want to change out my appliances for ones that are more energy-efficient. Are there any incentives I can apply for?

With the passage of the new Inflation Reduction Act, there are several new financial incentives that are available when you 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 utilize multiple types of renewable energy to power your home — for example, a combination of geothermal and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. You should discuss the details of your plan with your local Vero Beach South solar panel installer, so that you understand what you'll need and what kinds 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.

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