2025 Solar Incentives Guide for West Park, FL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in West Park.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in West Park?
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/
Solar incentives are intended to make renewable energy usage more affordable through financial incentives for those who install solar panels on their homes. These incentives might include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the state of Florida and some by your utility company, county or municipality. Some solar incentives you might qualify for are:
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Net Metering: Net metering becomes relevant once your solar panels are up and running. If you have in place a net metering agreement with your West Park utility company, it will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in other areas you may get refunded a percentage of the value.
- Tax Exemptions: Sales tax exemptions go into effect at the time of purchase for your solar system. Property tax exemptions allow you to ignore the value that your solar panels add when calculating how much property tax you need to pay.
- Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar panels. States or counties will also sometimes offer limited-time rebates. Any rebates you receive will usually come off your total price before tax credits are calculated.
Federal Solar Incentives
When someone says "solar incentives," you likely think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is likely the best-known federal solar incentive. The ITC allows you to claim a tax credit for 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. Initially, the credit applied to 30% of the total cost – for panels, labor, equipment and accessories – although it may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.
Your local West Park solar panel installer can offer more information about the ITC and how it may apply to your situation.
In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passing of the Inflation Reduction Act. The Clean Energy Credit is valid 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 then decrease slightly on a yearly basis until the current program ends. The expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. To fully understand how the new Clean Energy Credit will apply to you, get in touch with your local West Park solar installation expert.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. Similar to federal incentives, these could include rebates, tax credits and more. Some incentives are offered for only a limited time, while others are ongoing. Your local solar incentives might come from your county or municipality, or from the Florida government.
Next Steps for Installing Solar in West Park
Solar incentives might be offered by the federal government, the Florida government or your local utility company. The growing number of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. Your local West Park solar panel installation expert can give you more information about which incentives you can apply for, and get you started on the path to switching to renewable energy today.
EcoWatch's West Park, FL Solar Incentives FAQs
How do I learn if I qualify for certain solar incentives?
Broadly, solar incentives apply to:
- a new solar panel system
- installed on a property that you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those run by the Florida government or by your county/municipality, might have additional qualifications. Speak with your local West Park solar installer to find out what incentives your project may qualify for.
How much will solar panels save me annually on my electric bill in West Park?
Once you add solar panels to your house in West Park, you can anticipate savings of around $1,084.40 per year, or around $20,603.69 over the next 20 years.
What are some of the environmental benefits of switching to solar energy?
Solar energy is a renewable energy source — by switching where you get your energy, you can help lessen the strain on our planet's resources. A solar system can also reduce your home's CO2 emissions by 450 pounds yearly, or roughly 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 named the Clean Energy Credit, is slated 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.
Can I claim incentives for adding solar panels to a vacation home, rental property or commercial property?
While we recommend talking to your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many incentives will 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 specifically for commercial properties, depending on the details.
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.