Florida Net Metering

Florida provides a system by which solar panels or other renewable energy generators are connected to the grid, allowing customers to offset the cost of the power they draw from the utility with credits they earn on their production. In Florida, unlike other locations, there are no limits on net metering capacity, so every home in a neighborhood could be connected to the grid. As a result, when your solar system generates more power than you require, the grid takes it, and you will see a credit on your electric bill.

Florida Property Tax Exemption

When you install a solar electric system, the value of your home increases. Homeowners in Florida enjoy a property tax exemption that allows them to pay property taxes at the rate they paid before the solar installation. The value of their home will not be reassessed. For residential properties, the exemption is 100% of the increased value. It is 80% for nonresidential installations.

Florida Sales Tax Exemption

In Florida, there is no sales tax on the purchase and installation of a solar energy system. This means up to 7% savings.

Increase in Home Value

Having a residential solar energy system on your property is known as a capital improvement, which adds to your property’s value*. This means that you can potentially sell your home faster and for more than homes without solar. Your investment in efficient, clean solar power also adds to the tax basis of your home. Should you decide to sell your home, you have the option to deduct this tax-basis investment from the sales price, thereby decreasing the percentage of the price considered as profit. This reduces the taxes** taken from the sale and may be able to help you avoid capital gains taxes on appreciation.

*Visit study **Please consult your tax advisor regarding your individual tax situation and eligibility for an income tax credit.