Miami Solar Incentives, Tax Credits, & Rebates
Solar panels in Miami do a lot more than help keep the environment clean. They also give you energy independence from your utility company as well as lowering your electric bills. On top of that, they also raise your home’s value and give you fantastic long-term savings. And with $0 down financing options, Florida net metering programs, ADT Solar’s 25-year warranties and guarantees, plus the 30% Federal Solar Tax Credit, going solar has never been an easier decision for Miami homeowners. Let’s go through some of the top solar incentives for Miami residents.
- Federal Solar Tax Credit
- Net Metering
- Property tax exemption
- Sales tax exemption
Read more: Are Solar Panels Worth It in Florida?
Federal Solar Tax Credit for Solar Panels in Miami
Thanks to the foresight of the federal government, residents of Miami can take advantage of the 30% savings with the incentives available to help them install solar panels. Starting January 1, 2022, residents who install a solar panel system may be eligible for a 30% solar federal tax credit for the total cost of going solar. This means that you could receive a third of your total installation cost back in tax credits.*
This incentive has helped thousands of Miami homeowners make the switch to green, renewable energy.
Net Metering for Solar Panels in Miami FL
A great way to get the most out of your solar panels is to take advantage of net metering. With net metering, any excess power produced by your solar panels in Miami will be sent to your utility company. They will then credit the excess energy to your account, reducing your electric bill even further.
Currently, Florida government allows for statewide net metering. Florida Power & Light and Duke Energy both provide net metering for customers with solar panels in Miami.
Florida Power & Light (FPL)
The owner of the solar panel system must be a customer of FPL.
The owner must submit all required documentation according to the system’s size prior to interconnection.
There are three tiers for Interconnection.
Tier 1- systems up to 10 kW in size.
Tier 2- systems greater than 10 kW, but less than 100 kW.
Tier 3- systems greater than 100 kW, up to 2,000 kW.
The owner of the solar panel system must be a customer of Duke Energy.
The owner must submit all required documentation and applications. This includes the Interconnection request Online Application.
Depending on the size of the solar panel system, the owner may have to submit additional information for approval.
Property Tax Exemption for Solar Panels in Miami FL
Because the Florida state government knows how important renewable energy is, solar energy systems are property tax exempt. This is great, because solar panels add a lot of value to your property. In fact, for every $1 you save in utility bills, you add $20 in value. That adds up to a lot of value.
So if you live in Miami, Florida, don’t worry at all about property tax. You get to increase your home value, increase your savings, and get a great long-term investment all in one. And all without paying anything extra in property taxes.