Tax Credits in Florida for Solar Power

Florida has a unique and amazing outdoor environment that makes it an ideal location for solar power. They call Florida the sunshine state for a good reason. See what the Florida legislature enacted to encourage Floridians to take advantage of the clean energy produced by solar power resources. Notice what did not happen according to plan as well.

Net Metering

Since July of 2009, all Florida utilities must credit the solar power you generate dollar for dollar. This means any excess energy your panels produce are purchased by your local utility company at the same price they bill you on your electric bill. Classic net metering such as this makes an investment in solar power resources a bit more attractive.


PACE Financing in Limbo

PACE stands for Property Assessed Clean Energy. The state of Florida authorized municipalities and counties to pay for residential solar power systems with special financing terms. PACE Financing website explains that PACE helps homeowners finance solar systems through their city giving them a loan which they repay through their property tax bills over the next 20 years. This requires no up front outlay of cash by homeowners and no reduction of home equity. Repayment occurs while the homeowner experiences reduced power bills.

Due to an announcement by the Federal Housing Finance Agency which states that PACE Financing does not meet Freddie Mac and Fanny Mae requirements, this program is on hold at this time. Contact your local, state and federal representatives if you wish to encourage PACE Financing in your area.

References:

Solar Power Rocks: Florida State Solar Power Rebates, Tax Credits, and Incentives
Pace Financing: What's the Deal Now?


Resources:

"The Energy Chronicle"; University of Central Florida: Florida Energy Center; April 2010
Florida Solar Rebate; Home Solar Power Systems From The Other Dealers Simply Cost Too Much
Solar Estimate: Some Helpful Solar, Wind, Renewable Energy Resources & Links



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Theoretical space needed for solar power plants to generate sufficient electric power in order to meet the electricity demand of the World, Europe (EU-25) and Germany respectively. (Data by the German Center of Aerospace (DLR), 2005)