Tag: Tax Credit

How Much Solar Do I Need?

How much solar do I need? How many solar panels do I need? These are common questions for anyone looking to install solar power in Florida.

How much solar do I need? How many solar panels do I need? These are common questions for anyone looking to install solar power in Florida. The answer lies in your current energy usage. So, dig out your recent energy bills. Here’s how to work out how much solar you need:

Use Our Solar System Sizer Tool

We’ve got you covered with a handy tool that will calculate how much solar you need. Here’s how it works:

Step 1

  • Get out your energy bills.
  • Take note of the highest, middle and the lowest daily kWh usage. Or, if you have 12 months of bills to view, you can take the highest, middle, and lowest monthly power bills and use those instead. (If you don’t have this information available, your energy company should be happy to provide it to you).

Step 2

  • Use our calculator to calculate your average kWh usage or monthly cost.

Step 3

  • View our chart on our solar sizer calculator to see how much solar you need.

Example Calculation – How Much Can I save?

Here’s a quick example of how much you could save. We’ve used our system size calculator:

  • Highest daily kWh usage: 53 kWh
  • Middle daily kWh usage: 42 kWh
  • Lowest kWh usage: 28 kWh
  • Calculated Annual Kilowatt Usage: 14,965

Using this calculation, our suggested solar system size would be an 11.59 kW system (Florida Power Company’s top seller). With an estimated production of 17,458 kWh per year and 1,455 kWh per month, here are the savings we could make: $2,254 yr / $187.83 a month!

How Many Solar Panels Do I Need?

Don’t worry; we’ll take care of calculating how many solar panels you need based on the optimal setup for your roof, location and how much you need based on your kWh demands.

Why Install Solar Panels?

So, you’ve worked out much solar energy you need. But, what next? It’s time to install your solar system. Here’s why:

Solar PV Reduces Electric Bills

As you’ve seen in our calculations, you’re going to save a lot through energy bill reductions. Using our example, over 20 years, you would save over $45,000! Regardless of your solar system size, you’ll save money. That’s a fact.

It’s a tested and proven method. Take those sun rays and convert them to electricity on your own property. Power your lights, appliances, TVs, computers and more – with your very own solar panels.

Net Metering

Better still, you can get money back through net metering. Net metering is when you feed your excess solar power generation back into the grid. You get rewarded for it by your energy company. Even more savings!

Solar PV is Better than Hybrid Heaters

As the price of solar installations in Florida has dropped in recent years, the benefits of heating your water with solar electricity have gone up. Water heaters are notoriously energy thirsty and a primary cause of high electricity bills.

With solar panels, you’ll be powering your water heater with consistent free energy—no need to worry about those long showers as much anymore. If you’re producing enough electricity, you can have them as long as you want – because you’re not paying bills!

Sunlight Hours for Your Location in Florida:

Worried about whether you’ll get enough sunlight hitting your solar panels in Florida? Fear not, it’s called the ‘sunshine state’ for a reason:

  • January: 6.9 hours
  • February: 8.2 hours
  • March: 8.4 hours
  • April: 9.3 hours
  • May: 10.9 hours
  • June: 10.7 hours
  • July: 10.8 hours
  • August: 9.5 hours
  • September: 8.9 hours
  • October: 7.6 hours
  • November: 6.5 hours
  • December: 6.3 hours

Average daylight hours source.

Average Appliance kWh Consumption

If you want to go deeper into how much solar you need, you can analyze your appliances. On average, annual appliance energy consumption looks like this:

  • Refrigerator: 600 kWh
  • Air Conditioning Unit: 215 kWh
  • Central Air Conditioning:1,000 kWh
  • Electric Vehicle: 3,000 kWh
  • Heated Swimming Pool: 2,500 kWh
  • Hot Tub (outdoor): 3,300 kWh
  • LED TV: 432 kWh
  • Desktop computer: 194 kWh
  • Laptop: 150 kWh

What Affects Solar Panel Efficiency?

Many factors come into play here—for instance, the angle of your roof or shade from nearby trees. At Florida Power Services, we always design solar systems to provide optimal year-round energy production.

The quality of the panels also matters. Some companies use cheaper materials than we do, which results in poor absorption of those sun rays. Be wary of entire solar roofs made of solar tiles, too; their aesthetic qualities come at the price of less being efficient than regular solar panels.

What About Battery Size?

Solar batteries capture the unused solar power generated during the day, saving it for when you need it at night or during low-sunlight days. When planning battery setup, we consider:

  • Your average kWh demands.
  • How long you’ll need the battery to provide power for during the night or cloudy days.
  • The best return on investment for your plans, so you can begin to make a profit ASAP.

Grid or Off-Grid?

A significant factor in decking your solar power system setup and size is whether you want to be connected to the electricity grid or not. If you’re grid-tied, you have the space to rely on the grid’s energy at all times, including during the night.

But if you go off-grid, you need to be sure you’ll have enough energy throughout the day – so usually, more space is given for extra kWh demands.

Off-grid solar systems are completely disconnected from the main grid. They’re often used by people looking to live in rural areas with a 360 green vision. Solar batteries are a must in off-grid solar systems and usually require more solar capacity than grid-tied systems.

Act Now to Save Thousands of Dollars in 2021!

You could pay thousands of dollars on your solar installation in Florida if you delay.

That’s because of solar tax incentives in Florida. In 2021, you can save 26% on your solar installation costs. On a $30,000 installation, that would be $7,800!

By 2024, the federal solar tax credits will drop to 0%! We’ve seen customers in the past regret delaying their installations, as they missed out on higher tax credit savings. Don’t miss out!

Read our in-depth here to see if you’re eligible for 2021 Solar tax credits in Florida.

Solar Power Installation in Florida

Are you interested in installing solar power in Florida? Contact us today! Call (727) 667-9955 or schedule a consultation.

With decades of experience, we’ll help design and install the optimal solar system that brings you the best return on investment.

Florida Power Services “The Solar Power Company” is the Sunshine’s states leading solar power installer and would love to help you save thousands of dollars in 2021.

Top Reasons Why Local Florida Solar Companies Are Often Best

If you’re ready to invest in a Florida solar installation, then congratulations! You’re on the way to saving thousands of dollars.

If you’re ready to invest in a Florida solar installation, then congratulations! You’re on the way to saving thousands of dollars. But next, you’ll need to decide which Florida solar company to use. Which is best? Here’s a look at why choosing your local Florida solar installation company will pay off:

Local Solar Company or Tesla?

That’s probably the first question that comes to mind. Understandably so. Tesla’s marketing has made them a household name across the world. Their owner has his hand in cars, solar roofs and even space rockets. But, in our opinion (and our customers’) that doesn’t make them the best Florida solar company. Here’s why:

1) Better Warranties

Local providers such as Florida Power Services “The Solar Power Company” offer a 25-year warranty on all equipment including end phase inverters (10 year on the installation). While Tesla Solar offers just a 10-year comprehensive warranty.

Tesla’s 25-year warranty only covers the panels. So solar inverters, batteries, roof mountings and leaks repairs will all have to come out of your pocket after ten years! Yikes!

If you go local with Florida Power Services “The Solar Power Company”, you could save thousands of dollars in repairs over the next 25-years as we take care of our customers like we always have done. We care.

100% Guarantee

Go local and you’ll also get a 100% guarantee. That’s because local Florida solar companies are confident about their ability to perform to a high standard AND because, once again, they care. They don’t want to see you left out of pocket with a flawed solar system.

2) Local Florida Solar Companies Are Often Cheaper

We could list hundreds of reasons why local might be better than big-name solar providers, but obviously, a major consideration is always the price.

According to a study by National Renewable Energy Laboratory (NREL), larger solar installers were shown to give a higher quote than smaller, local installers 70% of the time. Those quotes were 10% more on average too!

“Large installers offered a higher quote price than a corresponding non-large installer in about 70% of pairings.”

We always advise you to consider your local Florida solar company and ask them for a quote. Who knows, maybe you’ll save thousands?

3) No Middlemen

When you go local for your Floria solar installation, you avoid frustrating communication issues. Big multinational companies are known for having call centers or, worse, online no-reply systems.

We’ve seen countless reviews of other companies where the customers are left with significant problems (even leaking roofs) and problematic customer service.

As a local solar provider, we pride ourselves on making customer needs a priority from start to finish – and beyond!

You’ll always speak to a human. Our owner speaks directly to you about your solar vision and never hands your over to an external sales team. You’re always in direct contact with the people completing the work.

That saves you time, energy and potentially dollars when it comes to problems and repairs.

4) Custom Designs that Fit Your Home

For local Florida solar companies like us, quality is more important than quantity. We care about making every Florida solar installation a success. Some other companies sometimes compromise on the smaller details to move more sales.

We avoid cookie-cutter approaches and design solar systems for your vision, bringing:

  • Durability
  • Aesthetics
  • Optimized energy output.
  • Fully off-grid systems, which many big names can’t provide.

5) You Won’t Get Oversold.

Say you want a roof of solar panels? That doesn’t necessarily mean you want an entirely new roof built, right?

That’s exactly why we only build and charge for what you want. So, you don’t waste thousands on a solar roof featuring an entirely new roof that you didn’t actually want or need.

6) You’re Helping Your Community

When you opt for your local Florida solar company rather than a massive international billionaire back company, you’re helping your community with:

  • A greener local community with fewer carbon emissions
  • More jobs
  • Helping to maintain the American dream in your community
  • Backing a company that has been serving locally for nearly two decades, to continue.

As a local Florida solar company, we’re facing heavy competition these days from big-name companies. But thanks to local Florida residents, we’re still here, making homeowners and businesses in our community greener and happier year by year.

Plus, that money you spend locally gets injected back into the community because we live here. It’s spent locally, not sent to some billionaire’s pockets.

7) Dedicated Solar Installation Crews

Local Florida solar installation companies don’t use external contractors. So, you know that the team that turns up is:

  • The same team that you’ve read all the reviews about.
  • Highly, trusted and experienced.
  • Not out-of-town, part-timers.
  • They have solar knowledge.
  • Reports directly back to their boss

Those last two points are important. Many bigger companies use teams of roofers or contractors who actually know very little about solar. Local teams do. They’ve been on the job for years, not just drafted in to fill vast demands.

Reporting back to the boss also creates a level of accountability that simply doesn’t exist with national companies. In fact, with Florida Power Services, our owner visits your property and is often on-site during the work.

8) We Understand Your Local Area

Every neighborhood and town has its own unique challenges. That might not seem important when it comes to solar installation, but you’d be surprised.

We’ve worked throughout Florida on all kinds of roofs and know the demands of different tile and shingle types.

Because of our experience, we ensure the most suitable materials are used and the setup is perfect for optimizing the sun’s rays in your area.

We also think about potential storms and wind speeds. National solar companies are cookie-cutter setups that often ignore the demands of each location.

9) Local Often Has Better Ratings

Simply put, take a look at our ratings compared to Tesla Solar. 4.48 vs 2.88 (out of 5 stars).

Why? Because we have a reputation to uphold that is built upon caring about people like you. If you use a bigger company, you’re just a drop in the ocean to them. So when things go wrong, it might not be as big a deal as it is to us.

10) Local Often Use the Best Materials

We also use materials and components of the finest quality, to ensure your solar roofs is: A) Running optimally and B) Less likely to hit problems and need repairs.

In the long run, that saves you thousands of dollars through better energy performance and less repairs once your 25-year warranty is expired.

11) Affordable and Up-front Pricing

The best local Florida solar companies will offer ways to help you maximize your savings! We offer no money out-of-pocket solar loans at .99%, for example.

The solar company should always be honest about costs and never tack on extra charges. It’s well documented that big companies have made sudden price changes. We don’t do that.

Now Is The Time to Act! – Save Thousands of Dollars

If you’re interested in a Florida solar installation, now is the time to act.

That’s because this year you can save 26% through solar tax incentives in Florida. On a $30,000 installation, that would be $7,800!

Why act fast? Because those incentives are dropping year by year. By 2024, they’ll be 0%!

In recent years, we’ve seen many customers regret not acting fast enough to make those savings. You can read out in-depth here to see if you’re eligible for 2021 Solar tax credits in Florida.

Solar Power Installation in Florida

Interested in a local Florida solar company that saves you thousands, cares about your vision and helps the local community? Contact us today! Call (727) 667-9955 or schedule a consultation.

Florida Power Services “The Solar Power Company” is the Sunshine’s states leading solar power installer and would love to help you save thousands of dollars in 2021.

TECO Is Going Solar, But You’re Paying the Bill!

Tampa Bay Electric Co.’s customers are set to see painful rate hikes over the next year, as the company covers its costs for investing in solar.

Tampa Bay Electric Co.’s customers are set to see painful rate hikes over the next year, as the company covers its costs for investing in solar.

In a recent notice to regulators, the Hillsborough County power company stated its plans to charge customers between $280 and $295 million from 2022.

Tampa Bay Electric Co. Continues Raising Rates

Regulators are likely to approve this request, causing customer rates to increase to an estimated $124.30 per 1,000 kilowatt-hours.

That’s up 18% from 2021!

And, that’s on top of already increasing the rates by 8% from 2020.

Why Are TECO Raising Energy Bills?

Last year Tampa Bay Electric Co. said their new 8% increase in rates was due to natural gas. This year, it’s because they’re investing in solar.

They’ve recognized that the climate crisis is calling for a future of electricity, green and solar. It’s inevitable.

The company is on track to generate 14% of its power from solar energy until 2023. That’s thanks to 1,200 megawatts of solar power.

But they’re conveniently keeping quiet their expensive payments towards grid fortification. And natural gas prices keep rising.

Customers Paying the Bill

Sadly, it’s their customers who are having to foot the bill – for the second year running.

TECO’s plans to build 1,200 megawatts of solar power by 2023 “will provide enough energy to power 200,000 homes”.

But, unlike having your own solar power system, you’ll have to keep paying an energy bill while the company enjoys those savings.

TECO also has Solar plans coming up for next year, in the fourth phase of their current solar expansion. So expect painful increases on your TECO bill next year too.

Insulate Yourself From Rising Power Rates in Tampa

As Tampa Bay Electric Co. forces its customers to foot the bill for installing new solar panels, many customers are taking the alternate route – investing in their own solar panels.

Rather than paying for a company’s solar panels, which provide just 14% of clean energy, you could enjoy your own green and clean home of the future – with FREE power.

How Much Could I Save If I Install Solar in Tampa?

If, for example, your average monthly power bill is $160.50, if we factor in the average annual inflation rate of 4%, you will be forking over $85,454 to the power company in the next 25 years.

If your monthly utility bill in Tampa averages $160.50:

Your estimated monthly solar loan payment would be: $125.66

With no money out of pocket you can save $418 a year, and potentially qualify for federal tax credits worth an estimated $9,008.22

You could enjoy a 6.9 year Return on Investment and Enjoy free power for over 18.1 years!

Don’t Miss Out on 26% Reductions!

Thanks to Federal Tax Credits on Solar Power Installations in Solar, you can enjoy a massive 26% reduction this year!

That’s the equivalent of $7,800 on a $30,000 installation.

But only if your installation starts before December 31st, 2021. By 2023, those reductions will drop to 0%.

Boost Your Property Value

So why not consider putting your hard-earned cash towards your own property, not TECO’s. Aside from that clean and FREE energy, you could also enjoy massive property value boosts.

For every $1,000 saved in annual electricity through Solar in Tampa, your home’s value can increase by $20,000. Your investment could pay for itself, fast!

In the future, homeowners will want pre-installed solar systems to avoid the hassle of installation costs and waiting on ROI. We’re already seeing real estate investors choose solar homes over outdated homes.

Avoid Fluctuating Rates

Understandably, TECO customers are annoyed at their rates changing for the second year running. Why should they have to pay for something beyond their control?

Although they can go up and down, TECO has now pushed rates up by 26% in just 3 years.

We’re also seeing rising solar equipment prices thanks to COVID and material shortages throughout the world.

By installing your own solar panels in Tampa, you can gain control over how much you pay and stop worrying about fluctuating rates that eat into your wallet.

TECO Can See the Solar Boom Coming

One thing we can’t criticize TECO for is their idea of going solar. We just don’t like seeing Tampa folk pay for it.

But solar is the future. TECO’s investments are evidence of that, so Tampa residents should act now to invest before the solar boom begins.

By getting ahead of the game, you could benefit from lower rates now and cash in on massive property value boosts.

As they say, you get rich by buying in before it hits mainstream news.

Tampa is Perfect for Solar Panels

It’s about time Florida power companies started investing in solar power, as our state has perfect conditions for collecting the sun’s rays.

On average, in Tampa there are 246 days of sunshine. That’s far higher than the US average of 206.

Solar systems are also great at providing you with electricity during hurricanes and storms. While the grid is down, solar owners with battery bank systems can enjoy electricity to protect themselves or stay entertained.

The Bottom Line

  • TECO’s rates are rising for yet another year – at 18% since 2021!
  • You can avoid paying for an investment that doesn’t benefit you, by installing solar.
  • Say goodbye to fluctuating solar rates.
  • Enjoy FREE electricity with your own solar power system.
  • Make money through net metering.
  • Save thousands of dollars through Federal Tax Credits (26% in 2021!)
  • Boost your property value considerably.
  • Stay ahead of the Solar boom.

Solar Power Installation in Tampa, FL

If you want to avoid paying TECO’s rising rates and instead boost your property value while enjoying FREE electricity, then contact us today for solar power installation in Tampa, FL.

Florida Power Services “The Solar Power Company” is the Sunshine’s states leading solar power installer and would love to help you save thousands of dollars.

Solar Tax Incentives in Florida – Act Before Summer 2021!

If you’re looking to go solar in 2021, then solar tax incentives in Florida can help with the installation costs in the form of a tax rebate.

If you’re looking to go solar in 2021, then solar tax incentives in Florida can help with the installation costs. But, you need to act fast – both to gain solar tax credits and to avoid volatile solar equipment price increases.

Here’s why you need to lock in pricing now:

Solar Tax Incentives in Florida 2021

Solar tax incentives in Florida are fantastic for anyone installing new solar panels and batteries in 2021. Regardless of how much your solar installation costs, they will save you thousands of dollars.

This year, you can save 26% thanks to solar tax incentives in Florida. That’s the equivalent of $7,800 on a $30,000 installation.

The Time to Act is Now!

But time is always running out. Each year the solar tax incentives in Florida drop. By 2023, it will be 22% and in 2024, 0%!

There is no guarantee the recent extension to solar tax incentives in Florida will happen again. Solar tax credits have been slashed for years – it was 30% back in 2019.

We’ve had many customers regret delaying back in 2019, as they pay far higher now. Make sure you’re not one of them. Act now and save thousands of dollars.

Solar Equipment Price Rises!

COVID-19 has been reaping havoc on the solar power industry too – and that has had a knock on effect on customers.

Key materials, panels and shipments have all been delayed since the start of the pandemic leading to high competition in the U.S.

That’s caused prices to rocket and customers forced to either face long waiting lists or pay over the usual price.

The fear now is that solar equipment prices are forecast to rise again this summer!

Glass Shortage Crisis

Countries like India and Australia are already feeling the heat, as China faces a worrying glass shortage. That’s caused glass prices to rise by 71% since July 2020 and we could be about to see the same situation this year.

Some forecasts suggest the solar industry could be 20-30% short of glass until summer 2022 – so act now to avoid these rising costs!

Problems in the manufacturer of modules have also caused rising costs throughout the industry.

Make Sure You’re At the Front of the Queue!

With COVID-19’s impact on everyday life hopefully reaching its conclusion soon and people ready to return to spending their earnings and stimulus checks, there is likely to be a queue for solar power installation.

With Florida Power Services, we’re well-stocked to serve your installation in 2021. But we urge you to act fast and avoid the competition we expect later.

Being stuck on a waiting list could see you miss out on 2021’s solar tax incentives in Florida, and the same goes for 2022. Whether you’re a homeowner or a commercial property owner, being at the front of the queue could be the difference between spending thousands of unnecessary dollars and saving thousands.

Am I Eligible for Solar Tax Incentives in Florida?

In order to save thousands of dollars in 2021 through solar tax incentives in Florida, you need to be able to say yes to the following criteria:

RESIDENTIAL SOLAR TAX CREDIT REQUIREMENTS

  • The solar installation must start before the end of 2022 and provide energy for your home.
  • You must be the property owner, not a tenant.
  • You must own the solar panels, not be leasing them.
  • All electrical and fire code requirements must be met.
  • Solar systems purchased with loans are also eligible.

BUSINESS SOLAR TAX CREDIT REQUIREMENTS:

  • The solar installation must start before the end of 2022 and provide energy for your home.
  • The solar system must be used by someone paying U.S. income taxes.
  • The above does not apply to schools, charities, churches and other tax-exempt organizations.
  • The energy generated cannot be used to heat a pool.

What Expenses are Covered by Florida Solar Tax Incentives?

You can save 26% on the following Florida solar installation expenses:

  • Solar PV panels or PV cells
  • Contractor labor costs for everything from onsite preparation to permitting fees.
  • Installation and balance-of-system equipment, including wires, mounting and inverters.
  • Energy storage devices charged exclusively by solar panels – such as battery backup banks or off-grid battery systems.

How Do I Claim Solar Tax Credits?

When filing your tax return, you should:

  • Check your installation starts before December 31, 2021.
  • Collect any receipt related to the cost of solar installations and solar power.
  • Fill out the IRS Form 5965.
  • Add the Tax Credits to Form 1040.

Florida Solar Tax Incentives on New Residential Homes

If you’re a homeowner who bought a newly built home in 2021 with solar and owns that system, then you’re eligible for Florida Solar tax credits.

However, if you lease the solar system or purchase electricity from the system through a power purchase agreement (PPA), then the tax credits will be claimed by the company that leases the system or provides the PPA.

Consider Our Fixed Rate Solar Loans in Florida

Want more financial help? Then consider our Florida fixed rate solar loan – at just 0.99% APR!

Your monthly payment will be less than the utility bill, ensuring you can install solar in Florida ASAP and start earning money back through net metering.

Limited Funding Available

Our fixed-rate solar loans in Florida are limited, so you need to act fast to secure your spot soon before someone else does!

Our relatively new financing option has gathered significant interest, so places are going fast.

Solar Power Installation in Florida

If you need help with your Solar tax incentives in Florida or are interested in a solar power installation in Florida, then contact us today.

Florida Power Services “The Solar Power Company” is the Sunshine’s states leading solar power installer and would love to help you save thousands of dollars in 2021.

One last reminder if you didn’t get the memo: Lock in pricing now! No delays, no regrets!

26% Solar Tax Credits Extended until 2022!

Congress has passed a bill for a two-year extension on its solar investment tax credit (ITC) facility until the end of 2022. This allows you to benefit from 26% savings on Florida solar installations for the next two years. Here’s how it works:

Why The 26% Solar Tax Credit Extension Is Great News

If you’re looking to invest in solar panels in Florida, this announcement is about to save you thousands of dollars – regardless of how much your solar installation costs.

The Solar Tax Credits were set to drop to 22% at the start of 2021 and then completely expire at the start of 2022. Property owners had been rushing to get solar installations started quickly, with many set to entirely miss the savings chance.

Now, things have changed. Everyone has two more years to receive 26% reductions on everything from solar panels to battery banks and service costs! Here’s how much you could save:

How Much Can I Save with Solar Tax Credits:

Until 2022, you can receive a 26% reduction on your solar power installation in Florida costs. For example, if your solar installation costs $10,000, then you could receive Solar Tax Credits of $2,600 – reducing your costs significantly.

26% of $10,000 = $2,600 in Solar Tax Credit savings

The 26% savings cover all labor, equipment and installation costs. The credits can also be carried forward to the next tax year if you can’t take the full credit in the year the Florida solar installation occurred. The IRS has also shared guidance that solar battery systems are eligible for Solar Tax Credits.

When Do 26% Solar Tax Credits End?

Be warned; the 26% solar tax credits will expire at the end of 2022. From 2023, it will drop to 22% before dropping to 0% in 2024 (except for commercial properties that can receive 10% in 2024).

Year Federal Solar Tax Credit Savings Savings on $30,000 Installation (For Example)
2021 26% $7,800
2022 26% $7,800
2023 22% $6,600
2024 0% (Or 10% for commercial solar) $0

Why You Should Act Now!

There is no guarantee that the extension will happen again, especially as this extension was part of the COVID relief bill. Despite the extension, solar tax credits have been dropping for years. We all miss the 30% reduction of 2019.

Time moves fast and frankly, many future solar owners have got lucky here, after stalling on taking advantage of the 26% tax credits when they looked set to expire at the start of 2021.

Act now and don’t miss out on saving thousands of dollars!

What Can Solar Tax Credits Reduce the Costs Of:

Thanks to the solar tax credit reduction, solar suddenly becomes far more affordable for a broader range of incomes. Whether you’re a homeowner or commercial property owners, here are where these savings can help:

  • Solar Power Installation Fees
  • Solar Equipment
  • Permitting Service Costs
  • Permit Fees
  • Roofing Fees
  • Shipping Costs
  • Engineer Fees
  • Electrician Fees
  • And More

Am I Eligible for 26% Solar Tax Credits?

With the new bill passed, the eligibility requirements haven’t changed. If you can say yes to the following criteria, then your solar installation will be eligible for the 26% solar tax credits until the end of 2022.

Residential Solar Tax Credit Requirements

  • The solar installation must start before the end of 2022 and provide energy for your home.
  • You must be the property owner, not a tenant.
  • You must own the solar panels, not be leasing them.
  • All electrical and fire code requirements must be met.
  • Solar systems purchased with loans are also eligible.

Business Solar Tax Credit Requirements:

  • The solar installation must start before the end of 2022 and provide energy for your home.
  • The solar system must be used by someone paying U.S. income taxes.
  • The above does not apply to schools, charities, churches and other tax-exempt organizations.
  • The energy generated cannot be used to heat a pool.

Are Solar Batteries Eligible for 2021-22 Solar Tax Credits?

Batteries and energy storage systems are covered for solar tax credits, but only if solar panels power them.

  • Residential owners can receive a solar tax credit if 100% of the storage’s charge is provided by solar power.
  • Commercial owners can receive a tax credit if at least 75% of the storage’s charge is supplied by solar power.

How Do I Claim 26% Solar Tax Credit Savings?

When filing your 2022 tax return, you should:

  • Ensure your installation starts before December 31, 2022.
  • Collect any receipt related to the cost of solar installations and solar power.
  • Fill out the IRS Form 5965.
  • Add the Tax Credits to Form 1040.

What Is The New Solar Bill?

The solar tax credits extension was included in a massive $1.4 trillion federal spending package, alongside a $900 billion COVID-19 virus relief spending bill.

Congress passed the bill in late December 2021, which included $35 billion of support for energy research and development programs. There has also been a one-year extension for wind power tax credits. This is excellent news for all involved in the clean energy industries and shows once again that the future is clean energy.

It provides welcome relief for the solar industry following COVID-related economic disruptions that hit solar installation companies and those looking to install solar panels, particularly hard.

The ITC was initially started by the Energy Policy Act of 2005 and has been helping the U.S. transition to a renewable energy economy ever since. It ensures that Florida’s solar power installations will continue to grow over the coming years.

Take Advantage of 26% Solar Savings in Florida

As the leading solar installation company in Florida, we can guide you towards making optimal savings for your solar installation. In recent years we’ve helped hundreds of Florida residents and commercial property owners take advantage of federal tax credits on time.

Schedule a consultation with Florida Power Services “The Solar Power Company” today, and we’ll answer any questions you may have and can install a solar system that ensures your property is built for the future!