Solar Tax Credits and Rebates

As a homeowner in Florida, you’re in a prime location to harness the abundant power of Solar Energy Savings. The Solar Investment Tax Credit (ITC), can make this switch to renewable energy even more appealing.

The Solar Tax Credit is a federal initiative established in 2005 that allows homeowners to deduct a portion of their solar PV installation costs from their federal taxes. This policy is designed to encourage the growth of renewable energy across the country. Here’s a closer look at what this means for Florida homeowners, based on information provided by the U.S. Department of Energy:

In addition to drastically reducing your electric bill, the federal government will help you pay for it! You can receive up to 30% in fact with a Solar PV System.

Eligibility for the Tax Credit:

To be eligible for the Solar Tax Credit, you must own your home and the solar PV system. Your solar PV system needs to have been installed between January 1, 2017, and December 31, 2034. If you’re leasing your solar system, you’re not eligible for this tax credit. Furthermore, the system must be new and installed on your primary residence.

Claiming Your Solar Energy Savings:

Claiming the Credit involves a few steps. You must first verify your eligibility, then calculate the credit based on the current percentage of your solar PV system’s cost. The next step is to fill out IRS Form 5695, ‘Residential Energy Credits,’ and include the result when you file your federal tax return.

Remember, while this guide provides a comprehensive overview of the Solar Tax Credit, you should always consult with a tax professional to understand how this tax credit applies to your specific circumstances. Harnessing Florida’s sunshine for renewable energy not only benefits your wallet but also contributes to a more sustainable future.

Here is the link to download form 5695: http://www.irs.gov/pub/irs-pdf/f5695.

Raffaela Vassas

27/08/2022

They are wonderful. Came and fixed the leak I had in my solar heat. They also checked all the pipes on the roof to make sure everything was good. I would definitely recommend them. Can't thank them enough.

Joseph Vano

03/08/2022

Randy's team installed a new solar panel system on our roof. They were very fast and responsive. From quote to meter swap it was 7 weeks, which is incredibly fast compared to what other solar companies were estimating. They also gave the best panels and microinverters with competitive prices from my research. I highly recommend them if you are looking for a new solar panel installation.

Ronald Barthelt

02/08/2022

My system has been in for almost two weeks and I am very happy. Price was very fair and the quality of work was excellent. My goal for this project was to lower my FPL bill each month for now with the intention of expanding next year to fully cover the costs of charging an electric car. There was good communication from start to finish and the owner of the company was quick to respond to any questions I had. Solar was something I have been thinking about for years and it was finally time to get some quotes. The salesmen they sent out was quick to put together an estimate and from there it was just a matter of waiting for the permits to be approved. The install went fine and the worst part was looking at the new system sitting on the roof waiting for FPL to swap out the meter to a new one so I could turn it on. I wanted all my panels facing south but a few had to go on the west and east. Surprisingly the west and east panels almost make as much energy as the south facing ones. I have an app on my phone and I can monitor all the outputs of the system day by day. My 7.2kw system is collecting over 40kWh per day in full sun...on a cloudless day. 40kWh covers almost all my daily usage in the summer. I want to thank Affordable Solar for a good experience in a post Covid mess of a world. I will be calling them back when I am ready to expand my system next year.

Scott Lewit

23/07/2022

Had to have a reproof done. Affordable solar was great. Quickly took off the panels and quickly put them back when the roof was ready Highly recommend.

Don Coulson

07/06/2022

After dealing with mutiple solar companies in the past i have been very hesitant to rely on anyone that claims they "do" solar. After doing business with Affordable Solar Services I have faith in the industry again. I Hired this company to re-install a solar hot water collector after a re-roof. The crew that showed up was very knowledgable, professional and willing to answer all of my questions. before starting the job. The install went great and looks good on my new roof. I am rarely this satisfied with customer service these days. I 100% recommend these guys!

Elizabeth Lasko

26/05/2022

I first purchased a water-heater from Affordable Solar Services. They were knowledgeable and experienced salesmen. Quality installation and cleanup. Attentive to any questions and concerns. Great company and great service. Randy is punctual, friendly, honest, and awesome. I loved them so much, I am a return customer for pool panels. We definitely get more use out of the pool. I'm sure I'll return when the time is right for PV. 100% amazing and recommend!

Chris O'Brien

25/04/2022

We have been using this company for years now, as all the other solar companies have come and gone. Give these guys a call if you have hot water heater or solar panel problems! Thanks for the great work!