Commercial Solar Power Incentives
(Looking for Residential Solar Incentives?)
GREAT NEWS FOR SOLAR!
Florida Power and Light received approval from the Florida Public Service Commission (FPSC) to expand its current lineup of energy-efficiency programs for customers. In addition to existing programs, $$$ Cash Rebates will be offered by FP&L this year to help customers install qualifying solar energy systems.
Qualifying systems include:
- Business Solar Water Heating – Cash rebates up to $50,000 to existing customers who install Solar Water Heating systems at their business.
- Business Solar Electric PV Systems - Cash rebates up to $50,000 to existing customers who install Solar Electric PV systems at their business.
NOTE: The availability of these incentives will be limited and will be offered on a first-come, first-served reservation basis. Estimated launch date is June 21st 2011. ACT NOW! CALL FOR DETAILS!
NOTE: The best prepared customers will be in the best position to receive a $$$ Solar Rebate.
•THE COMMERCIAL SOLAR TAX CREDIT
The commercial solar tax credit is 30% of the “tax credit basis” that a company has invested in “eligible property” that is “placed in service during that year". A tax credit is a dollar for dollar reduction of an entity’s Federal tax burden.
NOTE: Not a deduction.
NOTE: Eligible applicants can qualify for cash payment in lieu of tax credits through 2011. Under program applicants agree to forgo future tax credits in favor of immediate reimbursement for system place in service be December 31, 2011.
NOTE: The Federal Solar Energy Tax Credit program hab been extended for qualifying systems through December 31, 2016.
*While we have made great effort to describe these tax incentives accurately, we cannot provide tax advice and suggest you contact your tax professional with any question specific to your situation.
• ACCELERATED DEPRECIATION
Note: A Solar Power System may qualify for accelerated depreciation tax advantages.
• NET METERING
Net metering allows you to draw on utility power when it is needed and to sell power to the utility company when your solar electric system produces a surplus. Net metering legislation states that the utility company must credit you at retail rates (the same rate they would have charged you). Therefore, you will be credited for power fed back to the utility company from your solar power / photovoltaic system at the same kilowatt hour rate at the same kilowatt rate that the power company charges you.
The following links are a reference for investor-owned utilities Net Metering Programs & Fees.
- Florida Power & Light (click “Learn More” under each the three customer Tiers for documents)
- Progress Energy
- Tampa Electric
