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The solar tax credit allows homeowners to deduct 30% of solar panel costs.

Reduce Your Taxes By 30% With Solar Tax Credit

solar tax credit in Florida
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    In December of 2020, Congress passed an extension to the solar tax credit that allows homeowners to deduct a percentage of solar panel costs from their federal income taxes. This includes the cost of purchasing solar panels, installation, setup, and more. Currently, homeowners can deduct 30% of solar costs – an average of $9,000 in savings from just this tax credit.  

    What Qualifies For The Solar Tax Credit?

    According to Energy.gov, the following expenses qualify for the solar tax credit:

    • Solar PV panels or PV cells used to power an attic fan (but not the fan itself)
    • Solar Contractor labor costs, assembly, installation, permitting fees, inspection costs, and developer fees
    • Balance-of-system equipment, including wiring, inverters, and mounting equipment
    • Energy storage devices that are charged exclusively by the associated solar PV panels

    For most Florida homeowners, this means all costs associated with installing solar panels will qualify for the solar tax credit. Furthermore, taking advantage of a net metering program does not exclude you from claiming the tax credit. 

    Florida also offers additional tax breaks to homeowners that can be combined with the federal solar tax credit! Access our free guide on Florida Solar Tax Credits to learn more. 

    How To Claim The 30% Solar Tax Credit

    You will need to complete the IRS 5659 form when you file your taxes to claim the solar credit or let your accountant know. To be eligible for the solar tax credit, Florida homeowners must meet the following set of guidelines. Keep in mind that the federal solar tax credit can only be claimed on the “original installation” once.

    • Your solar system was installed prior to December 31, 2033
    • The solar system is located at your primary or secondary residence in the United States
    • You own the solar system – this means you purchased it with cash or through financing but you are not leasing the equipment
    • The solar photovoltaic system is new or being used for the first time. 

    How Much Can You Save By Switching To Solar?

    The federal solar tax credit, net metering programs, and special financing offers make it a no-brainer for Florida homeowners to make the switch to clean energy. How much can you save? Request a free solar energy audit and let our experts analyze your home’s needs and calculate your total savings. Schedule online by clicking the button below!

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    About Raze Solar

    Our mission is to make homeowners’ lives better. We believe this starts with harnessing the power of solar energy. By reducing electric bills and limiting dependence on fossil fuels we are engineering a better future, one house at a time.  Connect with us on Facebook and Instagram to learn more about us and see how we’re helping Florida homeowners make the switch! 

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