You can receive an energy tax credit in Florida and gain rebates and incentives when you install solar panels on your roof. Learn more about your possible solar energy rebates and incentives with Smart Solar’s FAQs below:
A: Yes, the residential energy efficient property credit allows for a credit equal to the applicable percentage of the cost of qualified property. Qualifying properties are solar electric property, solar water heaters, geothermal heat pumps, small wind turbines, fuel cell property, and, starting December 31, 2020, qualified biomass fuel property expenditures paid or incurred in taxable years beginning after that date. Only fuel cell property is subject to a limitation, which is $500 with respect to each half kilowatt of capacity of the qualified fuel cell property. Generally, this credit for alternative energy equipment terminates for a property placed in service after December 31, 2023. The applicable percentages are:
A: In general, traditional roofing materials and structural components do not qualify for the credit. However, some solar roofing tiles and shingles serve as solar electric collectors while also performing the function of traditional roofing, serving both the functions of solar electric generation and structural support. Such items may qualify for the credit. Components such as a roof's decking or rafters that serve only a roofing or structural function do not qualify for the credit.
IRS guidance issued to the energy credit under section 48 in publication items such as Notice 2018-59 has no applicability to the residential energy efficient property credit under section 25D.