Commercial Solar Power Incentives
(Looking for Residential Solar Incentives?)
•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: Eligable applicants can qualify for cash payment in lieu of tax credits through 2010. Under program applicants agree to forgo future tax credits in favor of immediate reimbursement for system place in service be December 31, 2010.
NOTE: The Federal Solar Energy Tax Credit program hab been extended for qualifying systems through December 31, 2010.
*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)
- Florida Public Utilities Company (PDF)
- Gulf Power
- Progress Energy
- Tampa Electric
- Summary from FLASEIA (Word)
- Florida Department of Revenue: (PDF) A Technical Assistance Advisement from the Florida Department of Revenue’s Tax Law specialist
