There are a number of tax incentives to switching to alternative energy in Ocala. Installing a solar power system allows you to take advantage of valuable federal and state tax credits the next time you file your taxes. The Federal Solar Tax Credit allows you to deduct 30% of the total cost of your solar power system from your federal tax bill. There are also a number of state and local solar panel rebates available.
In Florida, the Solar and CHP Sales Tax Exemption offers a sales tax incentive on solar energy systems. Any solar energy system that is purchased must have been certified by the Florida Solar Energy Center. The state also offers a corporate tax credit called the Renewable Energy Production Tax Credit that offers rebates and tax deductions based upon the amount of solar energy that is produced by a corporation’s solar power system.
The tax incentives that are available for renewable energy systems can help you afford to buy a bigger solar system for your home than you thought possible. In addition, you’ll save significantly on your energy bills, and increase your home’s overall resale value.