Costs & Incentives
Going Solar Has Never Been More Affordable
$0 Down Financing
There are several financing options available for little to no money down and flexible terms. The most popular option is a home improvement loan which allows you to borrow money against your home’s equity. Typically, your monthly solar loan payment will be less than your electric bill and you’ll start saving money right away. Other options include personal loans, solar leases, utility or city loans, and Property Assessed Clean Energy (PACE) programs, where available. This makes going solar easy and affordable. When you request a quote, we’ll walk you through the financing options available in your area.
Federal Tax Credit
ONLY AVAILABLE FOR HOMEOWNERS THROUGH 2022
Federal tax credits work differently than tax deductions. When you receive a credit, the amount of the credit is directly deducted from what you owe on your taxes at the end of the year. In 2019, the credit is 30%. In 2020, it will be 26%, and will drop to 22% in 2023. After that, homeowners will no longer be able to receive a credit, but commercial installations will receive a 10% credit. There are also credits available for some energy efficient improvements made to your home, such as solar water heaters, and we’ll help you maximize your credit.
When you install solar, you’ll immediately begin to see the difference on your monthly utility bill. With grid-tied systems, you are sending electricity back to the grid, essentially giving you a credit for what you’ve sent and causing your meter to run “backwards,” in a process known as net metering.
No Sales Tax
The Solar and CHP Sales Tax Exemption in Florida allows consumers to purchase solar products without requiring payment of a sales tax of 6%. This exemption was enacted in 1997 and made permanent in 2005.
Tax-Exempt Increase in Home Value
Typically, if your property value goes up, so do your property taxes. Unlike other home improvements that may result in unwanted hikes in property taxes, the substantial increase in value from solar is tax-exempt.
Solar Direct has been installing solar in Florida for 30 years and has tremendous buying power that allows us to purchase a high quantity of factory product at a discounted rate. This allows us to pass these savings on to our consumers and offer top-quality products at a discounted rate.