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How does solar work?

Solar panels work by absorbing sunlight with photovoltaic cells, generating direct current (DC) energy and then converting it to usable alternating current (AC) energy with the help of inverter technology. AC energy then flows through the home’s electrical panel and is distributed accordingly. Here are the main steps for how solar panels work for your home:

investment tax credit

In addition to Florida’s net metering policy and tax exemptions to encourage solar energy, the Federal government gives you another huge incentive, known as the Investment Tax Credit (ITC). This generous rebate effectively knocks off 30f the cost of your new solar energy system, right off the bat, as a credit on your income tax. Keep in mind that that you must have enough income for the tax credit to be relevant, and the Federal ITC applies only to those who buy their PV system outright with a cash purchase or a solar loan.

battery backup systems

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Solar financing

PACE financing (property assessed clean energy financing) is a means of financing energy efficiency upgrades, disaster resiliency improvements, water conservation measures, or renewable energy installations of residential, commercial, and industrial property owners. PACE programs help home and business owners pay for the upfront costs of green initiatives, such as solar panels, which the property owner then pays back by increasing property taxes by a set rate for an agreed-upon term ranging from 5–25 years. This allows property owners to begin saving on energy costs while they are paying for their solar panels. This usually means that property owners have net gains even with increased property tax.