Solar Installers of Florida provides our clients with payment options, information on incentive programs, and guidance on tax deductions.
We make switching to solar energy an achievable option for most homes and properties. A few more sentences about financing. How does the team make this as seamless as possible? How does it differ for homes vs business properties? Does it differ depending on the type of installation happening?
Paying Cash
Paying cash is an ideal option for those who want to avoid financing costs, eliminate debt, and start seeing a return on investment immediately. If you plan to stay in your home for many years and prioritize complete ownership, paying cash is the most straightforward and cost-effective way to go solar.
Getting A Loan
Getting a loan to finance your solar panels is best for homeowners who want the benefits of solar ownership, but prefer to spread out the cost over time. It’s an excellent option for those who may not have the cash to pay at once, but still want to maximize long-term savings, take advantage of tax incentives, and eventually own their system outright.
Leasing Your Panels
If you're interested in enjoying the benefits of solar energy but prefer not to make the full investment, leasing allows you to save on energy bills without the responsibility of ownership.
Tax Deductions
Tax deductions are beneficial for homeowners and businesses who invest in solar energy systems. If you're purchasing a solar panel system, you can take advantage of available tax deductions to reduce your taxable income and improve the overall return on your investment.
The federal Investment Tax Credit (ITC) allows you to deduct a percentage of the cost of your solar system from your federal taxes. As of 2024, the ITC offers a 30% tax credit, which means if you install a $20,000 solar system, you could potentially receive a $6,000 tax credit.
Maximize Your Savings with Solar Incentives
Investing in solar energy has never been more financially rewarding thanks to several incentive programs.
The Investment Tax Credit (ITC) allows you to deduct 30% of your solar installation costs from your federal taxes, offering significant savings for both residential and commercial systems.
The Inflation Reduction Act (IRA) enhances opportunities for clean energy investment by expanding tax credits.
For businesses, the Modified Accelerated Cost Recovery System (MACRS) provides another valuable benefit by allowing solar investments to be depreciated over a five-year period, accelerating tax deductions and improving the return on your solar investment. These programs make solar energy an economically smart and sustainable choice for your future.
Financing Partners
