Florida Supports Solar Energy Deductions for Homes and Businesses
www.idreamofgreen.com
In an effort to support alternative energy sources, the State of Florida has reinstated the renewable energy property tax break called for the in the Florida Constitution. This is a major incentive for homeowners and businesses to install solar power systems. www.Idreamofgreen.com applauds this effort to support green efforts to recycle, reuse and alternative energy sources.
The way it works: the State of Florida Constitution includes provisions (Article VII, Section 3(d)) for exempting installations for renewable energy equipment from property tax assessments. This law had previously expired until taken up by the legislature again until this year. The bill revises section 196.175 of the Florida Statutes to exempt "property upon which a renewable energy sources device is installed and operated … in the amount of the original cost of the device, including the installation.
This law will provide a significant tax savings for homes and businesses that install solar and other renewable energy equipment by discounting the price of the equipment from the taxable value of the home for a period of ten years.
With solar energy incentives, solar will be a major contributor to our energy costs in Florida. This incentive, along with the State rebate program for solar energy installations begun last year, will make a big difference in Florida’s energy costs. Check for green lifestyle articles on www.idreamofgreen.com.
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