Some big electric utilities in Florida (i.e., Progress Energy, TECO and FPL) started offering solar rebates to residential and commercial customers in 2010 and people are lining up. Progress Energy's 2010 rebate program sold out in the first few hours of the first day and TECO's rebate program is expected to sell out in the first hour. The programs are not advertised by the utility companies until the day of, which makes it hard for homeowners and business owners to take advantage of the great opportunity.
The rebates are for $2/watt and when combined with the 30% federal tax credit, 100% accelerated depreciation allowance, and annual energy savings, you can pay off your system in 1 year and cut your energy bill for the next 25 years.
The best way to get ahead of the curve is to contact your local solar contractor and they will keep you informed of the next application period.
If you missed your chance in 2010, don't despair. The utilities will continue to offer the program on an annual basis through 2014.
More information on Florida solar rebate programs:
Progress Energy
TECO
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EcoAsset Solutions is also available to look at the economics of a PV investment for your home or business so that you can easily understand the net cost of the PV system after rebates and tax credits. Email or call David Palange.
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