Solar Source - Largo, FL - State Incentives

Solar In the News:

Announcing a spectacular achievement by Atlantic Housing (AH). Atlantic Housing took a bold step with the installation of an unprecedented solar carport project in Florida. This is the first of its size in Florida.
Read more...

The Orange County Convention Center's massive rooftop will soon shoulder the largest solar project in Florida and the Southeast at one megawatt of clean renewable solar energy. County officials granted the contract to Johnson Controls, Inc. in partnership with Solar Source on July 8, 2008 to blanket the roof of the nation's second-largest convention center with panels that can turn sunshine into energy, without producing pollution.

Removal of Utility Prohibition to Have Major Impact on Solar Market Development- Press Release from WASHINGTON, D.C.

The passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008, provides critical news for the solar industry at large, but also for regulated electric utilities looking to diversify their energy mix with solar electric generation. In addition to extending the federal solar investment tax credit (ITC) for 8 years, the legislation includes the removal of a prohibition that previously prevented electric utilities from taking advantage of the credit.

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State Incentives

The Florida PV Financial Model for 25 KW PV Solar System for Commercial Business in 34% Tax Bracket

Installed Price (estimated @ $8 per Watt) -$200,000
Florida State Incentive ($4 per watt or $100K max) $100,000
Basis Adjustment for Florida State Incentive - $100,000
Less Federal Solar Tax Credit (30% w/no max.) $30,000
Less 1st Year Depreciation(34% tax bracket) $14,960
Less 1st year Energy Savings (based on 80% efficiency $4,015
Total 1st Year Cost (75% Return) - $51,025

The 25 KW System becomes a Positive Cash Flow within a few short years and this will continue for the next 40+ years of operation. Saving you ~40,150 KWh of electricity each year. Your 25 KW PV System will remove over 32 tons of air and ground pollution every year.

State of Florida tax rebates: http://www.fsec.ucf.edu/en/media/enews/2006/2006-04-R1_Energy-act.htm

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