The 26% federal investment tax credit (ITC) is among the most important incentives currently available for solar PV. The federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage (26%) of the cost of a solar photovoltaic (PV) system. The ITC is based on the overall cost of your project.
In order to get the most return on investment (ROI) for your solar energy system, homeowners and businesses can take advantage of the various solar incentives available to them.
Today, most homes in the United States looking to go solar will install a grid-tied system. In a grid tie solar system, excess energy generated from the solar panels is fed back into the grid. In Florida, you can be credited for the electricity that you produce and send to the grid. For most, homeowners with grid tie solar systems will only need to pay an electric bill when their monthly electricity consumption exceeds their solar panel’s production.