Are there tax incentives from the state of Florida?
The sunshine state has the third best physical and geographic conditions for solar energy production, yet the policies in Tallahassee has Florida ranked 17th in the country for solar energy capacity. Florida does not have a renewable energy portfolio standard, which drives renewable energy investments in other states. You do benefit from the 30% tax credit from the federal government (Please see “Savings” section for more information on the 30% tax credit).
Will I still receive an electric bill from my utility company?
The state of Florida mandates that you must be connected to the electrical grid even if you are producing your own clean, renewable energy through your customized solar solution. Depending on the utility company (co-operatives tend to be more expensive), you could be charged $9-30 a month for the metering fee required to keep you connected to the grid.
What is net metering?
Net metering is a way of measuring the difference you buy from your utility and the electricity your home solar system produces. Under net metering, any surplus energy produced by your home solar system is delivered back onto the grid and to your utility provider, which turns your bi-directional meter backwards. When the system produces more electricity than your home consumes, the utility may credit your account for the surplus energy generated. Consider it to be like a debit account for your home energy needs, these credits will power your home at night when your system is not producing electricity from the sun. Please refer to the “Net Metering” graphic in your welcome packet for more information.
How does the financing work? What is the billing schedule?
We utilize Dividend Solar, a customer-focused lending platform, that provides $0 down financing with a low fixed interest rate, without putting a lien on the home like some other solar lenders. The solar system is marked as collateral in case one defaults on the loan, and there is no out-of-pocket costs prior to your first loan payment. You will never be charged until your system is installed and operational, and there is a 30-day grace period from the loan signing in which all interest owed is forgiven. If there is a significant delay in your installation, Go Solar Program and Dividend Solar will work together to expedite the process and you will not be charged until your system is up and running. Please visit the “Dividend Solar FAQ’s” page for additional details (https://www.dividendsolar.com/faqs) or contact them directly at (415) 805-7000. If you’re credit score, credit activity, debt-to-income ratio, and other requirements prevent you from getting qualified by Dividend Solar, we have several other financing options at our disposal that could be better suited to your particular situation. Please inquire with your solar specialist for additional financing options and information.