Palm Bay, FL Solar Panels

Florida Statute § 193.624 provides a 100% property tax exemption for residential solar energy systems. When you install solar panels, your home’s assessed value typically increases by 4–5%, but that added value is completely excluded from your property tax calculations — meaning you pay no additional property taxes as a result of going solar. Non-residential (commercial) properties receive an 80% tax abatement on the added value of their renewable energy systems.

This exemption is authorized through December 31, 2037, giving homeowners more than a decade of guaranteed savings. The Florida Legislature would need to act before that date to extend or make the exemption permanent. No application is required for most homeowners — the exemption is applied automatically through your county property appraiser’s office.

This incentive applies to both solar photovoltaic (PV) panels and accompanying battery storage devices, making it one of the most straightforward and valuable long-term benefits available to Palm Bay solar owners.

Florida law exempts solar photovoltaic equipment from the state’s 6% sales and use tax. This exemption covers panels, inverters, racking equipment, solar batteries, and installation costs — essentially everything included in a standard solar installation. On an average Florida system priced around $34,960 before other incentives, this exemption saves homeowners approximately $2,097 upfront.

The exemption applies to any component certified by the Florida Solar Energy Center (FSEC) as a qualifying solar energy component. It is applied automatically at the point of sale by your solar installer — you do not need to file any paperwork or submit a separate application to claim this benefit.

This exemption applies to both residential and commercial properties and is considered a permanent part of Florida tax law (Florida Department of Revenue Tax Information Publication 19A01-09). It is one of the simplest and most immediate financial benefits available to Palm Bay solar buyers.

Florida law requires all investor-owned utilities (IOUs) — including Florida Power & Light (FPL), Duke Energy Florida, Tampa Electric Company (TECO), and Florida Public Utilities — to offer net metering at the full retail rate. For every kilowatt-hour (kWh) of excess solar electricity you send to the grid, you receive a one-to-one credit on your utility bill at the same rate you pay for electricity. Credits roll over month to month and any remaining balance at year-end is paid out as a cash credit in January.

Important Policy Change: Florida’s net metering rates are scheduled to decline in coming years. Customers approved in 2024–2025 receive 75% of the retail rate for exported energy. In 2026, that rate drops to 60%, and by 2027–2028 it falls to 50%. Homeowners in Palm Bay who interconnect sooner may be able to lock in more favorable rates, though you should confirm current grandfathering rules with your specific utility.

Residential systems are generally limited to no more than 115% of your historical annual electricity usage. Community solar alternatives — such as FPL’s SolarTogether and Duke Energy’s Clean Energy Connection — are available for customers who cannot install rooftop solar. Contact the Florida Public Service Commission or your utility for the most current program details.

Duke Energy Florida’s Clean Energy Connection is a community solar program that allows customers who cannot or do not want to install rooftop solar to benefit from solar energy. Participants subscribe to a share of solar energy produced by Duke Energy’s solar plants across Florida and receive bill credits based on the energy generated by their subscribed share.

The program includes a dedicated 26-megawatt (MW) allocation for low-income customers who participate in government assistance programs or Duke Energy’s Neighborhood Energy Saver program, making community solar accessible to a broader range of households. This is a particularly valuable option for renters, condo owners, or homeowners in Palm Bay with shaded or unsuitable rooftops.

Customers interested in subscribing should visit the Duke Energy Florida website to check current availability, as community solar programs can reach subscription capacity. Contact Duke Energy Florida directly for enrollment details, pricing, and to confirm the program is accepting new subscribers in your area.

Property Assessed Clean Energy (PACE) financing is available in many Florida counties and municipalities, allowing homeowners to fund solar panel and battery storage installations with little to no money down. Unlike traditional loans, PACE financing is attached to the property rather than the individual borrower, meaning repayment is made through an assessment added to your annual property tax bill at a fixed interest rate over a term of 10 to 20 years.

Because PACE is tied to the property, it can be an accessible option for homeowners in Palm Bay who may not qualify for traditional solar loans. If you sell your home, the PACE assessment typically transfers to the new owner along with the property. This can be a selling point if the solar system adds value to the home, but buyers and lenders should be made aware of the assessment before closing.

PACE program availability varies by county and city in Florida. Homeowners should check with their local government or a PACE provider to determine eligibility, available terms, and interest rates in their area. Always compare PACE financing costs against other solar loan options before committing.

The Solar and Energy Loan Fund (SELF) is a Florida-based nonprofit lender that provides low-interest financing for solar panel installations and other home energy improvements. Unlike traditional lenders, SELF does not require a credit check or impose income limits, making it one of the most accessible solar financing options available to Florida homeowners — particularly those in Palm Bay who may be underserved by conventional financial institutions.

SELF loans can be used to finance solar photovoltaic systems, making it possible for a wider range of homeowners to go solar without a large upfront payment. The organization’s mission is to increase access to clean energy and energy efficiency improvements for low-to-moderate income households, though the program is open to any qualifying homeowner.

Homeowners interested in SELF financing should visit the SELF website or contact the organization directly to learn about current loan amounts, interest rates, repayment terms, and the application process. Program details and funding availability may vary, so early inquiry is recommended.