Proposal in Florida aims to support residential solar energyAugust 25, 2016
Voters could determine the fate of solar power in Florida
Voters in Florida will have a chance to make their voice heard on August 30 regarding a tax break focused on renewable energy. The tax break concerns clean power systems, particularly those harnessing solar energy, being installed on residential properties. Residential solar energy has been seeing strong growth in recent years as more homeowners look to embrace clean power as a way to save money and become more environmentally friendly. The tax break has made it easier for these homeowners to embrace solar power.
Proposal expected to ensure the growth of the solar market
State legislators have introduces the Amendment 4 proposal, which will be included on the primary election ballot at the end of this month. Supporters of the proposal suggest that it will secure significant growth for renewable energy in Florida. The proposal has already attracted a significant amount of support within the Florida Legislature, with several lawmakers believing clean energy to be a very valuable resource for the state. If successful, the proposal could make it significantly easier for the residential solar energy sector to experience growth.
Commercial and industrial solar installations would also benefit from the proposal
The proposal would exempt for 20 years the assessed value of solar power systems, as well as other forms of clean energy that are installed on various properties. While the proposal will aid the expansion of the residential solar energy sector, commercial and industries properties will also be supported by the initiative, if successful. State lawmakers have hope that the proposal will pass, as voters in Florida approved a similar initiative in 2008, which took effect in 2014. Many voters have expressed support for renewable energy as a whole, especially as concerns regarding climate change have grown in recent years.
Residential solar energy sector could see strong growth as a result of new proposal
In terms of residential solar energy, the proposal would also ensure that homeowners installing photovoltaic systems on their properties will be exempt from personal property taxes associated with renewable energy systems. State lawmakers believe that the initiative will help establish Florida as a leading and highly attractive solar power market.