Senate Bill 90

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businesses and renewable energy production in Florida? Why is the solar industry not booming in the Sunshine. State? Aft
Senate Bill 90 Business Tax Exemptions for Renewable Energy Investments

An incredible 73% of Florida's voters voted in favor of Amendment 4 during the August Primary Election ballot, demonstrating broad support for a win-win policy that will expand energy choices by reducing the economic barriers of installing renewable energy. Senate Bill 90 contains the implementing language for Amendment 4. By passing the ballot measure, Florida voters authorized the Legislature to amend the State's Constitution to: 

Exempt renewable energy devices, like rooftop solar, installed by businesses and commercial entities from the tangible personal property tax.



Preclude solar systems from increasing commercial property values when assessed for property tax purposes. Currently, a solar system increases the assessed value of the commercial property leading to higher taxes.

This measure reflects an extension of the existing tax abatement for solar and renewable energy devices on residential property.

What does Amendment 4 mean for businesses and renewable energy production in Florida? Why is the solar industry not booming in the Sunshine State? After all, Florida ranks third in the nation in rooftopsolar potential. While Floridians are searching for ways to take control of energy costs, outdated policies undermine additional business investment in renewable power, which accounts for only 2.3% of energy generation in the statei. Last year, the commercial and industrial sectors combined used more than 45% of the electricity produced in Floridaii. Amendment 4 reduces an important economic barrier for the expansion of renewable energy to meet that demand, and will provide Florida business owners more choice over economically feasible energy options. Lowering the costs of renewable energy by reducing taxes will help to make clean energy more competitive with other investments choices. Expanding renewable energy opportunities for businesses creates more certainty and increased control over energy costs in the long run, supports new and local job growth, and ensures Florida remains a healthy, sustainable place for future generations.

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https://www.eia.gov/state/?sid=FL#tabs-4 http://www.eia.gov/state/?sid=FL#tabs-2 https://www.flaseia.org/great-bay-distributors-great-big-solar-array/ http://www.thesolarfoundation.org/national/

Why Amendment 4 is a win-win for Florida’s businesses and environment? Achieves a healthier environment while addressing the effects of climate change. With more than a third of Florida’s energy use from the commercial and industrial sector, increased use of renewables by these sectors of our economy would result in less air pollution and greenhouse gas emissions, protecting the health of Floridians and our environment. Increases energy choices and creates more opportunities to cut and control energy costs. Florida businesses are seeking opportunities to expand their energy choices and control costs. Savings from renewables can be very significant. Florida’s Great Bay Distributors, for example, installed rooftop solar on its facility and cut its energy costs by upwards of 40%iii. Creates new, local jobs for Floridians. The solar industry alone is adding workers at a rate nearly 12 times faster than the overall economy and solar industry employment has grown by 123% in the past six years nationwide. Florida should be leading in this job growthiv.