Amendment 3 provides a tax exemption for wind hardening and renewable energy improvements for residential real property.  While admirable in purpose, the Florida Solar Energy Industries Association said the amendment actually would repeal existing provisions that provide solar energy incentives for all property - including business and commercial buildings.

 

This year, the Florida Legislature and Gov. Crist enacted an energy bill, HB 7135, providing that any renewable energy devices installed on real property after Jan. 1, 2009 will be exempt from property tax.  While well intentioned, advocates said Amendment 3 would have the effect of eliminating these current incentives for renewable energy devices installed on business and commercial properties.

 

"Businesses are some of the biggest consumers of energy in Florida, and that's why Gov. Crist has urged all Floridians and espcially businesses to use more renewable energy resources," said Bruce Kershner of the Florida Solar Energy Industries Association. "The impact of losing the commercial property tax exemption for renewable energy would be very damaging, and it would immediately put at risk existing business plans to deploy solar energy systems on commercial buildings.

 

Kershner also warned that Amendment 3 could be interpreted as inconsistent with the 2008 energy legislation, potentially rendering it void and erasing previous gains scored last session by advocates of renewable energy.

 

"As written, Amendment 3 could be a Trojan Horse that would reduce incentives for renewable energy resources," Kershner said.  "That's why we oppose Amendment 3, and we urge Floridians to reject this misguided amendment on Election Day."

 

"This bill puts the sun to work for every American," according to Rhone Resch President of Solar Energy Industry Association. "And by 2016, we expect solar energy to be the least expensive source of electricity for consumers."

The solar investment tax credit (ITC) provisions will:

· Extend for 8 years the 30-percent tax credit for both residential and commercial solar installations;

· Eliminate the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent tax credit (effective for property placed in service after December 31, 2008);

· Eliminate the prohibition on utilities from benefiting from the credit;

· Allow Alternative Minimum Tax (AMT) filers, both businesses and individuals, to take the credit;

· Authorize $800 million for clean energy bonds for renewable energy generating facilities, including solar.