Florida voters have approved an amendment to the state constitution calling for tax breaks aimed at helping both commercial and residential property owners install solar or renewable energy systems more affordably.
The measure approved Tuesday expands property tax exemptions covering only residential property to cover renewable energy equipment on commercial property, so that if adding solar increases a property's value, the owner won't be taxed extra for that.
The amendment also removes Florida's ``tangible personal property tax,'' which taxes solar equipment installed on properties. Without it, leasing solar systems will be a more profitable business in Florida.
Despite abundant sunshine, Florida lags nationally in solar power production. Solar arrays are getting cheaper but are still costly, so providing more access to leasing for all property owners will increase the sun power generated in the state.