Solar Incentives for Texans: Savvy Savings with Sunshine

Solar Incentives for Texans: Savvy Savings with Sunshine

If you’ve been wondering about solar power, it’s a game-changer for both your wallet and the environment. Solar isn’t just about going green; it’s about saving green, too. With all the Texas sun we’ve got, it can be a smart investment. Whether you’re in it for the savings, the sustainability, or just the satisfaction of running on pure sunshine, solar’s got your back. 

The Cost of Solar Panels in Texas

Texas has some of the lowest solar panel costs in the country. As of mid-2024, the average system runs about $2.36 per watt, meaning a 5 kW setup costs roughly $11,816 before incentives. Thanks to the federal tax credit, you can slash 30% off that price. With over 200 sunny days a year, those panels can pay for themselves in around a decade.

Biggest Incentives for Solar in Texas

The federal solar tax credit is the star of the show, letting you claim a 30% credit on your taxes, with no cap on the savings! On top of that, Texas homeowners get a property tax exemption for the value added by their solar setup. Local governments and utilities may toss in rebates, too, depending on where you’ve put down roots.

Solar Myths: Let’s Set the Record Straight

Too Expensive?

Nope! Texas panels cost less than the national average, and with incentives, it’s a deal. Plus, you can lower your bills by up to $2,000 a year.

Not Efficient? 

Think again. Panels today are more efficient than ever and can even keep you powered during outages.

Only for the Wealthy? 

No sir! Incentives, loans, and leasing options make solar accessible to folks from all walks of life.

Not Enough Energy? 

Most homes can meet a big chunk of their needs with solar. Even if it doesn’t cover 100%, it’ll definitely lighten your electric bill.

Other Ways to Maximize Solar Savings

When it comes to saving money, timing’s everything – so use power during off-peak hours and sell excess energy during peak times for the best return on your solar investment. Energy Texas’ solar buyback plan makes it easy to pocket those benefits with unlimited credit rollover and no caps on earnings.

A Bright Idea: Solar and Property Values

Solar doesn’t just save on bills – it can boost your home’s value by an average of 4.25%. For the typical Texas home, that’s an extra $15,000 in your pocket, if you ever decide to sell.

FAQs 

What solar incentives are available in Texas?

Texans can benefit from federal tax credits, property tax exemptions, local rebates, and selling excess solar energy back to the grid through buyback programs.

How do I apply for solar tax credits?

Visit the Department of Energy website for helpful information that will guide you through the process and eligibility.

What are the initial costs of installing solar panels?

In 2024, a 5 kW system costs about $11,816 before incentives. You can reduce upfront costs with federal credits or explore options like solar leases.

How much can I save with solar energy?

Solar panels can cut electricity bills by up to $2,000 annually and increase your home’s value by an average of $15,000.

Can I sell excess solar energy back to the grid?

Yes! With Energy Texas’s solar buyback program, you can earn bill credits for surplus energy. Credits roll over monthly and apply to energy charges.

How long do solar panels last?

Solar panels typically last 20 to 40 years. While their efficiency decreases over time, regular maintenance ensures optimal performance.