Solar in Texas
Texas is called the heart of America’s energy industry. It plays a sizable role in all electric industry trends nationwide. The state has installed a large amount of solar to date, but it only provides a small portion of the state’s energy. However, with strong solar incentives–such as utility solar rebate programs, renewable energy property tax exemptions, and feed in tariffs for solar–going solar in the Lone Star state has never been easier.
With some of the strongest sunshine in the country and lower-than-average solar costs, it’s no wonder that the Solar Energy Industries Association ranks Texas as a top 10 state for solar. Going solar is easier than ever thanks to some major solar incentives and rebates.
What are the best Texas solar tax credits and rebates?
Homeowners in communities all across Texas have access to significant rebate programs and special programs that can help them save thousands on the cost of installing a solar energy system on their roof. These are just a few of them:
Texas solar rebate programs
While Texas doesn’t have a statewide solar tax credit or solar rebate program, many utility companies (large and small) and local governments offer incentives to homeowners who want to go solar.
Renewable energy property tax exemption
Beyond saving you money on your electricity bills, solar has another financial benefit – it can increase the value of your home. While higher home values typically bring higher property taxes, Texas has a renewable energy property tax exemption so that residents don’t pay extra taxes as a result of the value that their solar panels add.
Texas net metering
Even though Texas doesn’t have a statewide net metering policy, many utilities in the state have policies that credit owners of solar energy systems for the electricity that their panels produce. If your utility has a net metering policy, you receive credits on your electric bill for the extra electricity your solar panels produce. If your panels aren’t producing enough electricity to meet your use you can draw on those Texas net metering credits instead of buying electricity from the utility.
Federal Investment Tax Credit (ITC) for solar
As you’re considering getting solar panels, don’t forget about the federal tax credit for solar. It’s one of the best incentives in the country. You can reduce the amount you pay in taxes by 26 percent of the cost of your solar panel system. That means that if your system costs $10,000, you get a $2,600 credit on your federal taxes.
Make the Switch With Kosmos Solar
If you’re thinking about switching to solar power for your home, Kosmos Solar is here to help. Our licensed solar technicians will work with you to decide on the best installation plan. We will tell you everything you need to know and answer your questions about going solar so you can enjoy your new energy independence for as long as possible. Call or visit our website today for a free quote and help navigating those rebates and tax credits!
