Texas is the second-best performing state when it comes to solar power installation, according to a recent report by the SEIA.
What’s more, the cost of installing solar has decreased by 36% over the last few years. Add to that some lucrative solar incentives in the state of Texas, and you’ve got every reason to embrace the power of sustainable energy as soon as possible.
Keep reading to discover the best Texas solar incentives and other savings.
Tax Rebates for Solar Installations
The Federal ITC is one of the biggest money savers when it comes to solar installation. This initiative allows you to deduct 26% of the total cost of installing solar from your annual tax return.
In most cases, you can expect to get around $9,000 back, provided you pay for your installation upfront with cash or a solar loan.
This incentive decreases at the end of 2021 and expires at the end of 2022. So, act fast if you want to get the maximum benefit from it.
Texas Solar Incentives
When you live in Texas, you’ll pay less for your solar set up right at the outset. In this state, the average cost of solar panels is $2.64 per watt compared to the national average of $3 per watt.
Your property value also increases when you implement sustainable energy, but you won’t pay the relevant property tax increase when you live in Texas. You’ll still pay the same amount you paid before.
Some solar installers and manufacturers offer attractive solar rebates when you install their equipment too. Others will help you find out more about how much you can expect to save in Texas before you commit.
Net Metering in Texas
For any savvy homeowner, paying less for electricity is one of the most exciting benefits of installing solar. In Texas, there are two ways you can pay less for the power you need.
Thanks to an abundance of sunshine, going off the grid is a feasible option for many Texas residents.
When you go this route, you get all the electricity you need from your solar installation. That means you won’t pay another cent for electricity, ever.
A Power Purchase Agreement or PPA is another attractive option for those who aren’t willing to go it alone just yet. When you opt for this solution, you can still use electricity from a power company, but you’ll pay a lot less for it.
That’s because you feed excess electricity from your solar panels back into the grid.
These grid-tied solar installations use net metering to measure how much power you use vs how much you give back. The power company gives you a credit in return for your contributions.
Work Toward a Brighter Future With Solar
You stand to benefit from a lot more than Texas solar incentives and other savings when you opt for a solar power installation.
By switching to sustainable energy, you’re doing your bit to slow global warming and help create a better future for us all.
Are you looking for extra ways to improve your life? Browse our blog for more information on a wide range of lifestyle topics.