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Solar already delivers benefits to your wallet and your impact on the environment. However, with solar incentives in Texas, the process of making the switch has never been more affordable both upfront and over time.
Solar incentives are provided by Federal, State, and local governments, as well as utility providers, to help encourage solar adoption. Incentives come in a variety of types, from tax breaks and property tax increase relief to installation rebates and solar buy back programs. It can be a challenge to navigate all of the options available to you at first glance. But with the experts at ATX Solar, we thoroughly break down how to take advantage of every incentive you can to reduce the cost of going solar.
Unlike other states, the state government of Texas supplies only limited state-wide incentives. Many of the valuable incentive structures are administered by regional utility companies that own the grids you connect your solar system to. Below is the full list of solar incentives in Austin and the surrounding communities.
One of the largest incentives available is provided by the Federal government through the Federal Solar Investment Tax Credit (ITC). This incentive provides a 30% federal tax credit on the cost of your installation. In 2022, this credit was renewed to run through 2032. After that year, it will gradually reduce each year. The ITC is an excellent way to offset the cost of your initial solar investment.
Solar panel installations increase property values, one of the lesser known benefits of making the switch to clean energy. However, with increased property value comes increased property taxes. Fortunately, in Texas, property value increases that come as a result of a solar installation project are exempt from these property tax increases. Without the additional property taxes, you can reap the benefits of higher property values without the additional tax.
In Texas, many of the most valuable solar incentives come directly from local utility providers. Each provider has their own incentive structure for determining rebates, and not all of them provide solar rebates.
Residents of Austin have access to one of the most generous rebate programs for solar installation in Texas. You can receive a rebate of up to $2,500 by meeting a few criteria. First, your system needs to be a minimum of 3kW installed capacity. Second, you’ll have to take an online education course about solar energy. It will help you better understand your system and how to make the most of it. For Austin residents, it’s one of the best solar incentives in Texas.
Amount: $2,500
Size: Min. 3kW
Prerequisites:
Texans who utilize Oncor for their electricity also have rebate options. With Oncor’s Residential Solar Program, you can receive as much as $9,000 depending on the size of your solar system. However, Oncor’s program does have more stringent requirements than most programs, which may limit eligibility depending on the details of your project.
Amount: Up to $9,000
Size: Between 3 kW and 15 kW.
Prerequisites:
Other local solar providers in deregulated areas may provide additional rebate options. Our team will advise you on all Texas solar incentives available to you when you make the decision to https://goatxsolar.com/home-solar/
Solar systems are highly efficient, and there may be periods where your solar system generates more energy than you can use in a day. Some solar owners retain this energy in a battery storage system. Without a storage system, your excess energy is sent back to the grid. In some states, a crediting system called net metering delivers discounted energy rates during periods of low generation. However, in Texas, many providers offer solar buyback programs instead. These can come in the form of credits, similar to net metering, or in the form of cash reimbursements for the energy delivered to the utility provider.
Different providers offer different pricing structures for solar buybacks. We’ll check with your local provider to get a comprehensive look at their full solar buyback rates. These programs are an excellent way to help you mitigate the initial cost of a solar installation over time, and help make going solar more affordable.
Going solar has never been more affordable than it is today. With a variety of incentive structures available to, now is a great opportunity to make the switch. Reach out to the team at ATX Solar to get started.
1401 Lavaca St, #942
Austin, TX 78701
TECL 37831
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