Texas is one of the leading states in the adoption and growth of the solar energy industry, accounting for 12.4% of the United States total solar energy production while only trailing California in total kWh generated. With the increasing demand for renewable energy sources and the state’s abundant sunlight, the future of solar in Texas looks bright. The industry is expected to continue growing, driven by declining costs, supportive policies, and technological advancements. In fact, some analysts predict that Texas could have over 30 GW of installed solar capacity by 2030. The solar industry in Texas is well-positioned to play a significant role in meeting the state’s energy needs, reducing its carbon footprint, and boosting its economy.
According to Texas Property Tax Code Section 11.27, you are entitled to a 100% tax exemption on the assessed value of your property after installing a solar-powered energy system. To qualify for the tax exemption, Texas property owners must meet certain conditions:
Since the state of Texas does not have a net metering policy, certain utility companies offer an alternate solution that involves crediting solar energy system owners for any electric power their panels generate but do not use. Most of the larger utility companies in Texas will offer to buy excess solar energy production. For more information on what your utility company within Texas offers, you can call us today at 800-515-1254.
Texas property owners are safeguarded by law from any sort of solar installation denial due to their HOA. However, HOAs do still reserve the right to apply regulations regarding where and how solar panels should be installed. It is best to proactively communicate details from your solar provider with your HOA to help speed up the process of solar installations.
Despite having no official statewide tax credit or rebate program, the Lone Star State has several municipal bodies and utility companies that provide homeowners with beneficial incentives to install solar panels. Whether they be large-scale organizations or small local ones, these authorities have a number of attractive programs to encourage going green! Here are a few examples:
Austin residents can take advantage of the rewards that come with being a part of Austin Energy. You may be eligible for an incredible $2,500 rebate if your system is larger than 3 kilowatts, plus you could receive up to $0.097/kWh from Austin Energy’s Value of Solar Tariff program which compensates for each kilowatt-hour your solar panels generate!
AEP Texas offers solar incentives to its customers with a rebate of $0.50 per watt, with a maximum rebate of $5,000.
Here are some of AEP Texas Fixed incentives:
0.001-2.999 kWdc: $0.50/Wdc
3-4.999 kWdc: $1,500
5-7.499 kWdc: $2,250
7.5-30 kWdc: $3,000
Solar panel installation is an incredibly beneficial investment, and CPS Energy customers have the potential to reap even greater rewards. By installing solar panels on their roof, they can get up to $2,500 in return — and if those panels are sourced locally, that amount may increase by a further $500! To be eligible for the rebate, solar projects must be priced at $4.00 per watt or less.
With the state’s favorable solar rights laws, the support of major utility companies, and a growing number of rebates and incentives, it is clear that there is no better time to go solar in Texas. There may be additional solar incentives available from your local city, county, or power company, which can further increase the benefits of installing solar panels on your property. If you’re a homeowner in Texas, going solar can help you save on your energy costs, reduce your carbon footprint, and contribute to the growth of clean, renewable energy in the state. So why wait? With our help, you can start exploring your options to go solar today! Call 800-515-1254 to learn more about financial incentives in your area.
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