As a Texas resident, you know that your energy bills can get extremely high—many Texas homeowners pay 20 percent more than the national average! Solar panels can significantly reduce the amount you pay each month for electricity, but you could save even more. Read on to learn what Texas solar incentives can mean for you.
Installing solar panels is beneficial in so many ways—not only do solar panels save you thousands of dollars on your energy bill, but they are also very appealing to prospective home buyers. This investment will significantly impact the value of your home, but it may have you wondering if your property taxes will increase.
Luckily, Texas has a property tax exemption for renewable energy. Even though your home will become more valuable, your taxes won’t skyrocket!
State and local incentives aren’t the only options for you to consider. The Federal Investment Tax Credit is still one of the most significant incentives out there for renewable energy, but it won’t be available forever. Through the end of 2022, you can save 26 percent on your solar energy system.
If you’re planning to install a system after 2022, make sure you do so in 2023—the incentive will drop to 22 percent, but it’s better than 2024, when the incentive ends.
Even though there aren’t statewide rebates, there are several local programs to know about. Austin Energy, CPS Energy, and Guadalupe Valley Electric Cooperative all offer rebates to homeowners who install solar panels. You can also gain net metering benefits through El Paso Electric, CPS Energy, Green Mountain Energy, and the City of Brenham. If you’re looking for a solar company in El Paso, NM Solar Group can help!
Now that you know what Texas solar incentives can mean for you, consider making the change to renewable energy for your home and save a lot of money while you’re at it.