Adrienne SorensenOctober 8, 20182960
Are you living in the Lone Star State? Or, are you planning to move to Texas? It so, then HahaSmart can relate to your wonderful states motto, "Friendship." In the scenario of a prospective Texan's move to clean energy, we extend that friendship to you with some amazing insight on how to get the best deal possible when participating in the solar revolution.
"Texan size" is a colloquialism, but not always a certainty. Some Texans have the luxury of a big roof to build their solar system, some somewhat smaller. However, big or small, if you reside in Texas and want rooftop solar power for your residence, it's your lucky day. The financial perks vary according to where you live in the state, but in general, there are several incentives to install a rooftop solar system in the Lone Star state than in most other US states.
Merging these incentives with the generous Texan size sunshine that emanates down on the state all year round, it’s no wonder the Solar Energy Industries Association ranks Texas as one of the best 10 states of the nation for residential solar power. Who loves saving money? If this is on the top of your list, then feast your eyes on this.
If you place a solar energy system at your residence in Texas before the end of 2019, you will be qualified for the federal investment tax credit of 30%. A traditional home solar installation prices around $15,000, some are more and some are less. That suggests you can qualify for a tax credit of $4,500, making the net cost of the system to you only $10,500.
When its tax time, you can gain the benefits of credits developed for solar users. It’s best to review your choices. Let's say you don’t owe $4,500 in federal taxes, then the unused portion of the credit can be transferred over to following tax years. With attitude to the federal credit, the solar system will cover its individual cost in approximately 9 years or less.
After that, it will give you and your family with fcomplimentary electricity for the balance of its useful life, which is typically 25 years.
Solar Net Metering
With net metering, your solar system does give energy back into the network. This can bring a healthy incentive worldwide and locally toward a favorable societal view of renewable energy. Since the electric company can then resell your clean power to other customers, it often pays a fixed price per kilowatt hour for it.
There are no state laws in Texas mandating net metering statewide, though plenty of regional utilities advance net metering programs for their customers. El Paso Electric, the City of Brenham, CPS Energy, and Green Mountain Energy are just a few of the services that have net metering policies.
Many energy firms in the Texas area provide a variety of rebates to their customers who pursue the ideal of having solar placed on the roofs of their homes. Customers who establish rooftop solar devices rebates varying from 50 cents per watt up to $1.20 per watt. Since the median rooftop system is about 6,000 watts, those rebates can decrease the price of a system by within $3,000 and $7,200.
Several of the utility companies that provide rebates include Austin Energy, CPS Energy, Oncor, Guadalupe Valley Electric Cooperative, Garland Power and Light, and the City of Sunset Valley. Check with your local energy service provider for more knowledge.
Property Tax Exemption
These solar systems can potentially add value to your residence. Typically, that improved value would make your property taxes increase. However, Texas law prohibits local authorities to tax the cost of a residential system. That means you can make your house worth more without paying more property taxes.
At the beginning of the solar revolution, there was some resistance toward solar installations. Many homeowner associations for condominiums enacted regulations banning them from the homes within the community. Texas has adopted a solar rights law that makes it illegal to block condominium organizations from prohibiting the installation of solar systems.
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