Here Are the Key Solar Rebates for Texas Homeowners to Know!
Texas is an ideal location for a roof-mounted solar array. It’s one of the sunniest regions in the United States, ranking fourth in the nation, but it also features a unique electricity system in which solar panels can help reduce overall costs and dampen major fluctuations in your energy bill. But to sweeten the deal even more? Texas homeowners have access to several solar rebates and tax incentives to reduce the overall cost of installing and owning solar panels.
At Dolan Roofing & Construction, we aim to bring the best in solar roofing solutions for our customers. Our roofing expertise will help ensure your roof can support a solar array, while the solar installers we partner with are some of the most skilled in the country. While the upfront cost of a solar panel array has dropped year over year, it’s still a significant amount of money. But here are a few solar rebates in Texas that help make installing a solar array more attractive now than ever.
The Federal Solar Tax Credit
The most significant solar rebate that Texas homeowners can take advantage of is the Federal Solar Tax Credit. This tax credit is a reduction in taxes owed based on the cost to purchase and install a residential solar system. To clarify: since it’s a tax credit, this is a direct reduction in the amount of income tax you would owe, not your taxable income. This makes the rebate significantly more impactful than a tax deduction.
While the tax credit had been expected to decline from its old rate of 26%, instead the tax credit has only gotten better. Now, 30% of the cost of your solar array can be deducted from your taxes. This applies for any systems installed between now and 2032. Take advantage of one of the best solar rebates available in Texas!
Local Utility Rebates
In addition to the federal tax credit, many Texas utility companies offer significant rebates and incentives for the installation of solar panels. This varies throughout the state, as different utility companies handle electricity for different regions, counties, and cities.
To use San Antonio as an example, CPS Energy is the electricity provider for the entire city. They provide a significant rebate for solar installation of up to $2,500 per project, with an additional $500 available for projects that use local solar modules. You can read more at this link.
Solar Property Tax Exemption
While Texas has no statewide rebates for solar panel installation, there is a solar property tax exemption in place that can help to alleviate some of the costs that can be incurred by making improvements to your home. This tax incentive is a 100% exemption from the increase in assessed property value due to the installation of solar panels. In other words, installing a solar array will not result in an increase in property taxes for Texas homeowners, further incentivizing this service.
Ready to Go Solar? Talk to the Dolan Roofing Team First!
There are numerous advantages to installing solar panels on your home. From savings on energy costs and reducing your carbon footprint to taking advantage of tax incentives, there’s never been a better time to go solar.
But is your roof ready for a solar array? That’s where we come in! Dolan Roofing provides residential roofing inspections to determine if your roof is solar ready. If it isn’t, our skilled contractors can make the necessary repairs to ensure the longevity of your solar array. If it is, we’ll also provide a post-installation inspection to ensure no part of your roof was compromised by the addition of solar panels. Contact us today to schedule your inspection and start the process of adding solar to your home!