Did you know that Texas ranks fourth in the nation for solar energy? The secret is out — solar is how Texans are battling unpredictable electricity rates, reducing their carbon footprint, and even increasing the resale value of their homes. But you may still be wondering, are solar panels worth it here in Texas? Are solar panels worth the investment? What about if there are incentives to having solar panels installed on your roof, or even on your property?
Government Incentives for Solar Panel Installation
There are still significant incentives available at the federal and utility level that will reduce the cost of installing solar panels. These incentives come in the form of tax credits, energy bill credits (called net metering), and even some utility rebates.
The Federal Solar Tax Credit in 2020
Many Texans looking to go solar have been wondering what happens to the Federal Solar Tax Credit in 2020. There are still big savings offered by this tax incentive, also known as the Investment Tax Credit, or the ITC for short. This is a solar panel tax credit that allows homeowners to claim 26% of their total solar installation costs from their federal tax liability.
So let’s say your solar installation costs totaled around $30,000. When all was said and done, you could deduct $7,800 from what you owe in federal taxes when you file in April of 2021. Plus, if that deduction covers more than what you owe, you can roll the remaining deduction over into the next year so that you don’t lose out on this tax incentive.
Utility Solar Incentives in Texas
Power utility companies in Texas are offering financial savings for customers looking to use renewable energy to power their homes. For Austin and San Antonio Texas residents, CPS Energy and Austin Energy are still offering installation rebates of up to $2,500 and per watt rebates for commercial solar installations. For Rio Grande Valley customers with AEP Texas, residential customers can receive a $0.50/watt incentive with commercial per-watt rebates based on a kW tiered system. You can get more information on our Texas Solar Rebates page.
When your solar PV (photovoltaic) system produces more energy than your home can use, that clean energy is sent back into the greater electrical grid for use in other homes and businesses. For solar customers across Texas, you could be compensated for this excess energy in a process called net energy metering. The details of your individual net metering plan will vary based on your utility — but if you have questions about how net metering works our team is well versed in the details of these programs.
Keep The Lights On When You “Go CAM Solar”
There is a lot that goes into designing a customized solar PV system for your house — and it all depends on the energy goals you have for your home. Are you wondering how efficient solar panels are, and which panels will be the best for your home? CAM Solar offers two of the best solar panel brands around:
San Antonio-Based Mission Solar Panels
These efficient and durable solar panels are made right down the road from our San Antonio offices. Mission Solar Panels are designed to withstand the heavy hail and brutal heat we see each year in Texas. Read more about Mission Solar panels here. BONUS - CPS Energy also offers an additional $500 rebate for these locally-produced solar panels.
Panasonic HIT Solar Panels
As an Authorized Panasonic Solar Installer, we also install the HIT line of solar panels, known for its superior drainage design and solar panel temperature coefficient. Read more about Panasonic HIT solar panels here.
Looking to power your home with renewable solar energy 24/7, and keep the lights on even during a power outage? CAM Solar is now a Certified Tesla Powerwall Installer and can now integrate a Powerwall battery storage with your solar PV system, so you can power your home off the grid with the best in solar energy storage.
See What Going Solar Might Look Like, with Our Solar Calculator
Have you ever wondered how much you could save over the expected 25-year lifespan of a solar energy system? Or maybe you’re wondering how much value solar panels add to a house. Our solar calculator can give you all that information, as well as a projection of your carbon footprint reduction. Plus, if you want to get an estimate of the cost of your solar panel installation, just fill out the form on the right side of the calculator and we’ll get back to you with a customized quote!