Did you know that there are nearly 3 million solar energy systems installed in the U.S.?
You may be wondering how much your home state of Texas is contributing to that number, or if it’s even possible to use solar energy in Texas.
Texans can certainly use solar energy! In fact, Texas is a top state for the solar industry.
Keep reading to discover 5 more things you need to know about Texas solar energy
1. The Solar Tax Credit
In Texas, the Solar Investment Tax Credit (ITC) can save homeowners installing solar energy panels a lot of money.
Under the ITC, property owners that install a solar energy system are eligible for a 26% tax credit.
The incentive doesn’t last forever, though. The ITC for residential homes is set to expire after 2023.
2. Property Tax Exemption
Another incentive for installing a solar energy system comes in the form of the property tax exemption. This exemption applies to the value your new solar energy system adds to your property.
This can be incredibly helpful given that a study found that solar panels can give a 3.5% premium to your home.
3. Potential Savings
Switching to solar energy can save you money in the long run. The amount of money you’ll save depends on how you decide to pay for your new solar energy system.
The most lucrative method is to buy the system yourself. Depending on where you live in Texas, you could save anywhere from $11,000 to $30,000 over 20 years.
The other two methods are leasing or acquiring a loan. Neither ends up saving you quite as much money as buying the solar energy system yourself; however, you can still expect to save thousands of dollars.
3. The Cost of Solar Energy in Texas
The cost to install a solar energy system varies based on the system size your home needs. However, if you know the square footage of your home, you can estimate what solar energy companies will charge you for a system.
For example, a 1,500 square foot house requires a 5 kW (kilowatt) system, which averages $13,800 before you apply the federal tax credit mentioned earlier.
4. Switching and Installation
At this point, you may be wondering how to switch to solar energy. There are a few steps you’ll need to go through before you can make that switch.
This Texas solar installation company says you’ll need to have your roof assessed to determine if a solar energy system will work for your home. Some roofs may not be suitable for solar panels due to a variety of reasons, such as the angle or the amount of shade on the roof.
If the assessor determines that solar panels will work on your roof, then you’ll be able to order solar panels. From there on, it’s just a matter of the installation team coming out and getting you set up.
5. Make the Switch to Solar Energy
With a variety of incentives, making the switch to solar energy in Texas can be beneficial in the long term. Not to mention that you’d be part of making Texas a greener state!
If you found this article helpful, be sure to check out the rest of our blog for more insightful reads and useful information!