Texas Solar Panels, From Pricing To Incentives
The Texas solar panel market is booming. As more people look for ways to save money on their energy bills, they’re increasingly turning to solar power. Solar panels are an excellent way to cut down on energy costs.
However, before you buy a solar panel, you need to know what kind of incentives and rebates are available. You also want to make sure that the system is the right size for your home.
The cost of installing solar panels depends on the size of the system, how many panels you have, and whether you live in a sunny or cloudy area. Let’s find out what Texas offer for solar panels, from pricing to incentives.
Texas has a lot of sunshine, which makes it a great site for people to use solar energy to create electricity and cut costs. Texas presently boasts the second-highest solar-producing capacity in the nation, trailing only California, according to Statista.
On occasion, though, the Texas power grid infrastructure has forced Texans to deal with rolling blackouts or protracted power outages during hurricanes and other months with high energy demand. As a result, Texas residents are turning to solar to boost their energy independence.
Texas is one of the top 10 states with the highest average household electricity rate, according to the most recent US Energy Information Administration data, with an average electricity bill of $150.56. Solar panels are an alternative to think about if you’re looking for ways to assist down those costs.
The Cost Of Texas Solar Panel
Over the past two decades, the cost of home solar panels has plummeted, and larger incentives and rebates are now offered at the local, state, and federal levels. Texas residents that install solar panels will gain the following:
- a federal tax credit of 30% for solar panels
- Benefits of local net metering that can lower your electricity bill
- There are several solar panel manufacturers and installations from which to pick.
Depending on how much electricity your home uses and the size of your solar array, the exact cost will change. Annual data from the Lawrence Berkeley National Laboratory’s Tracking the Sun report are made available to enable Texas people to get a better understanding of the cost of solar. Their analysis of data from around 2.5 million units “focuses on systems installed through year-end 2021.”
Texas Solar System Stats
| System Size (kW) | Price Per Watt | Installment Price |
|
|---|---|---|---|
| High | 10.2 | $4.01 | $41,052 |
| Medium | 7.4 | $3.80 | $28,888 |
| Low | 5.4 | $3.23 | $17,293 |
Texas vs. The US
| System Size (kW) | Price per watt | Installed Price | |
|---|---|---|---|
| Texas | 7.4 | $3.80 | $28,888 |
| Nationwide | 7.6 | $3.67 | $26,882 |
Available Options For Texas Residents For Solar Financing
Solar panels are a good investment in Texas. With a little cash, you can save some money by making your home more energy-efficient.
If you’re looking to take the plunge on a home solar system, however, solar loans are a good option. They can help you to reduce your upfront costs, resulting in a lower price. Solar loans are available through many financial institutions and solar installers.
It’s common for Solar leases and Power Purchase Agreements to be attractive alternatives to paying utility bills at flat monthly fees. The disadvantage of these solutions is that since you do not own your system, you will not be eligible for tax incentives. For Texans who finance, it typically takes six to ten years to recover their initial investment.