Solar Quote
See how much you could save by going solar
Solar Tax Credits & Savings in Texas
Everything is bigger in Texas, including solar incentives! With the federal tax credit and various state & local utility incentives available, you can save substantial money on solar energy systems installed in your home.
Want to chat about solar options? Contact Solar Home Review today to learn about Texas's various solar tax credits and incentives.
The Texas Residential Clean Energy Credit
Texas homeowners who install solar in 2023 will be eligible to offset 30% of the costs through a federal tax program. This is known as the Residential Clean Energy Credit, which can be claimed on your tax return for up to 5 years post-installation.
It’s important to understand how the tax credit works and how to claim it on your taxes. The credit equals 30% of the total cost of your solar system installation, including labor and other related expenses. When filing your taxes, you'll need to fill out IRS Form 5695 with all relevant information about your installation costs and submit it with your return.
This is not tax advice. Always consult a tax professional with any questions.
In taking advantage of the federal tax credit, homeowners can reduce their grid reliance, and save money on electricity while also supporting their community with clean energy during peak times of use.
What Other Incentives Can I Receive for Going Solar?
In addition to the federal tax credit, many utility companies offer rebates that can help offset the cost of installation. Texas has enacted various policies to promote green energy production, such as the Renewable Portfolio Standard (RPS) and other green energy programs. The RPS required the state to install 5,000 megawatts (MW) of new renewable energy capacity by 2015 and sets a target of 10,000 MW of renewable energy capacity by 2025.
Now is the time to take advantage of all these solar incentives.
Rules and Regulations for Installing Residential Solar
When equipping a home with solar, the installer must follow detailed federal, state, and local rules/regulations to ensure they are operating safely and legally:
All solar installations must comply with the Texas Electrical Safety Code. This code sets forth guidelines for electrical safety and wiring standards that must be followed to ensure the safe operation of the systems.
2
Homeowners must also comply with local building codes, permitting requirements, and zoning regulations before beginning a solar installation project.
3
Texas has enacted the Weatherization Assistance Program to help homeowners make their homes more energy efficient. Homeowners who qualify for this program may be eligible for additional incentives or rebates that can reduce the cost of installing solar energy systems in their homes.
By understanding the regulations and incentives available, homeowners can ensure they take the necessary steps to ensure their solar installation is safe and compliant.
Learn more about regulations & incentives with Solar Home Review.
Benefits of Going Solar?
01
Reduce or eliminate your utility bill. Save $ with $0 out-of-pocket costs.
02
Reduce dependence on fossil fuels, and transition easily to a more sustainable energy source.
03
A solar energy installation increases your home value. Studies have shown that homes with solar energy systems sell for more than comparable homes without them, making them a great investment. Imagine watching your home's value increase while you save money on your monthly energy bills.
04
Finally, solar energy is reliable and long-lasting. Most systems come with 25-year warranties that cover the cost of repairs or replacements in case something goes wrong, giving you peace of mind for years to come. As grids struggle under the rising demand for energy, solar can offer an independent source of power that is much more reliable than traditional utility companies.
Learn more about the benefits of solar with Solar Home Review.
Are You Ready to Go Solar?
If so, you’re in the right place! At Solar Home Review, we specialize in helping homeowners like you make the switch to solar energy.
We can provide expert advice and guidance every step of the way - from understanding incentives and regulations to finding the right equipment for your home. Get a free quote today and start saving money on your energy bills!
