Are Solar Panels Worth It In Texas? 4 Big Benefits To Consider
Summer is right around the corner, so there’s no better time to harness the power of the sun for your home. Texas gets lots of sunshine each year! For example, Dallas residents enjoy an average of more than 200 clear days a year. If you live in the Lone Star State, you’d be wise to slot a few solar panels on the roof and reap the rewards.
Why Solar Panels Are Worthwhile Investments For Long-Term Savings
But what are those rewards? Aside from helping the environment, there are even better reasons to install solar panels on your roof as soon as possible. Don’t believe us? Here’s a breakdown of four major benefits to consider when installing solar panels in Texas.
How much can you save with solar panels in Texas?
According to energy.gov, solar power is competitive with electricity sold by local utility companies in several major cities around the country. In many cases, you can lower electricity bills by more than 60 percent, depending on how many panels you install and where you live.
When you take advantage of solar power, you’ll generate electricity for your home’s many appliances and systems, including the refrigerator, A/C system, lights, and more. That extra electricity is even more valuable during the year’s hottest months like July and August.
If your energy bill is well over $100 each month, solar panels may save you thousands of dollars within a year or two. If you ask us, this benefit alone makes solar panels from Stonewater Roofing well worth the time it takes to install them. Solar panels are a home improvement that pays for itself, especially since you can get your panels financed!
Does Texas have a solar tax credit?
More than one, in fact. That’s another great reason to go solar: you can pay fewer taxes. Depending on where you live and when you install solar panels, you can take advantage of both a federal tax credit and possibly one or more state-specific tax credits.
Federal Tax Credit
The federal solar investment tax credit (ITC) has been in effect since 2006. It was recently renewed, so it’ll still be around until the end of 2023 (and beyond, if Congress extends it again).
If you install a solar photovoltaic (PV) system before the end of 2022, you can claim up to 26 percent of the cost of your PV solar panel installation as a tax credit. This includes the costs for assembly and installation, permits, inspection fees, and sales taxes. With this tax credit, you can deduct that amount from your taxable income for the year.
However, you have to take advantage of the solar ITC soon. If you install your solar power system in 2023, you’ll only be able to claim 22 percent of your solar panel installation cost. In 2024, the tax credit could be gone, so you may not see any tax benefit if you try to install solar panels that year.
Solar panel installation can cost several thousand dollars no matter where you live. But the solar ITC can cover a big chunk of that cost by reducing how much you owe in taxes at year’s end.
Texas-Specific Tax Credits & Programs
On top of the federal solar ITC, you can also look into Texas-specific tax credits and breaks. For example, there’s the Solar Energy System Property Tax Exemption, which exempts your house’s added home value when you install solar panels in Texas.
Plus, your local utility company may offer its own solar rebates or special deals. These rebates can reduce the upfront cost of installing solar panels, lower the cost of labor, or provide other financial benefits after installation. Here are some examples of solar-related deals and credits you may qualify for:
- The TXU Energy Renewable Buyback Plan: If you’re enrolled in an energy plan from TXU, you’ll get bill credits for the extra energy your solar panels produce. If you help the statewide grid by donating those extra kilowatts, you’ll be rewarded with free credits to use against your energy bill each month!
- CPS Energy: Customers can earn up to $1.20 per watt for any extra energy generated by their solar panels and donated to the grid.
Regardless of who supplies your power or where you live in Texas, a residential solar system can save you money one way or another.
Become an independent Texas homeowner.
Solar panels are worth more than lower utility bills and federal solar tax credits. In some cases, they’re vital for safety.
February 2021 saw Texas’s power grid devastated by record low freezing temperatures and a winter storm that left many people without power. If you were affected by that winter storm, you already know the benefits of energy independence.
What better way to exemplify the independent spirit of a Texan than to supply and store your own electricity with an optional battery system? With solar panels and a battery, you’ll be better secured against energy interruptions if another winter storm rolls around this year or the next.
While your solar energy might not supply as much power as the overall energy grid, some electricity is far better than none. You can think of solar panels as insurance against future catastrophes. It’s always better to be prepared for the worst than be caught off-guard!
Do solar panels add value to a house in Texas?
But what if you don’t plan to live in your current home for too much longer? In that case, solar roofing is still a beneficial investment. When you install solar panels, you increase the resale value of your house for future buyers, often by up to 6 percent!
That means a bigger profit you can put toward a larger house or homestead. As solar power becomes more popular around the country, odds are the value of solar roofs will become higher too. Whether you sell your house in the next year or in the next 10 years, those panels will put extra dollars in your pocket.
So, Are Solar Panels Worth It In Texas?
We think the answer is a resounding yes!
Simply put, solar panels save you money, make you money, and guarantee greater energy independence than any other home improvement project you can pursue. With so many upsides, there’s no reason not to see whether your home is a good fit for solar.
Luckily, you can get solar panels installed easily and as soon as possible with Stonewater Roofing. As experienced, family-owned and operated roofing professionals, we offer the best solar solutions for commercial buildings and residential properties just like yours.
Not only do we offer solar panel installation, but we’re also ready to provide energy assessments, site surveys, and anything else you may need — including a solar battery for storing excess electricity or charging stations for electric vehicles! You’ll get service honed by 11 years of dedication to our clients when you contact us.
Why wait? Put the sun to work for you and save a bundle of green with solar energy solutions from Stonewater Roofing.