If you're thinking of installing solar panel in your home, it is essential to fully understand the cost involved. You can offset your costs with tax incentives or rebates. Find out how long it takes to pay off a Texas solar panel installation. We will discuss solar panels Texas costs, average payback periods, and tax benefits.
Texas: Average price of solar panels
Texas solar panel prices generally are measured in dollars a watt. After the federal tax credit, a typical solar power system of 6000 watts will cost Texas about $12,312. Prices vary by location and size. A solar calculator can help you to get an idea for what to expect. The calculator will compare the current offers from different local solar companies. The best companies will offer you the best deals on high-quality solar systems.
Monocrystalline panels, which have the highest efficiency, are more expensive than polycrystalline. Monocrystalline panels made from high-grade silicone are highly efficient. Monocrystalline panels typically convert between 22.5% and 25 percent of the sun’s energy. They are usually covered by a 20-year or longer limited warranty. While they are less expensive, polycrystalline panels have lower energy efficiency and are generally more cost-effective.
Texas: Average payback time of solar panels
A solar panel system installed in your home could save you hundreds of bucks a month in electricity. It varies from one state to the next, but typically it takes between nine and twelve years. If you are eligible for a generous solar rebate, this can make it shorter. Depending on what type of solar panel you choose and the amount of sun they receive, your solar power system could pay for itself within five to six years.
Solar panels at home can reduce your energy bills, but that's not all. It also helps keep the air cleaner, reduces your carbon footprint, and cuts your reliance on the electricity grid.
Texas tax incentives to solar energy systems
Texas residents are eligible for tax incentives for solar power systems. The state has several different programs, and the federal government offers a large portion of the total cost of a home solar system. Federal tax credits of up to 26 percent can be applied towards the cost for a solar system. This incentive is available in Texas for leases or PPAs. These are great alternatives to conventional loans for financing your solar system.
Texas does not have an statewide solar rebate program. However many utilities provide incentives for solar energy systems. These rebates can be based on how much electricity is generated by a sun photovoltaic system. This offsets the amount of electricity utilities have to purchase, produce, and transmit. Solar homeowners are credited for any extra electricity they produce, and they can use it whenever they wish.