You need to understand the costs associated with installing solar panels on your home. Tax incentives and rebates can be used to offset your expenses. Also, you should find out the average payback period for Texas' solar panel systems. We will discuss solar panels Texas costs, average payback periods, and tax benefits.
Texas: Average price of solar panels
Texas solar panel prices are generally expressed in dollars per watt. When the federal solar tax credit is included, a typical 6000-watt solar power plant will cost Texas approximately $12,312. Prices vary by location and size. A solar calculator will give you an idea about what to expect. It will also compare current offers from local solar installation companies. The best companies offer the best deals for quality solar systems.
Monocrystalline panels cost more than monocrystalline panels because they are the most efficient. Monocrystalline panels are made with high-grade Silicon. Monocrystalline panels convert about 22.5% of the sun's energy and typically have a 20 to 25-year limited warranty. The more expensive polycrystalline panels however have a lower efficiency in terms of energy.
Texas average payback time for solar panels
You can save hundreds of dollars each month by installing solar panels on your home. While the time it takes to pay back varies depending on where you live, it's usually between nine- and twelve years. You may be able to pay much less if you get a generous rebate from the solar company. Depending upon the type of solar panels you use and how much sunlight they receive, the cost of a solar power plant may be paid off in as little five to six year.
Solar panels at home can reduce your energy bills, but that's not all. It can help keep the air cleaner and reduce your dependence upon the electricity grid.
Texas tax incentives to solar energy systems
You may be eligible for tax incentives to help you install solar energy systems if you live in Texas. There are many programs in Texas, and the federal government covers a significant portion of the cost of a home-solar system. You may be eligible for a federal tax credit up to 26% on the price of a system. Texas also offers this incentive for leases. PPAs are great alternatives for financing your solar systems instead of using conventional loans.
Although Texas does not have a statewide program for solar rebates, many utilities offer incentives to solar energy systems. These rebates are based on the amount of electricity generated by a solar photovoltaic system. This offsets the amount of electricity utilities have to purchase, produce, and transmit. Net metering credits solar homeowners with the extra electricity they generate and allows them to use that electricity whenever it suits their needs.