How Much Do Solar Panels Cost in Irving?
May 18, 2021
With nearly 250 days of sunshine each year, Irving, Texas, is an ideal place to make the switch to solar for your home. In Texas and beyond, solar energy has an incredibly bright future ahead. That’s because our nation is harnessing homegrown sunshine at an unprecedented rate. The US is now home to more than 2 million solar panel installations, and forecasts predict that this number will double in less than two years.
From reducing harmful pollution to drastically reducing or even eliminating your electric bills, there are so many reasons why going solar is a smart choice.
So how much does an actual solar panel system cost? The short answer is that it depends. Solar system costs vary widely depending on many factors, such as where you live, the price of electricity in your region, the size of your system, and how much energy you use.
On average, an Irving residential solar owner can expect to pay $40,000 for a 10 kilowatt (kW) residential SunPower system — which doesn’t include the tax credits and local rebates that we’ll cover below. That average cost covers all necessary parts, including:
- Solar panels
- Mounting equipment
- Conduit and other components
- Installation labor
- Project management, including HOA approvals, permitting, and inspections
However, as the number of solar installations has surged in recent years, the average cost of a solar panel installation has dropped to an all-time low. And here’s the best part: there are countless financial incentives available from states, utility companies, and the federal government, to drop those costs even further. Thanks to these financial incentives, and the year-round Texas sunshine, going solar in Irving has never been more simple — or affordable.
Take Advantage of Solar Financial Incentives
To encourage the continued surge of solar, governments and utility providers offer various solar tax breaks and financial incentives to make solar as affordable as possible. And we’re here to help you find and make the most of those offers, including:
- Local rebates. As an Irving resident, you’re eligible for renewable energy incentives from the state and local governments. These rebates and credits will drastically reduce the costs of going solar.
- Federal rebates. The solar tax credit (ITC) allows homeowners to save 30% on the cost of a solar panel installation.
- Manufacturer rebates. Find out which manufacturers offer generous rebates to help offset the cost of your installation.
- Promotions. Depending on when you purchase your solar panels, you’ll be eligible for limited-time-only financial incentives.
Saving Money with Local Rebates
Even though Texas lacks a state-led solar tax credit or solar rebate program, there are still a number of regional incentives to help lower the cost of your home’s solar panel installation, including:
- Utility providers: Green Mountain Energy gives Irving solar power users a rebate that varies by system size; it ranges between $500 and $5,625 with an average value of $3,275.
- Solar buyback programs: Available from TXU, Reliant, and Green Mountain, these programs allow you to use your home’s solar installation to both save money and make money as you send excess electricity back to the grid.
- Property tax exemption: While some states increase property taxes after the completion of a residential solar panel installation, Texas does not. As a result of this exemption, Irving homeowners will continue to save money throughout the lifetime of their installation.
- Net metering: Solar energy systems often generate more electricity than is necessary to consume during daylight hours, which is where net metering enters the picture. This billing agreement between you and your utility provider sends your unused electricity back to the grid in exchange for credits on your monthly electricity bill.
Saving Money with Federal Rebates
One of the most significant incentives for installing solar panels at your Irving home is the Solar Investment Tax Credit (ITC), which helps subsidize the purchase and installation of a solar panel installation for homeowners throughout the US. The ITC was originally set to expire in 2023, but the Inflation Reduction Act has extended it to encourage the spread of residential solar. For the next 10 years (through 2032), it will continue at a rate of 30%, allowing you to reduce the amount you pay in taxes by 30% of the cost of your solar panel system. The credit reduces to 26% in 2033 and 22% in 2034.
Saving Money with Manufacturer Rebates
Solar manufacturers want to make it easy for more homeowners to go solar. SunPower periodically offers rebates of up to $1,000 to help reduce your solar panel installation costs. Contact us to see which manufacturer rebates you can take advantage when you’re ready to start your journey to clean, sustainable energy.
Saving Money with Promotions
Buying at the right time can help you save even more. Freedom Solar works to help our customers save money through a variety of promotions throughout the year. Contact us for our current promotions, and we’ll help ensure that you’re getting the best deal possible on your installation.
Harness the Power of the Sun and Start Saving
Whether it’s local or federal rebates, net metering, or a seasonal promotion, there are plenty of ways to help you offset the costs of your installation — and get you closer to a lifetime of green energy. Feeling curious about joining the solar revolution? At Freedom Solar, we know that it’s important to entrust your home to a company you can trust. As the largest residential solar power provider in Texas, we’ve outfitted countless homes with installations. Even big-name businesses like Whole Foods and Office Depot have chosen our team of experts to help them make the switch to solar! When you’re ready, we’re here to help you get started. Contact us today for a free consultation.