Saving With Solar
The Cost of Solar Panels in Texas
One of the most important questions we’re asked from people considering installing solar panels is, How much do solar panels cost?
The costs of solar panels and installation vary based on their make and model as well as labor costs. The latter will depend on factors like the complexity of your roof, conduit attic runs, backup power, and your location. That’s why we offer a free custom quote for every customer based on your home or business and your energy needs.
On average, the cost of solar panels for Freedom Solar customers is just over $30,000 for a 9 kilowatt (kW) residential SunPower system, before local rebates and tax credits (more on that below). That cost includes parts (solar panels, inverters, mounting equipment, conduit, and other components) and installation labor, as well as project management, including HOA approvals, permitting, and inspections. The cost of solar panels in Austin, San Antonio, Houston, and Dallas vary slightly, but the estimate above should give you a general idea.
Keep in mind that the purchase price is not the same thing as the cost of ownership, especially when you consider the cost of not going solar. You are already paying to rent electricity from your utility. Becoming the owner of a solar energy system to make your own power is a smart financial investment.
Solar power is a low-risk, high-return investment if you have the cash to purchase it outright. Otherwise, you can finance the system to achieve a monthly payment that is cash-flow neutral from day one. We offer interest rates as low as 2.99 percent as well as $0 down payment options.
SAVING WITH SOLAR
There are many ways to save on solar, whether you’re talking about saving costs on installing your system or saving money on your utility costs. Below, we’ll detail all of the ways you can save with solar.
Lowering the Price of Your Home Solar Power System
- Local rebates. Reduce the costs of a solar installation with renewable energy incentives from your state and local government.
- Federal rebates. Take advantage of the federal solar tax credit, which can save you 22 percent on the cost of a solar panel installation.
- Manufacturer rebates. Find out which manufacturers are making it easier than ever to go solar, with generous financial incentives toward your solar installation.
- Promotions. Buying at the right time is smart buying, with promotions from solar companies in Austin, Texas, and all over the state who want to help you save.
Saving Money on Utilities
- Utility bills. Say goodbye to high electricity costs. When you go solar, you can dramatically reduce or even completely eliminate your monthly utility bill.
- Net metering. Get paid for your unused energy and save thousands in electricity costs over the lifetime of your solar energy system.
HOW TO SAVE MONEY WITH LOCAL REBATES
Although Texas and Colorado don’t have a state-led solar tax credit or solar rebate program, there are still plenty of utility companies and local governments that offer their own rebates and other incentives — including net metering — to encourage more homeowners to go solar. Depending on where you live in the Lone Star State and the Centennial State, you can take advantage of the following rebates and incentives:
Oncor offers a residential rebate as high as $5,000 for installing solar panels in Dallas. AEP Texas North offers local solar owners up to $0.70 per watt — up to $7,000 — in net metering credits. Smaller utilities and cooperatives across the DFW metroplex and throughout North Texas, such as Garland Power & Light and Denton Municipal Electric, and CoServ, also offer limited annual rebates.
If you live in the Capital City, Austin Energy offers a flat $2,500 post-installation rebate for solar power residents, as well as net metering. Plus, you’re eligible for Austin Energy’s Value of Solar Tariff, which pays you $0.097 for every kilowatt-hour (kWh) your solar panels can generate.
Thanks to CPS Energy, San Antonio homeowners can receive up to a flat incentive at $2,500 per project, which will drop to $1,500 per project when current funding is fully distributed.
Centerpoint Energy does not offer rebates for installing solar panels in Houston, but several retail electric providers such as Griddy have solar-friendly electricity plans.
Holy Cross Energy offers a per-kilowatt (kW) rebate which includes $750 for the first 6 kW and steps down for larger systems. Tax rebates include the Sales and Use Tax Exemption for Renewable Energy Equipment which exempts sales tax on your solar panels in Colorado. Also, the Property Tax Exemption for Residential Renewable Energy Equipment helps mitigate taxes on the increased value of your time. Finally, net metering is also in effect in Colorado meaning you can gain energy credits for the power coming from your system from programs like Xcel Energy.
No matter where you live in Texas or Colorado, there are plenty of local solar incentives to help you lower the cost of a solar panel installation. Find out about more city rebates and offerings here.
Saving Money with Federal Rebates
One of the best incentives to lower the costs of your solar energy system is the federal tax credit for solar. You can reduce the amount you pay in taxes by 22 percent of the cost of your solar panel system. That means that if your system costs $30,000, you get a $6,600 credit on your federal taxes. Add to that the local incentives listed above, and the time to go solar has never been better!
Saving Money with Manufacturer Rebates
Manufacturers want to make it easy for homeowners like you to make the switch to renewable energy. SunPower periodically offers rebates up to $1,000 to help offset the cost of your solar panel installation. Contact us to see which manufacturer rebates are available.
Saving Money with Promotions
Freedom Solar works to help our customers save money through a variety of promotions throughout the year. Contact us for our current promotions.
SAVING MONEY ON UTILITIES
Saving Money on Utility Bills
One of the most attractive reasons to go solar is that you can drastically reduce — or even completely eliminate — your monthly electric bill. Because you’re harnessing the power of the sun, you’re using an inexhaustible, and free, source of energy instead of paying a utility company for it.
The amount you’ll save will depend on how much energy your system produces and how much you consume, but the biggest benefit is a significant decrease in your monthly utilities.
You’ll also avoid increasing electricity rates. Electricity prices can be unpredictable and often increase over time. But because the amount you’ll save with solar power is usually equal to the amount you’ll avoid paying an electricity supplier, you won’t be affected by surging energy prices in your area. When you install a solar panel system, you can lock in your energy costs at a constant rate and make them more predictable.
Saving Money with Net Metering
A solar panel system is a workhorse, and it can often generate too much electricity compared to using at any given time. Net metering is a billing agreement between you and your utility provider that serves as a solution for that excess energy. It sends your unused electricity back to the grid, giving you credits on your electricity bill in exchange.
During the times when your solar panels aren’t producing enough electricity to meet your energy needs — say, at night — you can tap into those net metering credits to offset your electricity bill. That means that not only are you producing your own energy from your solar installation, but you’re also saving on the electricity you use from your utility provider. Win-win!
All the Ways You Can Save with Solar
A solar installation is a major home improvement project. Still, most homeowners go solar with no money down up front, thanks to all the incentives that decrease the cost of a solar energy system. 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 free renewable energy. For your custom quote, contact us today.
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