The Latest Guide for Texas’ Excellent Solar Incentives
“Everything is bigger in Texas,” and so are the solar incentives! One of the best places to invest in solar is in the Lone Star state, with an average of 230 to 240 sunny days per year. Suffice to say, there’s plenty of sunlight wherever you are in Texas. As such, many homeowners and businesses look to take advantage of Texas’ abundant sunlight by investing in new solar panel systems. Best of all, Texas’ federal, state and local solar incentives make adopting solar one of the most energy-conscious and cost-effective decisions you can make.
Inflation Reduction Act
The Inflation Reduction Act approved in 2022 included a significant revamp of the Investment Tax Credit (ITC) for solar energy, now called the Residential Clean Energy Credit. Prior to this law, some of the federal tax credit programs for solar were being gradually eliminated. Nevertheless, the Inflation Reduction Act renewed the value of the country’s solar tax credit program for a span of 12 years. The law allows individuals who install new solar panels to receive a tax credit equivalent to 30% of the installation cost. This credit will be valid until 2033, after which it will gradually decrease to 26% in 2034, 22% in 2034, and ultimately expire in 2035.