Truth be told, solar panels are worth it just about anywhere, since the sun shines everywhere. However, having solar panels in a sunny state like Texas makes it that much better as we are able to convert that much more sun into electricity.
Ranked in the Top-5 most solar-acclimated states in the nation, Texas is a trend-setter and innovator, setting a precedent for all other states to follow suit.
A recent report from the SEIA (Solar Energy Industries Association), Texas has increased its solar electricity capacities by 60% in less than a year! These staggering figures show no sign of satiating as our public officials are aware of the consequences if we continue in our current energy demands.
Petroleum and natural gas have served us well but they are not ‘renewable,’ which should be our first indication of change being on the horizon.
The Benefits of Solar Power
Most importantly, it is renewable. Business Standard News reported that we are likely to run out of oil in the next 53 years, natural gas in 54, and coal in 110. We have burnt through these resources so rapidly (literally burnt through them) and after existing on this planet for hundreds of millions of years, we have blown through them in a destructive period of 200 years.
The Savings are Staggering – As Carol Mark’s found on the Penny Hoarder Blog, her bills went from upwards of $300 to $45 per month. It has also decreased by 99% in the last 75 years, which is a record-breaking flip of affordability. With prices being at $300 per watt in 1956, and now around $3.00 per watt, the savings can be in the upper region of $30,000 across a 25-year period, with rates only set to become progressively reasonable.
Return on Investment and Higher Property Values – In an age where the world is transforming to vegan, cruelty-free, natural products, and renewable energy, more and more home buyers will be looking for a home that meets their ethical standards of not wanting a large carbon footprint. This will increasingly have significance in the next decade’s real estate market. As Wells Solar describes, at “approximately $4.00 per watt of installed solar capacity. For a typical 6-Kilowatt solar PV system, this means that solar can add $24,000 to your home’s resale value!”
Solar power offers a source that we have in spades – Sunshine! Imagine the savings when you don’t have to rely on energy sources and costly expenses to cook your meals and do your laundry. All you need is a sunny day and a solar panel, and you’re in business!
Texas Incentives – Solar Tax Credit
Texas is adapting to these renewable initiatives as a leader of the entire nation. With Texas already beating some of their renewable energy goals in 2009 that they were set to complete in 2025, this state has already made incredible headway in the energy revolution.
We are so happy about this Tax Credit incentive and you should be too!
Some of the key attributes of this Solar Tax Credit that you need to be aware of include:
In 2019, the Tax Credit was approved by legislatures but you will need to act fast.
Texans will receive a federal tax credit on the cost to install a new system for residential properties, literally making your solar up-front investment a third less than it retails for.
This credit was 30% in 2019 but has already decreased to a 26% tax credit in 2020 and until 2022.
THIS is the time to convert to Solar Energy in Texas.
How Much Does It Cost to Convert?
The costs involved to convert to solar power will mostly be comprised of the panels and installation costs, which will depend on how much area there is to cover.
As the Energy Sage describes, “The average price per watt for solar panels ranges from $2.57 to $3.35 and solar panel costs for an average-sized installation in the U.S. usually range from $11,411 to $14,874 after solar tax credits.”
As another advantage, it should not raise your homeowner’s insurance policy because solar-powered energy systems are covered, although you may want to raise the approximate value you are covered on your home.