Federal Tax Credits – Act Now!
There are many government tax incentives for going solar. As part of the recent Inflation Reduction Act of 2022, the Federal Investment Tax Credit (ITC) has been increased to 30% and extended for 10 more years. This is great news for Texans who installed solar in 2022 and for new installations to come.
This solar credit reduces the amount you owe at the end of that year’s taxes, rather than the amount you pay taxes on. There is no cap on the value you can deduct, so regardless of the type or size of install, you will get a 30% tax credit when you install.
Texas Solar Incentives
The high percentage of beautiful sunny days in Texas makes this a great state for solar but unfortunately, there are no statewide tax incentives currently offered. The good news is that Central Texas homeowners can take advantage of local property tax exemptions for PV solar systems and other money-saving programs.
Texas Net Metering Program
If your PV system produces more electricity than you use, the electric company will pay you, in the form of a bill credit, for the excess solar power generation.
Utility Company Rebates
There are also rebates available from many utilities in Texas. When you install with Longhorn Solar, we will walk you through these savings to make sure you’re making the most of your panels right out of the gate.