2024 Solar Incentives Guide for Anna, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Anna.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Anna?
Renewable Energy Systems Property Tax Exemption
Texas Gas Service - Residential Energy Efficiency Rebate Program
Home Improvement (includes attic insulation, duct sealing, duct insulation, duct replacement, high-efficiency gas furnace, and Wi-Fi thermostat: Up to $1000
Solar Water Heater With Natural Gas Backup: $750
Tankless or Super High-efficiency Water Heater: $650
Furnace: $675
Furnace Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to make renewable energy usage more affordable via financial incentives to help people install solar panels on their homes. You might qualify for several kinds of incentives, such as discounts, cash back or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Texas government and others from the federal government. You might qualify for any of the following types of solar incentives:
- Net Metering: You can sign a net metering agreement with your Anna utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your utility bill each month.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
- Rebates: Your solar installer might help you claim a rebate, or partial refund after purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually be deducted from the total price before any tax credits are calculated.
- Tax Exemptions: Tax exemptions may come in two forms. The first is sales tax exemption, applied when you purchase solar panels. The second is property tax exemption, which allows you to ignore the added value of your solar system when calculating property tax for your home.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Federal Solar Incentives
Federal solar incentives are probably the first thing that you think of when you think about solar incentives. A federal incentive that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a predetermined percentage of the cost of your solar system.
The ITC originally covered 30% of the cost of installing solar panels, although it has fluctuated slightly over the last few years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The cost of installation includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum amount you can claim. The ITC can be applied to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
Your local Anna solar panel installation expert can provide more information about the ITC and how it may apply to your situation.
In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now referred to as the Clean Energy Credit. With the new provisions, solar installation projects started after January 1, 2022, and completed by the end of 2032, might qualify for a 30% tax credit. This percentage will then decrease slightly each year until the current Clean Energy Credit expires in 2035. The expansion also makes it easier to get credit for energy storage systems, starting in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Anna solar panel installers are the best people to answer your questions about the new Clean Energy Credit and how it may apply to you.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. As with federal incentives, these could include rebates, tax credits and more. Certain incentives are offered for only a limited time, while others are ongoing. Local solar incentives could come from your county or municipality, or from the Texas government.
Next Steps for Installing Solar in Anna
Solar incentives can come from the federal government, the Texas government or your local utility company. The variety of available incentives has contributed to a large increase in solar energy use in the last 15 years. When you're ready to make the change to solar energy, getting in touch with your local Anna solar panel installation expert is an excellent place to start.
EcoWatch's Anna, TX Solar Incentives FAQs
How much will solar panels save me annually on my electric bill in Anna?
After adding solar panels to your Anna home, you can anticipate savings of approximately $1,079.70 per year, or around $20,514.26 over the next 20 years.
What are some of the environmental benefits of switching to solar energy?
You can decrease your carbon footprint by 400 pounds of CO2 annually when you switch to solar panels. This adds up to approximately 8,000 pounds over 20 years. Solar is also a renewable energy source, which means that making the switch reduces the drain on our planet's resources.
I want to switch my appliances out for ones that are more energy-efficient. Are there any benefits I can claim?
The recently passed Inflation Reduction Act introduces multiple incentives designed to reward homeowners for making eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.
Can I use solar and another type of renewable energy in combination to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Make sure you go over your ideas with your local Anna solar installer. They can help you with the plan for your project and give you an understanding of various incentives that you may or may not qualify for.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.