2024 Solar Incentives Guide for Azle, TX - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Azle?

Source: https://www.dsireusa.org/

Solar incentives help mitigate the cost of installing a solar panel system on your home. These financial incentives are intended to encourage more Americans to make the switch to renewable energy. These incentives could include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are provided by the federal government, some by the state of Texas and some by your utility company, county or municipality. Types of solar incentives might include:

• Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
• Tax Exemptions: These could come in the form of property tax exemptions, which allow you to exclude the value of your solar system when paying taxes on your house. They may also include exemptions on sales tax at the time of purchase.
• Rebates: Rebates, or partial refunds after a purchase, are usually given before any solar tax credits are calculated. These rebates can be offered by your local utility company, by your state or by your county.
• Net Metering: Net metering factors in after your solar panels are up and running. If you have in place a net metering agreement with your Azle utility company, it will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some locations, this credit is dollar-for-dollar, while in other areas you may make back a percentage of the value.

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Federal Solar Incentives

When you think about solar incentives, you likely think of federal incentives first. A federal incentive many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a specific percentage of the cost of your solar system.

The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006, on a property owned by you for you to be eligible for the credit. The ITC originally paid out 30% of all system installation costs (panels, accessories, labor and equipment), although this amount has fluctuated over the last few years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.

Talking to your local Azle solar panel installer is the best way to understand how the ITC could apply to you.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners are now eligible for a credit of 30% of the total solar system installation costs for projects that began after January 1, 2022, and will be finished by the end of 2032. This percentage will then begin to decrease annually until the Clean Energy Credit ends in 2035. The expansion to the program also makes it easier to get credit for energy storage systems, beginning in 2023.

Click here to learn more about the new Inflation Reduction Act. The easiest way to understand how the new Clean Energy Credit applies to you is to speak with your local Azle solar panel company directly.

State & Local Solar Incentives

Some solar incentives may be provided by state and local governments. As with federal incentives, these might include rebates, tax credits and more. Some incentives are ongoing, while others are available for a limited time. These incentives might be provided by your county or municipality, or by the Texas government.

Next Steps for Installing Solar in Azle

The expanding number of solar incentives available has contributed greatly to the increase in the use of solar power nationwide over the past 15 years. You might qualify for solar incentives from your local utility company, the federal government or the Texas government. We suggest talking to your local Azle solar installer to learn more about these incentives and to ensure that you're getting the largest number possible for your solar panels.