2023 Solar Incentives Guide for Beeville, TX - Tax Credits & Rebates

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

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

Solar incentives are meant to encourage homeowners to switch to renewable energy by providing financial incentives that lower the burden of solar panel installation and use. The incentives may include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are given by the federal government, some by the Texas government and some by your specific utility company, county or municipality. Categories of solar incentives include:

• Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
• Tax Exemptions: These could come in the form of property tax exemptions, which can let you exclude the value of your solar system when calculating the taxes you pay on your home. They may also include exemptions on sales tax at the time of purchase.
• Net Metering: You can sign a net metering contract with your Beeville utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your monthly utility bill.
• Rebates: Solar rebates may be offered by your county or state, or by your local utility company. These rebates are essentially partial refunds that are applied after your purchase of solar panels and before tax credits are calculated.

Federal Solar Incentives

Federal solar incentives are likely to be the first thing that you think of when you think about solar incentives. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a certain percentage of the money you spend on solar panels for your home.

The ITC can be applied to solar systems installed after January 1, 2006 and lets you deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. This credit can apply towards solar panels installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum claim amount.

To find out exactly how much money the ITC could save you, talk to your local Beeville solar panel installer.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners may be eligible for a credit for 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit expires in 2035. The program 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 Beeville solar panel installation experts can answer any questions you have and explain how the new Clean Energy Credit may apply to you.

State & Local Solar Incentives

Some solar incentives are often also offered at the local or state level. Similar to federal incentives, these might include rebates, tax credits and more. Certain incentives are offered for only a limited time, while others are ongoing. Your local incentives could come from the Texas government, or from your specific county or municipality.

Next Steps for Installing Solar in Beeville

There are many types of solar incentives: those provided by local utility companies, those provided by the federal government and those provided by the Texas government, to name a few. The use of solar energy has increased tremendously in the last 15 years, partially due to these incentives. When you're prepared to switch over to solar energy, getting in touch with your local Beeville solar panel installation expert is a great first step.