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

In this guide, we'll cover the latest solar incentives and rebates available in Bellmead.

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.
Get a free quote from one of our trusted Bellmead solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

Renewable Energy Systems Property Tax Exemption

Incentive Type:
Property Tax Incentive

Texas Gas Service - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Free Equipment Program: Free appliance installation and weatherization services
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

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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


Solar incentives help mitigate the cost of installing solar panels on your home. This category of financial incentives is designed to encourage more people to switch to renewable energy. Solar incentives could include upfront discounts, cash back 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. Some broad categories of solar incentives include:

  • Tax Exemptions: Your solar panel system might qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to exclude the added value of the solar panels when calculating property taxes on your house.
  • Net Metering: Net metering becomes relevant once your solar system is up and running. If you've signed a net metering agreement with your Bellmead utility company, they will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other areas you might receive a refund equivalent to a percentage of the value.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (A tax credit is different from a tax deduction.)
  • Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually be deducted from the total price before tax credits are calculated.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 likely to be the first thing that you think of when you think about solar incentives. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a certain percentage of your solar system's cost.

The ITC applies to the total cost of installing solar panels, including the panels themselves as well as accessories, equipment and labor. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence that you own and that is located in the United States. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum amount you can claim.

To understand exactly how much money the ITC could save you, speak with your local Bellmead solar panel installer.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. For solar systems installed between January 1, 2022, and December 31, 2032, homeowners can receive a credit for 30% of the total cost. This percentage will decrease annually after 2032 until the Clean Energy Credit ends in 2035. Beginning in 2023, it will also be easier to claim credits for energy storage systems with the new act.

Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit will apply to you, reach out to your local Bellmead solar installation expert.

State & Local Solar Incentives

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

Next Steps for Installing Solar in Bellmead

Nationwide solar energy use has gone up tremendously in the past 15 years, in part thanks to the proliferation of solar incentives. You can obtain these incentives from your local utility company, the Texas government or the federal government. Your local Bellmead solar panel installation expert can help you learn more about which incentives you may qualify for, and get you started on the path to switching to renewable energy today.

EcoWatch's Bellmead, TX Solar Incentives FAQs

How can I learn if I qualify for specific solar incentives?

It's a smart idea to get in touch with your local Bellmead solar installer to get an understanding of which incentives your project may qualify for. Typically, solar incentives apply to new solar systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those provided by the Texas government, might have additional requirements.

How much will solar panels save me on my electric bill in Bellmead annually?

Generally, homeowners in Bellmead who install solar panels save approximately $826.95 per year, or around $15,712.06 over 20 years after making the switch.

Who installs solar panel systems near me?

To learn about the best solar panel installation companies near you, take a look at our article on the best solar companies in Bellmead.

When does the federal solar tax credit end?

The Clean Energy Credit (previously referred to as the federal solar tax credit, or the ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

Can I use a combination of solar and another type of renewable energy to power my home?

Yes, you can use multiple types of renewable energy to power your home — for example, a combination of geothermal and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. You should discuss your plan with your local Bellmead solar installation expert, to get an understanding of what will be needed and what kinds of incentives you might or might 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.

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