2023 Solar Incentives Guide for Boerne, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Boerne.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 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 Boerne?
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 Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
CPS Energy - Solar PV Rebate Program
Next $5 million will pay a flat rebate of $1,500 per project, plus $500 for locally-produced panels
Commercial: $1 million will pay $0.60/Watt, plus an additional $0.10/Watt for locally-produced panels
CPS Energy - Solar Hot Water Rebate Program
Pedernales Electric Cooperative - Residential Energy Efficiency Rebate Program
Heat Pump: $250/unit
Ground Source Heat Pump: $250/Ton
Dual Fuel Heat Pump: $250
Federal Residential Renewable Energy Tax Credit
Solar incentives are meant to help mitigate the cost of installing a solar panel system on your home. Financial incentives like these are intended to encourage more Americans to convert their home partially or fully to renewable energy. Incentives can include things like discounts, cash back or credit on your utility bill each month. Some incentives are handled federally, while others are offered by the state of Texas or by your specific utility company, county or municipality. Some broad categories of solar incentives include:
- Net Metering: Be sure to speak with your Boerne utility company about signing a net metering contract. This allows you to receive credit towards your monthly utility bill for the value of excess energy generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Rebates: Rebates, or cash back after a purchase, are typically applied before any solar tax credits are calculated. Solar rebates may be given by your local utility company, by your state or by your county.
- Tax Exemptions: Tax exemptions can come in two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption. This allows you to ignore the added value of your solar system when paying property tax on your house.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives are likely the first thing that comes to mind. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit that reduces your taxes by a specified percentage of the money you spend on solar panels for your home.
The ITC is applied to the total cost of solar panel installation, including the panels themselves as well as accessories, labor and equipment. You can claim this credit for panels installed after January 1, 2006 on a primary or secondary residence that you own, as long as it 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 claim amount.
To understand exactly how much money the ITC could save you, contact your local Boerne solar panel installer.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The Clean Energy Credit lasts until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit; this amount will decrease slightly each year until the end of the current program. Starting in 2023, it will also be easier to obtain credits for energy storage systems under this new program.
More information about the new Inflation Reduction Act can be found here. Your local Boerne solar panel installation experts can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
Tax credits, rebates and more can be provided at multiple levels. On top of federal solar incentives, there are often state and local ones, too. These incentives may be given out by your county or municipality, or by the Texas government. Some are ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Boerne
You can apply for solar incentives from the Texas government and the federal government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped increase nationwide solar energy use enormously. When you're prepared to make the switch to solar energy, reaching out to your local Boerne solar panel installation expert is a great first step.
EcoWatch's Boerne, TX Solar Incentives FAQs
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