2023 Solar Incentives Guide for Copperas Cove, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Copperas Cove.
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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Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Copperas Cove?
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
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
Source: https://www.dsireusa.org/
Solar incentives mitigate the cost of installing a solar panel system on your home. Financial incentives like these are intended to encourage more Americans to switch to renewable energy. These incentives might include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of Texas and some by your specific utility company, county or municipality. Some broad categories of solar incentives include:
- Rebates: A rebate is a partial refund credited to your account after you've paid for your solar system. These may be offered by your local utility company, your county or your state. The rebates are usually applied before tax credits are calculated.
- Net Metering: You can sign a net metering contract with your Copperas Cove utility company that will apply to all or a percentage of the excess electricity your solar panels generate. They will then deduct this value from your monthly utility bill.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
- Tax Exemptions: Your solar panel system could qualify for exemptions on both sales and property tax. Sales tax exemptions are effective 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.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives may be the first thing that comes to mind. One of the incentives many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a specific percentage of your solar system's cost.
The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar panels have to have been installed after January 1, 2006 on a property you own for you to claim the credit. Initially, the ITC applied to 30% of all installation costs (panels, equipment, accessories and labor), although the total 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.
Contacting your local Copperas Cove solar panel installation expert is the best way to understand how the ITC applies to your situation.
The ITC was both renewed and expanded by 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 costs of solar system installation for projects started after January 1, 2022 and completed before the end of 2032. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. The program expansion also makes credits for energy storage systems even easier to claim, starting in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Copperas Cove solar panel company is the best resource for answering your questions about the new Clean Energy Credit and how it will apply to you.
State & Local Solar Incentives
Rebates, tax credits and more can be claimed at multiple levels. In addition to federal solar incentives, there are often state and local ones as well. Some incentives are offered for only a limited time, while others are ongoing. Your local incentives might come from the Texas government, or from your specific county or municipality.
Next Steps for Installing Solar in Copperas Cove
There are a number of different solar incentives: those offered by the federal government, those offered by the Texas government and those offered by local utility companies, to name a few. Solar energy use has increased enormously in the last 15 years, partially due to these incentives. Your local Copperas Cove solar panel installer can give you more information about which incentives you can apply for, and get you started on the path to switching to renewable energy today.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Copperas Cove, TX Solar Incentives FAQs
Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?
Many solar incentives are intended to apply to a property you own that is located within the United States; most secondary residences will fall into this category. Other solar incentives may be available for commercial properties, depending on the details. We recommend speaking with your local solar installer and/or tax professional to better understand what incentives may apply to your specific situation.
What are the top solar panel installation companies 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 Copperas Cove.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
If I switch my appliances out for ones that use solar energy, are there credits I can claim?
The recently passed Inflation Reduction Act introduces several incentives that reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
Can I use multiple types of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also combine renewable energy generation with a backup source of non-renewable energy. You should discuss your plan with your local Copperas Cove solar installation expert, to make sure you know what you'll need 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.