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

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

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

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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 Corinth?

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

CoServ - Solar Energy Rebate

Incentive Type:
Rebate Program
Rebates tiered based on kW installed

Denton Municipal Electric - GreenSense Solar PV/Thermal Rebate Program

Incentive Type:
Rebate Program
PV: $0.40 - $1.20 per AC watt (based on the calculated expected performance of the system)
Solar Water Heater: 30% of invoice

Denton Municipal Electric - Residential GreenSense Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
HVAC: $200 - $400/unit
Smart Thermostat: 50% of invoice - $50.00/unit
Attic Reflective Radiant Barrier: 20% of invoice to $300
Attic Insulation: 50% of invoice - $400/unit
Air Duct: 30% of invoice - $200/unit
Solar Screens: 30% of invoice - $200/unit
Energy Efficient Windows: 30% of invoice - $500/unit
Interconnected Photovoltaic (PV): $0.40 to $1.20 per AC watt up to 50% of cost or $30,000
Solar Water Heater: 30% of invoice - $300/unit
Electric Vehicle: $300
Weatherization: 50% of cost, up to $50

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 are intended to make renewable energy usage more affordable through financial incentives for those who install solar panels on their homes. Incentives could include things like discounts, cash back or monthly utility bill credits. Some incentives are offered by the federal government, while others are offered by the state of Texas or by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar system. Rebates could be offered by your local utility company, your state or your county. The rebates are usually applied before tax credits are calculated.
  • Tax Exemptions: These might come in the form of property tax exemptions, which 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.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
  • Net Metering: You may be able to sign a net metering agreement with your Corinth utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then deduct this value from your monthly utility bill.

Federal Solar Incentives

Federal solar incentives are probably 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 gives you a credit on your taxes equal to a percentage of your solar system's cost.

The ITC originally covered 30% of the total cost of installing a solar system, and has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total cost of installation includes the panels themselves as well as the cost of accessories, equipment and labor. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006 on your primary or secondary residence. The residence must be owned by you and in the United States.

Your local Corinth solar panel installer can give you more information about the ITC and how it might apply to your situation.

The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners can now qualify for a credit of 30% of the total costs of solar system installation for projects that began after January 1, 2022 and will be finished by the end of 2032. This percentage will then decrease annually until the Clean Energy Credit expires in 2035. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.

More information about the new Inflation Reduction Act can be found here. To fully understand how the new Clean Energy Credit applies to you, get in touch with your local Corinth solar installation company.

State & Local Solar Incentives

Rebates, tax credits and more might be claimed at multiple levels. On top of federal solar incentives, there are often state and local ones, too. These incentives may be given out by the Texas government, or by your county or municipality. Some incentives may be ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Corinth

There are many types of solar incentives: those offered by local utility companies, those offered by the Texas government and those offered by the federal government, to name a few. The use of solar energy has increased enormously in the last 15 years, partially due to these incentives. Reach out to your local solar panel installer today to find out more information and to save as much money as possible on a solar system for your Corinth home.

Best National Provider

SunPower

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  • Most efficient panels on the market
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  • Cradle to Cradle sustainability certification
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Best Solar Financing

Blue Raven Solar

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  • Industry-leading in-house financing
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Best Regional Coverage

Momentum Solar

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  • Great warranty coverage
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EcoWatch's Corinth, TX Solar Incentives FAQs

What if I want to add a solar system to a vacation home, rental property or commercial property? Can I still qualify for incentives?

While we recommend speaking with your local solar installer and/or tax professional to best understand what solar incentives apply to you, many apply to a second home, provided that it is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the specifics.

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

Generally, Corinth homeowners who install solar panels save about $901.90 per year, or about $17,136.19 over 20 years after they make the switch.

When does the federal solar tax credit end?

The federal solar tax credit, formerly known as the ITC and now called the Clean Energy Credit, is set to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.

Can I claim incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in may vary depending on which incentives you receive but generally yes, you can claim multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to be sure you are claiming all possible incentives and applying them in the correct order.

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

You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to discuss your ideas with your local Corinth solar installation expert. They can help you with the plan for your project and educate you on the various incentives that you may or may 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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