2023 Solar Incentives Guide for Corpus Christi, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Corpus Christi.
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 Corpus Christi?
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
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to make renewable energy usage more affordable via 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 handled federally, while others are offered by the state of Texas or by your utility company, county or municipality. Some broad categories of solar incentives include:
- 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 exclude the value added by your solar system when calculating property tax for your house.
- Net Metering: You may be able to sign a net metering agreement with your Corpus Christi utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your monthly utility bill.
- Rebates: Rebates, or cash back after a purchase, are typically given 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 Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the federal government.
Federal Solar Incentives
When thinking about solar incentives, federal incentives may be the first thing that comes to mind. A federal incentive many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a specific percentage of your solar system's cost.
The ITC applies to the value of a solar system installed on your primary or secondary residence in the United States. The solar panels must have been installed on a property you own after January 1, 2006 for you to be eligible for the credit. Originally, the ITC covered 30% of all system installation costs (panels, accessories, equipment and labor), although the total amount has fluctuated over time between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the claim amount.
To find out exactly how much money the ITC could save you, get in touch with your local Corpus Christi solar panel installation expert.
In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. Homeowners are now eligible for a credit equal to 30% of the total solar system installation costs for projects that began after January 1, 2022 and will be finished by the end of 2032. The percentage will then begin to decrease on a yearly basis until the Clean Energy Credit ends in 2035. The program expansion also makes it easier to get credit for energy storage systems, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Corpus Christi solar panel company is the best resource for answering your questions about the new Clean Energy Credit and how it applies to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. As with federal incentives, these may 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 your county or municipality, or from the Texas government.
Next Steps for Installing Solar in Corpus Christi
Nationwide solar energy use has significantly increased in the past 15 years, in part due to the growth in the number of solar incentives. You can obtain these incentives from your local utility company, the Texas government or the federal government. When you're ready to switch over to solar energy, getting in touch with your local Corpus Christi solar panel installation expert is a great first step.
EcoWatch's Corpus Christi, TX Solar Incentives FAQs
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.