2023 Solar Incentives Guide for Hornsby Bend, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Hornsby Bend.
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 Hornsby Bend solar installers to see how much you can save.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Hornsby Bend?
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
Austin Energy - Residential Solar PV Rebate Program
Austin Energy - Residential Energy Efficiency Rebate Program
Package Unit AC/Heat Pump: $200 - $550
Mini-Split AC/Heat Pump: $250 - $800
AC Tune-Up: $175, max of 5 systems
Pool Pumps: $300 per pump replaced
Heat Pump Water Heater: $800
Smart Thermostat: $25/unit, plus $85 for participating in the Power Partner Thermostat smart energy savings program
Window Air Conditioners: $50 per unit
Weatherization Bonus: Up to $2,400
Solar Screens/Solar Film: $1.00/sq. ft.
Attic Insulation to R-38: varies by original R-value
Duct Replacement: $3.25/sq. ft.
Duct Insulation: $1.00/sq. ft.
Duct System Performance Testing: $200 - first system, $100 each additional system/ $75.00 per new return air improvement (max 3 per system)
External Combustion Air: $20 each
Air Infiltration and Duct Sealing: $0.12/sq. ft.
Total External Static Pressure: $175 for first system, $100 for additional
Return Air/Supply Grilles: $5 each
Improve Supply and/or Return Plenum: $75 each
Additional Attic Access: $25
Insulated Box for Pull Down Stairs: $25
Fan Cover: $25
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to mitigate the cost of installing a solar panel system on your home. This category of financial incentives is intended to encourage more people to switch to renewable energy. Incentives might include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, while others are handled by the state of Texas or by your utility company, county or municipality. Some solar incentives you might qualify for are:
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have a net metering agreement with your Hornsby Bend utility company, it will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in other places you might make back a percentage of the value.
- Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the federal government. These differ from tax deductions.
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar panels. Property tax exemptions allow you to exclude the added value of your solar system when you calculate the amount of property tax you need to pay.
- Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. States or counties will also sometimes offer limited-time rebates. Any rebates you receive will usually come off your total price before tax credits are calculated.
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have heard of. An incentive that most people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a specified percentage of your solar system's cost.
The ITC applies towards solar systems installed after January 1, 2006 and under this program you can deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. This credit can apply towards a solar panel system installed on a primary or secondary residence that you own in the United States. Originally, you could claim 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum claim amount.
Wondering how the ITC applies to your specific situation? Get in touch with your local Hornsby Bend solar panel installation expert to get more information.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). Homeowners can now qualify 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 decrease on a yearly basis until the Clean Energy Credit expires in 2035. Starting in 2023, the expansion will also make credits for energy storage systems even easier to claim.
Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit applies to you, talk to your local Hornsby Bend solar installation expert.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. Like with federal incentives, these can include rebates, tax credits and more. These solar incentives — which might be provided by the state of Texas, or by your county or municipality — might be offered for only a limited time, or on an ongoing basis.
Next Steps for Installing Solar in Hornsby Bend
There are many kinds of solar incentives: those given by the federal government, those given by the Texas government and those given by local utility companies, to name a few. Solar energy utilization has increased enormously in the last 15 years, partially due to these incentives. Speaking with your local Hornsby Bend solar panel installation company is the right first step towards getting all the incentives you qualify for when you switch to solar energy.
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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Hornsby Bend, TX Solar Incentives FAQs
How do I learn if I qualify for different solar incentives?
Typically, solar incentives apply to:
- a new solar panel system
- installed on property that you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including ones handled by the Texas government or by your county/municipality, may have additional qualifications. Speak with your local Hornsby Bend solar installer to learn more about what incentives your project may qualify for.
How much will solar panels save me annually on my electric bill in Hornsby Bend?
Generally, homeowners in Hornsby Bend who install solar panels save approximately $958.56 per year, or approximately $18,212.65 over 20 years after making the switch.
What are the highest-rated solar panel installation companies near me?
To find the best solar panel installer in your area, check out our guide to the top solar companies in Hornsby Bend.
What are some environmental benefits of installing solar panels on my home?
Solar energy is a renewable energy source — by changing where you get your energy, you can help reduce the strain on our planet's resources. You can also reduce your home's CO2 emissions by 400 pounds annually, or roughly 8,000 pounds in 20 years.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or the 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.
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.