2023 Solar Incentives Guide for Oak Ridge North, TX - Tax Credits & Rebates

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

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 Oak Ridge North solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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 Oak Ridge North?

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

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 encourage people to switch to renewable energy by providing financial incentives meant to lower the burden of solar panel installation and use. You might be eligible for various types of incentives, including discounts, cash back or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Texas and others from the federal government. You might qualify for any of the following types of solar incentives:

  • Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions allow you to exclude the value that your solar panels add when you're calculating the amount of property tax you need to pay on your house.
  • Rebates: A rebate is a partial refund given after you've purchased your solar panels. These may be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.
  • Tax Credits: Tax credits reduce, dollar-for-dollar, the total amount of tax you owe the federal government. Tax credits differ from tax deductions.
  • Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you've signed a net metering agreement with your Oak Ridge North utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in others you may receive a refund equivalent to a percentage of the value.

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have heard of. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of your solar system's cost.

The ITC applies to the total cost of solar system installation, including the panels themselves as well as labor, equipment and accessories. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence that you own and that is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.

To better understand how the ITC might apply to your situation, contact your local Oak Ridge North solar panel installer and ask for more information.

In August 2022, the Inflation Reduction Act expanded and extended the ITC, now titled the Clean Energy Credit. The Clean Energy Credit has increased the current credit up to 30% for solar installation projects started after January 1, 2022 and completed by the end of 2032. At this point, the percentage will be reduced slightly each year until the program expires in 2035. The 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 Oak Ridge North solar panel installer can answer your questions and explain how the new Clean Energy Credit applies to you.

State & Local Solar Incentives

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

Next Steps for Installing Solar in Oak Ridge North

Solar incentives may come from your local utlity company, the Texas government or the federal government. The growing number of available solar incentives has facilitated the nationwide growth of solar energy use in the last 15 years. We recommend talking to your local Oak Ridge North solar installation expert for more information about these incentives and to make sure that you're getting the largest number possible for your solar panels.

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EcoWatch's Oak Ridge North, TX Solar Incentives FAQs

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

While we recommend talking to your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many incentives can be claimed on a second home, so long as that home is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the details.

How do I know if I qualify for specific solar incentives?

It's best to speak with your local Oak Ridge North solar installer for a better understanding of which incentives your project may qualify for. Usually, solar incentives apply to new solar systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, such as those offered by the government of Texas, might have other requirements.

How much can I save on my electric bill annually if I install solar panels on my house in Oak Ridge North?

Generally, homeowners in Oak Ridge North who install solar panels save around $970.12 per year, or around $18,432.21 over 20 years after they make the switch.

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.

If I switch my appliances out for ones that can utilize solar energy, are there benefits that I can claim?

The new Inflation Reduction Act introduces several incentives that reward homeowners for making eco-friendly upgrades. Some of these incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

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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