If you want to turn to renewable energy but are worrying about the cost, fret not. Texas has tax benefits that will help make green energy more affordable. The Texas property tax code states that residents with solar panels or wind turbines could be eligible for up to 100% rebate on property taxes. Here are the tax benefits in Texas for wind and solar power.
Solar Tax Benefits
As one of the sunniest states in the U.S., Texas is #4 for solar energy. Meaning, there’s a chance that you could get by with solar panels only. Texas solar incentives differ by city/county. Also, individual companies have their own rewards program. Starting in Austin, residents are eligible for a solar rebate of up to $2,500. The Austin electric company will also take 10 cents per hour off your bill. San Antonio also has enticing tax relief for solar homes. Residents there can enjoy $1.20/W per panel. The Big D also has big solar savings. Their electric company, Oncor, will save you up to $500 per year on electric bills. Over in Houston, excess energy can be sold back to the utility company for a 100% rebate. South Texas is an especially sunny area, so it’s no surprise that residents along the coastline can sell back excess energy and apply for rebates easily.
Wind Tax Benefits
Go to South and West Texas, and you’ll see fields of wind turbines. Texans can have their own wind turbine or two for their farm/ranch. In Lubbock, where there are more wind turbines than people, residents could save about half on installation costs, and every LBK company offers rebates. Turbines in Denton are becoming increasingly popular, and they are almost able to rely on just wind power completely. As part of their plan to do so, they offer loans to pay for wind installation. As wind power is more used on a larger scale, it is a little harder to find tax incentives for Texas’s wind energy. However, Abilene has great wind energy savings on a smaller and larger scale.
Green Energy Benefits
We recommend switching to renewable energy, especially solar panels. If you’re worried about the HOA, make sure you’re approved before installing. Also, there is a 26% federal tax rebate for installing solar panels or wind turbines. This is the biggest incentive for the switch. But, companies want to help make clean energy more accessible, so most offer savings and rebates. Read here for more information on green energy tax benefits in Texas.
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