In Dallas and Fort Worth, Texas, homeowners can take advantage of several solar incentives to offset the costs of installing a solar system. Some of the available incentives include:
Federal Tax Credit (ITC): The federal government offers a tax credit of 30% for residential solar systems. Often with solar loan products, you can get wipe 30% off the system cost with the ITC.
Oncor Rebates: This utility offers rebates to homeowners who install solar systems, based on the size of the system and the amount of electricity it generates.
Energy Efficiency Loan Program: The City of Dallas offers low-interest loans to residents who want to install solar systems.
Property Tax Exemption: Texas law exempts solar energy systems from property taxes, which can save homeowners thousands of dollars over the life of the system.
Net Metering: Texas law requires utilities to offer net metering, which allows homeowners to earn credits for the excess electricity their solar system generates. Call to see if your utility offers net metering.