Is 2023 a Good Year to Go Solar?

If you’ve been waiting for solar panels to get cheaper before you install them, the wait is over. Solar costs have decreased considerably over the past few years, and solar panel installations are more affordable than ever. According to the Solar Energy Industries Association (SEIA), solar costs in Texas have fallen by 52% over the past 10 years.

When you go solar in 2023, you’ll qualify for a 30% solar tax credit, formally known as the solar Investment Tax Credit (ITC). When you file your annual tax return, the solar tax credit will reduce what you owe in federal income taxes by 30% of your total solar installation costs. For most residential solar installations, the solar tax credit translates into thousands of dollars in savings!

The solar tax credit has been in place for many years, but it was recently expanded by the Inflation Reduction Act. The new Inflation Reduction Act solar tax credit covers:

• Solar panels
• Solar inverters
• Wiring and racking equipment
• Solar batteries (must have a capacity rating of 3 kWh or greater)
• Solar installation costs
• Solar permitting costs

Looking for a solar installer near you that can help you take advantage of solar tax credits? At Texas Engineered Solar, we stay on top of incentives like the ITC to make sure you get the best deal possible on your solar panel installation.

Although there’s no state-wide policy for net billing in Texas, many utilities offer net billing, including CPS Energy. Net billing is a solar incentive system that allows you to trade electricity with your utility.

How Does Net Billing Work?

We get a lot of sun here in Texas, and on most days, your solar panels will generate more electricity than you need. With net billing, your excess solar power is sent to the electric grid. You’ll be credited for the electricity you send to the grid, and you can use your credit to pay for the electricity you buy from the grid at night or when it’s too cloudy for your solar panels to work.

Solar companies in Texas install special bi-directional electric meters to keep track of net billing. If your utility offers a net billing or net metering program, your solar installer will put your new meter in place, and it will automatically track the electricity you export to the grid.

If you’re worried about another storm sweeping through Texas and knocking out your power, you should absolutely go solar now. When paired with battery storage, solar panels can provide backup power during an outage, so you can keep essentials running while the grid is down. With severe storms becoming more and more common, solar and battery systems can be a lifeline for Texas homeowners.

Don’t miss out on the benefits of solar! Texas Engineered Solar can help you decide whether solar makes sense for your home. We are a locally owned San Antonio solar company and we know what works for local homeowners. We’ll never sell you something you don’t need and are only here to help you save money. If solar isn’t viable for you, we’ll tell you! We are a no-pressure Texas solar company near you, and you can trust us for honest answers to all your questions about solar energy.