2024 Solar Incentives Guide for New Braunfels, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in New Braunfels.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in New Braunfels?
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: $675
Furnace Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
CPS Energy - Solar PV Rebate Program
Next $5 million will pay a flat rebate of $1,500 per project, plus $500 for locally-produced panels
Commercial: $1 million will pay $0.60/Watt, plus an additional $0.10/Watt for locally-produced panels
Guadalupe Valley Electric Cooperative - Residential Energy Efficiency Rebate Programs
Windows: $2/sq. ft.
Heat Pump Water Heater: $300/unit
Heat Pumps/Cooling System: $550-$650/unit (depending on efficiency)
Attic/Wall Insulation: $0.20/sq. ft. of installed insulation
Solar PV Electrical System: $0.75/Watt
Solar Water Heater: $1,000/unit
Window Solar Screens and/or Film: $0.50/sq. ft. of window
New Home Rebate: $3,200
Guadalupe Valley Electric Cooperative - Renewable Energy Rebates
Solar Water Heaters: $1,000/unit
Solar Water Wells: $750/unit
CPS Energy - Solar Hot Water Rebate Program
Pedernales Electric Cooperative - Residential Energy Efficiency Rebate Program
Heat Pump: $250/unit
Ground Source Heat Pump: $250/Ton
Dual Fuel Heat Pump: $250
New Braunfels Utilities - Energy Efficiency and Water Conservation Rebate Programs
Package Unit AC & Heat Pump: $250 - $500
LED Exit Signs: $20 per unit installed, capped at $100
A/C Checkup: $40
Washing Machine: $100
Drought Tolerant Tree: $25 for one tree.
Irrigation Zone Removal: $200/zone, additional $100 if all zones are removed
Rain Barrel/Cistern: $0.50/gallon
Drought Tolerant Landscape: $0.50/sq. ft.
Toilet/Urinal: $50 - $75
Mulch: $12.50/cubic yard installed
Artificial Turf: $2.00/sq. ft.
Solar PV: $0.45 - $0.50/watt
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers broadly to financial incentives that are in place to encourage people to use renewable energy by making solar panels more affordable. You might be eligible for various kinds of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Texas government and others from the federal government. Some broad categories of solar incentives include:
- Rebates: A rebate is a partial refund credited to your account after you've paid for your solar system. Rebates may be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.
- Tax Exemptions: These can come in the form of property tax exemptions, which can let you exclude the value added by your solar panels when paying property tax on your home. They may also include exemptions on sales tax at the time of purchase.
- Net Metering: Be sure to talk with your New Braunfels utility company about signing a net metering agreement. This will allow you to receive credit towards your utility bill every month for the value of excess energy generated by your solar panels. You could receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives may be the first thing that comes to mind. One of the incentives that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a specified percentage of your solar system's cost.
The ITC applies to the value of a solar system installed on your primary or secondary residence in the United States. The solar system must have been installed after January 1, 2006, on a property owned by you for you to claim the credit. Originally, the ITC covered 30% of all system costs (panels, labor, equipment and accessories), although the covered amount has fluctuated slightly over the last few years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.
Reaching out to your local New Braunfels solar panel installer is the best way to learn more about how the ITC applies to you.
The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as retitling it 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 credit percentage will be reduced slightly each year until the end of the program in 2035. Starting in 2023, the expansion will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. Your local New Braunfels solar panel company can answer any questions you have 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. In addition to federal solar incentives, there are often state and local ones, too. These solar incentives — which may be given by the state of Texas, or by your county or municipality — could be offered for only a limited time, or on an ongoing basis.
Next Steps for Installing Solar in New Braunfels
Solar incentives may come from the federal government, the Texas government or your local utility company. The variety of incentives available has contributed to a large increase in solar energy use in the last 15 years. If you're ready to make the switch to solar energy, getting in touch with your local New Braunfels solar panel installation expert is an excellent place to start.
EcoWatch's New Braunfels, TX Solar Incentives FAQs
How much can I save on my electric bill annually if I install solar panels on my house in New Braunfels?
Once you add solar panels to your home in New Braunfels, you can expect to save about $944.21 per year, or approximately $17,939.96 over the next 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly called 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.
Can I use solar and another type of renewable energy in combination to power my home?
You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to go over your ideas with your local New Braunfels solar installation expert. They can help you with the plan for your project and also help you understand the various incentives that you will or won't qualify for.
What if I want to add solar panels to a vacation home, rental property or commercial property? Can I still qualify for incentives?
While we recommend talking to your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives can be claimed on a second home, provided that it is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the details.
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.