2024 Solar Incentives Guide for Seguin, TX - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Seguin.
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 Seguin?
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" includes a range of financial incentives put in place to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. You may qualify for several kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Texas and others from the federal government. Categories of solar incentives include:
- Net Metering: Net metering is an incentive you can get after your solar system is up and running. If you've signed a net metering agreement with your Seguin 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 places, this is a dollar-for-dollar credit, while in other places you might make back a percentage of the value.
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions allow you to ignore the value added by your solar system when calculating the amount of property tax you need to pay on your home.
- Tax Credits: Tax credits reduce, dollar-for-dollar, the total amount of tax you owe the government. Tax credits differ from tax deductions.
- Rebates: A rebate is a partial refund given after you've purchased your solar system. Rebates could be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before calculating tax credits.
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
Federal solar incentives are likely to be the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is probably the most well-known federal solar incentive. The ITC provides you with a tax credit for a specific 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 panels have to have been installed after January 1, 2006, on a property you own for you to claim the credit. Originally, the ITC covered 30% of all system costs (panels, equipment, accessories and labor), although the amount has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.
Your local Seguin solar panel installer can offer more information about the ITC and how it might apply to your situation.
In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now titled the Clean Energy Credit. For solar systems installed between January 1, 2022, and December 31, 2032, homeowners can apply for a credit for 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit expires in 2035. Starting in 2023, it will also be easier to obtain credits for energy storage systems under this new program.
Click here to learn more about the new Inflation Reduction Act. To understand how the new Clean Energy Credit will apply to you, get in touch with your local Seguin solar installation company.
State & Local Solar Incentives
Some solar incentives may be provided by state and local governments. Like with federal incentives, these may include rebates, tax credits and more. Incentives may be offered by your county or municipality, or by the state of Texas. Certain incentives are available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Seguin
You can receive solar incentives from the federal government and the Texas government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. Contact your local solar panel installation expert today to find out more information and to save the most money possible on solar panels for your Seguin home.
EcoWatch's Seguin, TX Solar Incentives FAQs
How much will solar panels save me on my electric bill in Seguin annually?
When you add solar panels to your home in Seguin, you can anticipate savings of about $991.46 per year, or approximately $18,837.68 over the next 20 years.
If I trade in my appliances for ones that use solar energy, are there incentives I can claim?
The new Inflation Reduction Act includes provisions for a number of incentives designed to reward homeowners who make 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.
Can I claim incentives both towards the initial cost of solar panels, and later as reimbursement?
The order that incentives will be applied in could vary depending on which incentives you are claiming but in most cases yes, you can receive multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to make sure you are claiming all the incentives you qualify for and applying them in the correct order.
Can I use a combination of multiple types of renewable energy to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Make sure you go over your plan with your local Seguin solar installation expert. They can help you as you plan for your project and also help you understand the various incentives that you may or may not qualify for.
What if I add solar panels to a rental property, vacation home or commercial property? Can I still qualify for incentives?
Many solar incentives are intended to apply to a property located within the United States that you own; most secondary residences will fall into this category. Other solar incentives may be available for commercial properties, depending on the details. We recommend speaking with your local solar installer and/or tax professional to best understand what incentives apply to your specific situation.
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.