Solar Energy Morgan's Point, TX
Are you searching for reliable solar panel installers near Morgan's Point? Get in touch with us.
From lighting the streets to lighting our homes, the solar energy industry is experiencing remarkable growth. It’s in use in space exploration and powering HVACs at home. We cannot underestmate solar energy’s diverse use.
About 173,000 terawatts of the sun’s energy hit the earth at any moment. If the world can harness the sun’s energy for an hour, it can sustain the global demand for a year. Silicon photovoltaic cells help the world tap this immense power. However, the world is yet to scratch the surface.
Currently, solar energy makes up 1.7% of the total US electricity. As solar adoption increases in homes and businesses, this percentage will continue to increase. Morgan’s Place, TX, has 1.1M sq ft of roof space viable for solar at 94% (Project Sunroof data explorer).
If you want the best solar panel installation services in Morgan’s Place, TX, we are the people to call. At Dynamic Slr, we provide unmatched services and quality solar panels with long term warranties.
Solar Energy Costs in Morgan's Point, TX
Over a decade ago, solar costs were about $8.50 per watt. It would cost an average of $51,000 to install a 6 kW system. The average price of solar in Morgan’s Place, TX is 2.77 per watt. Currently, it cost about $12,299 after deducting the tax credit when you install solar panels on your property.
It is worth noting that solar panel installations for commercial projects have reduced costs due to the projects’ size. Morgan’s Place residents have access to the investment tax credit that helps reduce solar panel installation costs.
In 2006, the federal government introduced the ITC credit, which allowed home and business owners to get a 30% tax credit when they switch to solar. This incentive receives the credit for driving growth in the solar energy industry and overall distributed solar PV installs.
During its introduction, the government created a phasedown calendar for the incentive. For the last three years, citizens enjoyed 26% for switching to solar. This incentive was to reduce to 22%, subsequently ending in December for residential installs. Commercial installations would have enjoyed a 10% credit for another year.
However, late last year, the government extended this phase-down period by two more years. As a result, the calendar was pushed two years ahead. This means that if switch to solar this and next year, you will enjoy a 26% credit. The offer will end in 2023 instead of 2021, with commercial installations ending in the year 2024 at 10% credit.
When you install solar panels, this incentive helps to reduce the cost significantly. As a result, you can pay off your system faster and continue to enjoy free electricity. The higher the percentage, the more the installation costs reduce.
Solar Panel Capacity | Cost (2.77 × System Size) | Net Cost (Cost-ITC) |
4 kW | $11,080 | $8,199 |
5 kW | $13,850 | $10,249 |
6 kW | $16,620 | $12,299 |
7 kW | $19,390 | $14,349 |
8 kW | $22,160 | $16,398 |
9 kW | $24,930 | $18,448 |
10 kW | $27,700 | $20,498 |
We encourage you to reach out to us and start the process of going to solar while the subsidy is still high. As a result, you will enjoy a higher incentive percentage.
Solar Buyback Incentive in Morgan's Point, TX
Ideally, you switch to solar so that you can get rid of your electricity bill. If you do not want to invest in a solar storage system, connecting your system to the grid is the next best option. When you connect to the grid, it acts as storage for your excess energy. Additionally, your utility company gives you credit for the surplus energy.
Earning this credit helps you avoid electricity costs when you draw from the grid. There are times when the system’s production is low such as during cloudy days. When it’s cloudy, the efficiency can reduce to about 25%.
Furthermore, you can experience low production during the system’s maintenance or repair. It is good to have the best solar panel installation company in Morgan’s place handle project. Our experienced installation team properly sizes the system, which gives you enough energy to power your home.
Renewable Energy Property Tax Exemption
Another notable benefit of going solar is the increase in your property’s value. Studies show that installing solar panels increases the value of your home by 4%. When this happens, it can attract increased property tax.
However, the state introduced the renewable energy property tax exemption giving homeowners 100% exemption on the appraised amount. Now is the time to go solar. You will enjoy significant incentives and attractive benefits. Reach out to us for excellent services.
