Solar Energy Needville, TX
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Solar energy is an abundant resource that provides clean energy. Currently, there are 88.9 GW of solar energy installed capacity in the US. According to Wood Mackenzie projections, the industry grew at 43% in 2020 despite the pandemic. Projections show the US will exceed 107 GWdc of solar panel installations in the next 5 years.
The drop in solar prices by over 70% has facilitated the growth in the industry. The affordability of solar has made it possible for homeowners to install, increasing distributed PV installations. In 2010 homeowners would need about $40,000 for an average system. Now, that price is below $17,000.
Have you decided to go solar? If so, you need the best solar panel installers in Needville, TX. At Dynamic Slr, we design the PV system based on your energy goals. We also assist you in maximizing your home’s solar potential. Talk to us for a free solar quote.
Solar Energy Costs in Needville, TX
As the cost of electricity rises, solar prices are on a downward trajectory. Solar costs are about $2.8 per watt in Needville, TX for residential installations. However, commercial premises have reduced costs due to the size of the project. If you purchase a 6 kW system, it costs around $16,800. But when you deduct the ITC incentive, you will part with $12,432.
To encourage solar panel installations, the federal government introduced the investment tax credit or the ITC in the early 2000s. This allowed home and business owners to get a 30% of the total installation cost as tax credit. As a result, this incentive encouraged PV installations, and the industry grew by an average of 49% annually over the last decade.
The government has been trying to phasedown the incentive over the last few years though it has received several extensions. Currently, you can enjoy a tax credit of 26%. This percentage dramatically reduces the cost of solar, as the table below shows.
Solar Panel Capacity | Cost (2.8 × System Size) | Net Cost (Cost-ITC) |
4 kW | $11,200 | $8,288 |
5 kW | $14,000 | $10,360 |
6 kW | $16,800 | $12,432 |
7 kW | $19,600 | $14,504 |
8 kW | $22,400 | $16,576 |
9 kW | $25,200 | $18,648 |
10 kW | $28,000 | $20,720 |
You should start the solar installation process while the percentage is still high. This way, you will enjoy significantly reduced installation prices. Our team of solar panel installers in Needville, TX, is dedicated to giving you the best experience.
Solar Energy Incentives in Needville, TX
Apart from the federal tax incentive, home and business owners enjoy state incentives. The incentives’ goal is to safeguard the solar investment as they encourage many homes and businesses to go solar.
The Buyback Incentive
Besides the federal tax incentive, you can benefit from the buyback option. This is an incentive offered by utility companies. When your system generates excess energy, the utility company gives you credit. You can use this credit when your system’s production is low.
Cloudy days can affect your system’s production by reducing it to 25%. Additionally, you may need to maintain the system or repair it, which can affect the output. Instead of incurring costs during such days, you can use the credit to cover the energy you use without added costs.
You should ensure you have enough energy to cater for such moments. At Dynamic Slr, we design and install high-quality solar panels. We also visit your home to inspect the installation site, ensuring we install solar panels in areas without shade or obstacles. As a result, you receive maximum output from the system safeguarding your investment.
Renewable Energy Property Tax Exemption
You may not have known this, but when you install solar panels on your property, your home’s value increases. This increase is an added benefit of going solar. For this reason, the state introduced the renewable energy property tax exemption. When you install solar, you receive a 100% property tax waiver on the appraised amount.
Additionally, there is a law restricting homeowners from prohibiting solar panel installation. Though there may be strict guidelines that you may need to follow, the HOAs cannot prevent PV installations. This law offers protection to homeowners giving them the freedom to choose solar panels.
