More on Texas solar rebates
Texas — which already leads the country in wind generation — is jockeying to become a leader in solar power, too. As Margaret outlined last week,the Texas Senate passed a bill that would increase the subsidiesavailable for solar installations across the state. The bill, which hasbeen forwarded to the House for approval, proposes $500 million insolar incentives and would include rebates, which would be initiallyset as follows:
- $2.40 per watt for residential photovoltaic (PV) systems
- $1.50 per watt for commercial PV systems
- $1.00 per watt for installations in the industrial sector
For the residential customer, the rebate offered inTexas is more generous than the $1.90 per watt being offered under theCalifornia Solar Initiative. The new incentive would reduce the cost ofa three kilowatt (kW) residential photovoltaic solar installation by$5,040, with the payback period being reduced from approximately 14years to approximately nine years (our analysis only considers the newstate program and existing 30% federal incentive, and ignores anybenefit from county- or city-based incentives). The incentive levelswill decline by at least 5% annually.
This is great news for Texans who want to go solar: the right mix offederal and state incentives can dramatically improve the return oninvestment for a given solar PV system. (If you’re interested in seeingwhether solar makes sense for you, get started by telling us about your home or business.)
Relevant — and important for job creation and the local economy —are efforts by states to attract solar panel manufacturers. On thisfront, the Texas legislature has joined the likes of Tennessee, Oregon, Arizona, Virginiaand others in offering tax breaks and other incentives for solar firmsthat choose to site facilities in the Lone Star state. Check out thisbrief, yet informative, installment from Green, Inc., a popular New York Times blog on energy, the environment and the financial bottom line.
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