Texas Senate Approves Solar Incentive Fund

The Texas Senate has passed S.B.545, a measure aimed at moving Texas to the forefront of solar energy generation in the U.S.

Overthe next five years, the bill would create a $500 million incentivefund to offset the capital costs of distributed solar power – mostlyfor residential rooftop panels, as well as for utility-grade solarpower. Funds would be raised through monthly surcharges on electricbills – $0.20 for residential users, $2.00 for commercial users and$20.00 for industrial users.

The money will go toward rebatesfor homeowners who wish to install panels on their houses, and thePublic Utility Commission will use the fund to incentivize theconstruction of large-scale solar complexes. Other provisions in thebill would prohibit homeowners associations from banning solarinstallations in most cases, and would require that homebuilders offersolar as an option to their customers.

SOURCE: Texas Senate