Texas is the third sunniest state in the U.S.1 With all that sunshine going on outside, it’s easy to see why home solar installations are a smart investment. Plus, switching to solar in the Lone Star State is now simpler and more affordable than ever thanks to some attractive solar incentives, rebates, and tax credits for homes like yours.2
|Solar Savings Types||Value of Savings|
|MP2 Solar Energy Buyback Program||Must live in applicable service area|
|Federal Solar Tax Credit||
26% of the final cost of the solar system4
|Property Tax Exemption for Residential Solar Systems||Solar System Property Tax Exemption2|
|Solar Rebate Program||Must live in applicable service area, based on utility6|
**Customer’s ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a solar system from Sunrun.
At Sunrun, we believe your home energy should be yours to control, so we’ve joined forces with MP2 Energy to get you more value for the solar power you produce in Texas. MP2 Energy is owned by Shell Energy North America (SENA), one of the largest and most trusted energy suppliers in the country.
When you go solar with Sunrun, you’ll have the chance to sign up and participate in MP2 Energy’s Solar Buyback Program. This way, if your home solar system creates a larger amount of energy than you need, you’ll earn bill credits with MP2 Energy.
Your credits are used to cover your electricity use when your system isn’t producing enough power, like on cloudy days or at night. Any credits you don’t use during the month roll over to the next month, for up to 12 months. All unused credits are cleared annually in December.
The best part? MP2 Energy’s Solar Buyback Program is renewed 4 times during your 25-year Sunrun contract, so you’ll be covered for 60 months. This is a unique feature other solar companies in Texas don’t offer.
If you decide to purchase your home solar system in Texas, the federal solar tax credit gives you a dollar-for-dollar reduction against your federal income tax equal to 30% of the final cost of solar energy systems you install on your home.* For example, if your system costs $30,000, you pay for it upfront, and then receive a Texas solar tax credit of $9,000 when you file your income taxes the following year.
The 30% tax credit applies as long as the home solar system is installed by December 31, 2019. Starting in 2020, the tax credit will step down to 26%, and then again to 22% in 2021. After 2021, the tax credit for residential solar ends.
As a Texas homeowner, you know that property tax exemptions can be a pretty big deal. So you’ll be happy to hear The Lone Star State offers a solid property tax exemption for home solar systems owners. Meaning, the resulting boost in your home value from installing a system — which could increase by 4% or more4 — will be exempt 100% from your property tax increase.5
While Texas solar rebates are currently not available statewide, several local electric companies do offer solar rebates that can pay for a significant part of your system or perhaps even after your home solar installation.6 Visit your electric company’s website or give them a call to see if they offer a solar rebate program to help you go solar for less.
Aside from all these excellent solar incentives, starting a solar journey in Texas will reduce your carbon emissions, and can also potentially save you thousands of dollars on your electric bills during the next few decades.7**
To top it all, with some of our solar plans, you could switch to solar in The Lone Star State for as little as $0 down. See if Sunrun Solar is right for your Texas home by requesting a free, personalized quote, today.