How much does it cost to go solar in Austin TX?
Cost Of Solar Panels In Austin
The cost of a solar panel system in Austin can be thought of similar to a kitchen remodel or other small home improvement.
However, unlike a kitchen or bathroom remodel, a solar PV system will pay for itself through monthly energy savings.
Additionally, there is a 26% Federal Investment Tax Credit (ITC) and other local solar incentives that help the total price decrease by thousands of dollars.
Solar Cost Austin TX
Most people in Austin TX don’t pay cash for their solar. Instead, most Austinites choose ownership financing, and make a low monthly payment for solar that is less than their monthly electricity bill.
This allows most Austin homeowners to save money from day 1, save money every month, and accumulate a substantial amount of savings over time (a typical warranty is 25 years for solar panels, 25 years for microinverters, and 25 years for power optimizers).
Founded in 2014 in Austin, Wells Solar & Electrical Services is a family-owned establishment committed to installing high-quality solar power solutions that everyone can afford. Thanks to special solar programs available in Texas, you may be able to trade the money you’re spending on power bills for a solar finance payment and realize net savings each month! Contact Wells Solar of Austin to learn more.
Solar Payback Austin TX
Payback in Austin
Over 25 Years
The payback of your solar energy system is determined by where you live and how much electricity you use.
Every home is different – you can find actual prices for your home from solar installers in your area.
In this example we will breakdown the finances of a 5 kW solar system installed in Austin, Texas.
We also assume $0.12/kWh electricity rate and solar buyback.
System Information Value
System Size (for 100% usage offset) 5 kW
Annual Power Generation 7,169 kWh
Average Monthly Solar Power Output 597 kWh
Payback time (assuming cash) 7-12 years
Finance payback First month!
Austin Energy Rebate & Federal Tax Incentive $7,180
Total electricity savings over 25 year warranty $22,794!
Austin TX Solar Incentives
The local power company in the city of Austin, Texas is Austin Energy. In 2020, homeowners in the Austin Energy service territory can receive up to $2,500 dollars worth of rebates toward the cost of adding solar panels on a residence.
And, under Austin Energy’s Solar Photovoltaic (PV) Rebate Program, residential customers are billed for their whole house energy consumption at standard residential rates and then credited at the Value of Solar Rate, currently $0.097 per kilowatt-hour. Excess credits may be rolled over to the next month, indefinitely, as long as the account remains open.
Click to learn more about solar incentives available in Austin TX.
Additionally, through December 31, 2020 a 26% tax credit is available for persons with taxable income from the U.S. federal government. Be sure to consult a licensed CPA or tax professional about your eligibility for the 26% solar tax credit.
The Price Of Solar In Austin: Other common questions
Can you get solar panels for free?
Yes and no, its complicated (not really though). There’s a popular misconception that people can get solar that’s “100% funded by the government / 100% free solar”….
No, such a thing does not exist (and likely never will).
However, as mentioned above, you can trade your power bills for a monthly solar payment and save money every month. While this isn’t free per se, you are getting a really great deal and creating positive cash flow (some might also call it “net savings”) each month.
Can a house run on solar power alone?
Yes, definitely. Feel free to visit the Wells Solar Portfolio of PV Systems Installed Across Texas to read examples of installations we’ve completed near you.
Solar becomes your primary power source, but you’re still connected to the local power grid. Most homes will generate solar energy during the day, but use grid energy at night and on cloudy days.
See Solar Panel Prices Near You!
About Wells Solar
Wells Solar is celebrating 6 years as a leading solar company, including more than 4,000 installations across Central Texas!
We were voted one of Solar Power World Magazine’s Top Solar Installers in 2019 and we’re very excited to show you why Wells Does Solar Better™.