Texas electricity prices average $0.11/kWh, below the national average of $0.14/kWh. This may help explain why ___ has the second-lowest per capita residential energy consumption in the country.
Texas leads the nation in crude oil and natural gas production. It also leads the nation in wind-powered generation. Texas both produces and consumes more electricity than another state in the US.
The average cost of a 10kW (equivalent to saving almost 200 trees a year) solar power system starts around $31,000 in Texas. Before any incentives, in the first year you’d save about $1,800, compared to if you had been paying the normal rates for the energy you used. These savings can continue for well over 25 years, improving with inflation.
This depends on may factors such as your system size, power output, and financing. Here are the main ways you can finance your home solar power system, and the kinds of returns you may expect to see:
From our example above, the homeowner purchased a 10kW system to offset their energy bill. Overhead cost was $31,000, with a significant proportion returned in the first year through incentives, rebates, and savings, then paying itself in full over 12 years.
Most solar power systems have a warranty lifetime of 25 years. In that time, between incentives and paying lower rates you could make a profit of around $40,000 - more than the up-front cost of the system!
Even with occasional maintenance or part replacement, that is a massive savings. Solar panel power output falls on average 0.8% per year, so with a little TLC and load management you can extend the life of your system well beyond the warranty’s expiration date, continuing to save indefinitely.
Whether or not you can afford the up-front cost of the install, you may want to consider a Home Equity Line of Credit (HELOC). With equity in your home, or good credit, you may qualify for a 15-year solar HELOC with fixed rate of 4% or lower.
Starting with that same 10kW system costing $31,000 but with zero up-front cost, accounting for incentives, credits, rebates, and annual energy savings starting around $1,700, you could see a revenue surplus of about $7,000 at the end of the first year. Save that money though. Your loan payments will likely exceed your power savings by about $100/month for the 15-year term
Once the loan is paid off, you can expect to save about $1,700 a year. Over 25 years, with inflation and rising electricity costs, you could expect to make about $28,000.
Data from DSIRE. For more info visit: https://www.dsireusa.org/
|Name||Implementing Sector||Program Type||Administrator||DSIRE ID|
|Certification of Solar Collectors||State||Equipment Certification||334|
|Mandatory Renewable Energy Educational Materials||State||Line Extension Analysis||337|
|Hansford County Tax Abatement||Local||Industry Recruitment/Support||702|
|Ethanol and Biodiesel Production Incentive||State||Performance-Based Incentive||Texas Economic Development and Tourism Office||981|
|Frisco - Municipal Green Building Program||Local||Energy Standards for Public Buildings||2730|
|Advanced Clean Energy Project Grants||State||Grant Program||2779|
|Plano - Renewable Energy Purchasing Policy||Local||Green Power Purchasing||3006|
|City of Austin - Zoning Code||Local||Solar/Wind Access Policy||4864|
|Solar Rights||State||Solar/Wind Access Policy||4880|
|TXU - Commercial Energy Efficiency Program||Utility||Rebate Program||5352|
|Bryan Texas Utilities - SmartHOME Program||Utility||Rebate Program||Bryan Texas Utilities||5411|
|San Antonio City Public Service (CPS Energy) - Net Metering||Local||Net Metering||5547|
|City of Denton - Green Power Purchasing||Local||Green Power Purchasing||5570|
|City of Fort Worth - Residential and Commercial Green Building Requirements||Local||Building Energy Code||5590|
|City of Forth Worth - Green Building Policy for Municipal Buildings||Local||Energy Standards for Public Buildings||5592|
|City of Houston - Residential and Commercial Green Building Requirements||Local||Building Energy Code||5593|
|City of El Paso - Green Building Policy for Municipal Buildings||Local||Energy Standards for Public Buildings||5594|
|City of El Paso - Residential and Commercial Green Building Requirements||Local||Building Energy Code||5595|
|CenterPoint Energy Healthcare Energy Efficiency Program||Utility||Rebate Program||5741|
|CenterPoint Energy Advanced Residential Lighting Program||Utility||Rebate Program||5744|
|CenterPoint Energy A/C Distributor Program||Utility||Rebate Program||5745|
|CenterPoint Energy's Energy Wise Program||Utility||Rebate Program||5746|
|Garland Power & Light - Solar Rebate Program||Utility||Rebate Program||Garland Power & Light||5858|
|Entergy Texas - Commercial Solutions Program||Utility||Energy Analysis||Entergy Texas||15786|
|Garland Power & Light - Energy Audit||Utility||Energy Analysis||Garland Power & Light||15792|
|New Braunfels Utilities - Energy Audit||Utility||Energy Analysis||New Braunfels Utilities||15798|
|Texas State Energy Conservation Office - Texas Industries of the Future Program||Other||Training and Information||17415|
|Entergy Texas - Datalink||Utility||Energy Analysis||Entergy Texas||17418|
|Lower Colorado River Authority - Energy Services||Other||Energy Analysis||Lower Colorado River Authority||17434|
|Texas Renewable Energy Industries Association - General Info & Links||Other||Training and Information||Texas Renewable Energy Industries Association||17437|
|Denton Municipal Electric - Commercial Energy Services||Utility||Energy Analysis||Denton Municipal Electric||17705|
|TXU Energy - iThermostat for Business||Utility||Other||TXU Energy||18980|
|TXU Energy - PowerReport||Utility||Energy Analysis||TXU Energy||18981|
|TXU Energy PowerReport||Utility||Energy Analysis||TXU Energy||19311|
|Mid South Synergy - Business Energy Advisor||Other||Energy Analysis||Touchstone Energy Cooperatives||19669|
|El Paso Electric - Energy Library||Utility||Training and Information||El Paso Electric||21567|
|El Paso Electric - Tools, Tips, and Calculators||Utility||Energy Analysis||El Paso Electric||21624|
|Rio Grande Electric Coop - Interconnection||Other||Other||Rio Grande Electric Coop||21636|
|Entergy Louisiana - DataLink||Other||Energy Analysis||Entergy Louisiana||21750|
|Xcel Energy - Energy Design Assistance||Utility||Energy Analysis||Xcel Energy||21793|
|Xcel Energy - Online Energy Assessment||Utility||Energy Analysis||Xcel Energy||21794|
|Xcel Energy - Energy Audits and Studies||Utility||Energy Analysis||Xcel Energy||21800|
|Xcel Energy - Small Business Lighting||Utility||Energy Analysis||21802|
|Xcel Energy - Business Energy Advisor||Utility||Energy Analysis||Xcel Energy||21803|
|Xcel Energy - Business Solutions||Utility||Energy Analysis||21806|
|Xcel Energy - Energy At Risk Financial Analysis Tool||Utility||Energy Analysis||21808|
|Xcel Energy - Energy Management Systems||Utility||Energy Analysis||21810|
|Atmos Energy - Business Savings||Other||Training and Information||Atmos Energy||21817|
|El Paso Electric Company - Tools, Tips, and Calculators||State||Energy Analysis||El Paso Electric Company||21955|
|El Paso Electric Company - Energy Library||State||Training and Information||El Paso Electric Company||21956|
|City of San Marcos - Commercial Lighting Retrofit Program||Utility||Rebate Program||San Marcos Electric Utility||22058|