Solar in Texas 2020

They say that everything is bigger in Texas, but in a state that is known for oil, most people have a hard time believing that the saying goes for solar power. But when it comes to solar panel installations in Texas, it is a growing industry, so much so that it is now ranking 4th in terms of solar power in the United States. Yes, even solar power is (getting) bigger in Texas.

The Cost of Solar in Texas

The cost of solar panel installations in Texas range from $11,772 to $15,928. If you are analyzing the cost of solar on a cost per watt ($/W) basis, the solar panel installation is going to range anywhere between $2.35 to $3.19.

Regardless of the cost of solar panel installation, there will be a lot of different financing options for your solar power system. You will have the option to purchase the solar power system outright with cash, and this typically is going to offer the most returns. But if a cash purchase isn’t going to be right for you, you will have the option to get a solar loan or a solar lease.

2020 Cost of Solar in Texas for a 5 kW Solar Power System

The Average Cost of Solar in Texas Based on the Solar Power Systems Size in 2020

Solar Incentives and Rebates in Texas

The Federal Investment Tax Credit (ITC) is one of the best solar incentives across the United States. When it comes to getting a solar panel installation the ITC is going to allow homeowners to deduct 26% of the total cost of solar panels from your federal taxes. The 26 percent tax credit is going to last until the end of 2020, but in 2021, the tax credit is going to fall to 22%, and then in 2022, for residential solar panel installations, the ITC will end and for commercial solar panel installations the ITC will stay at 10%.

Other than the federal ITC, Texas has additional solar incentives that help lower the cost of solar panels. The solar incentives are going to depend on the area or utility company in that area. There are rebates programs throughout the states, among other renewable energy incentives.

Notable Solar Panel Installations in Texas

One of the more notable solar panel installations in Texas is going to be the Alamo Solar Farm 5. The solar power system generates 95 MW of solar power and is located in Uvalde. This solar panel installation generates enough solar power to provide power for over 10,658 homes.

There is also the RE Roserock LLC solar panel installation. This solar power system generates 160 MW of solar power, which is enough solar power to provide power for more than 17,951 of Texas homes.