Electricity Bill BreakdownThe graph to the right is an example of what a Texas resident pays monthly for their electricity bill. When shopping for electricity, companies may give various rates depending on the sources available. When a consumer buys into a $0.07 kWh plan and is charged more than that, where does that cost come from? The extra cost comes from transportation of electricity from the source to the home. This step is negated with a home solar system. [1]
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Cost & Payback for a Home Solar SystemThe chart to the left is of different sized systems, their average initial cost to the solar provider, and payback period. The State of Texas currently does not have any rebates or incentives for purchasing home solar panels. The consumer's only main incentive is a 30% Federal Tax Credit off the installation of the project. Our proposed incentive is a 20% State Tax Credit off the initial cost of the project.
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On average 20%-30% of energy generated during the day is unused by the home and returned to the grid. For any surplus of electricity companies will purchases the energy at $0.07-$0.08 per kWh. We propose an additional $0.05 per kWh compensation from the State that is supplied from the solar panel system to the electrical grid. This does depend upon the size of the home solar system, the amount used during the day, and the season. Since homes in Texas consume more electricity in the summer months they will have a smaller surplus than they would in winter months. [2][3]
Texas Property Taxes
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National Annual Sunlight
Texas Solar Companies |