AMERICANS can qualify for $3,000 in rebates from a program designed to make green energy more affordable.
Texans with one energy provider can get the payment for installing solar panels on their home or business.
American Electric Power, or AEP Texas, offers customers rebates for the systems.
The exact rebate amount depends on the installation size but can total in the thousands.
Unlike fossil fuel power, solar power can be produced at home and does not produce the greenhouse gasses that contribute to climate change.
Producing your own energy at home reduces the amount you need to purchase from the power company.
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Thanks to Texas’ aging and fragile energy grid, AEP has an incentive to push customers to solar power.
At-home energy production can reduce strain on the state’s system during emergencies, allowing power to flow where it’s most needed.
HOW TO QUALIFY
AEP customers looking to install solar can get a rebate if they use a qualified contractor to install the system.
Customers must work with these contractors to apply together for the incentive funds.
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AEP Texas has a list of installers enrolled in the program online.
AEP does not serve the whole state, but its service area includes major cities like San Antonio and Corpus Christi.
SYSTEM SIZE
The energy your system produces determines how much of an incentive you can get.
For residential installations in 2024, there are four brackets of energy production.
- A system that produces 0.001-2.999 kWdc will pay out $0.50/Wdc.
- A 3-4.999 kWdc system pays $1,500.
- A 5-7.499 kWdc system pays $2,250.
- A 7.5-30 kWdc system pays $3,000.
Smaller incentives are available for commercial projects.
Forbes has compiled a list of other Texas solar incentives.
Is solar power taking off?
Once an environmentalist dream, solar power is now a fast-growing energy source across the US.
Residential solar energy — the installation of solar panels on one’s property — has become increasingly popular and affordable.
The cost of panels is about half what it was a decade ago, according to CNet.
It can also reduce monthly energy bills for some, while reducing dependence on fossil fuels, which contribute to climate change.
Over half of America’s new energy-generating capacity in 2023 came from solar power, according to SEIA, an industry group.
Government incentives like the Inflation Reduction Act and other tax benefits are expected to increase the accessibility of solar power further.
Despite growth, solar still produces only a small percentage of the grid’s power.
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Many governments have set aside tax incentives to bring people to solar power.
A nationwide tax investment credit could pay out $6,000 to individuals looking to install solar.
Other states have specific incentives.
In Connecticut, a program could save people over $1,000 on solar installations by waiving sales tax.
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