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Everything you need to know about Texas Tax Rebates for Solar Energy!

, Everything you need to know about Texas Tax Rebates for Solar Energy!

2019 was a great year for the Solar Energy Industry in Texas, the lone star state ranked fourth nationwide for the most solar installations, with nearly 3.500 mw installed, that’s enough to power over 400,000 homes! (or one heck of a ranch!)  

With January speeding by, now is the perfect time to start thinking about saddling up and making the switch to solar in the new decade, an investment that grant’s you the freedom to get electricity on your own terms, without hurting the planet in the process.  

With you in mind, and with tax season in full swing we’ll break down the nitty gritty details of what to expect of Tax Rebates once you make the switch in 2020, the Texas Direct Solar way; straight to the point and as clear as our great skies.  

When you decide to go solar, you might be eligible for the Solar Investment Tax Credit (ITC), a government subsidy of 26% off your Solar Panels and their Installation for residential and commercial properties built during 2020. But hold your horses, there are a few things Uncle Sam considers before granting you eligibility. First, You must own the property where you’re going to install your panels, you can’t be leasing or renting it, and second, you have to be buying the panels, but you don’t have to worry about that because here at Texas Direct Solar we only sell them, and quality at that!  

So say the total cost of your switch to solar was 10,000$, you would get 2,600$ as a Tax Credit, and the best part is, if you only owe 2000$ in Federal Taxes, then you’d get rid of those taxes, and those remaining 600$ in credit would rollover into 2021. All you have to do is fill out Tax Form 5695 and you are well on your way!  

But be advised, the clock is ticking! Once 2021 swings round, the Tax Credit rate will drop to 22%, and beyond that it’ll become obsolete for residential properties, and only deduct a mere 10% for commercial.  

So hop on that Tax Credit train and ride it with Texas Direct Solar! We offer expertise and work with some of the most experienced installers in the State, our unique financing options include no upfront costs!  

We’d love to hear from you, so be sure to get in touch so we can discuss the best options for you!