Texas, compared to many states in the US, posted one of the highest growth in sun-based electricity sources. According to Bloomberg.com, Texas is considered Solar's Next Frontier as power demands in Texas boom. More than ever, it is the right time now for Texas homeowners to consider going solar before April 2023 for the following compelling reasons:
1. Increasing demand can lead to an imbalance of supply, thus a surge in monthly electric bills is unavoidable.
Let's face it, the no.1 reason for an electricity bill hike is the lack of supply vs. increasing demand. You can simply check your monthly electric bills from 3 years ago compared to the present and you can already realize that there is a significant yearly increase in your per kilowatt rates and it will consistently increase annually because of increasing demand in Texas as the economy booms. So it is not a surprise that Texas also posted the highest solar installations among homeowners to counteract these increasing bills. Tracy Wallace, a Texas homeowner interviewed by CBS and shared how solar massively save or eliminate their electric bills.
2. Solar Investment Tax Credit (ITC) will expire in 2024 unless Congress will renew it.
Federal Solar Tax Credit is a great way to save on your total solar cost through a dollar-by-dollar credit you can use to pay your annual federal taxes. It means 26% of your solar cost will be credited to you which you can use to pay your taxes. Unless Congress renews it, you may lose the chance to convert that part of solar cost into a tax credit, so it is better to Go Solar Now in Texas. To explain more about Tax Credit, you can watch this short video where Solar Tax Credit is explained thoroughly.
3. The highest KWH consumption usually falls in summer (July and August).
If you managed to Apply Now and get your financing approved before March 2023, you will likely have your solar installed by April or May depending on the approval of documents. This is a good head start before July when you consumed your highest KWH per month. If your offset is high enough to cover your highest KWH consumption, then you have enough net metering credits to keep your electric bills to a minimum during July and August. With Net Metering, your unused power produced by your solar system will be sent to the power grid for credit during months when you consumed higher than what your solar panel can produce. So if you start later than April, you may face high KWH consumption during July or August which may give a false impression that your solar does not offset your electricity consumption.
4. Increase your home value and make it sell faster.
Top real estate company in the US, Zillow recently published a study that a home with solar installed in their home sells 4.1% faster compared to a home without solar. Also, the National Renewable Energy Laboratory says that for every dollar you spend on solar increase the value of your home by US$20. That's a huge level up to your home value contrary to others' belief that a home with solar is hard to dispose of. Data-driven study shows that a complete solar set-up in your home brings more selling value.
For these 4 reasons alone, 67% of Texas homeowners are interested in Going Solar. However, choosing the right partner is equally critical. Because of the increasing demand for solar, many Texans started a solar servicing and installation company after doing DIY for their home. Unfortunately, most of their clients turned out to spend more with less quality and durability because these newly set-up companies usually used low-grade solar panels and inverters, and their one-man operation was likely to commit mistakes in installations and permit processing that cost more money to customers. For more professional service and experienced staff, you may contact Renewables Hub at +19403144178 located in Midland, Texas. As one of the most trusted solar professionals in Texas, Oklahoma, and Arkansas, you are guaranteed top-notch service and premium quality solar panels, inverters, batteries, and other solar upgrades custom to your home requirements.