The 2019 Oncor solar Incentive program is now underway, and as usual, folks are lining up to claim their stake on this ‘solar gold’.
Less than a month after the program opened, on January 8, about 75% of the incentive budget has been reserved for pending projects. Assuming no projects cancel, that only leaves $500,000 left for homeowners and businesses across Texas to take advantage of one of the states best solar incentive programs.
The incentive is calculated based on the estimated production and savings that your solar system is going to provide the utility company. On average, homeowners are seeing between $4000 and $8000 of cash incentives deducted from the cost of their solar system. In many instances, west facing roofs get the highest amount of incentives from the utility company. This is because on hot summer afternoons when there is a peak demand for energy usage, typically AC units turning on in the heat of summer between 3-5 p.m. , your west-facing solar panels are saving the utility the most money. It also protects the integrity of their electrical infrastructure, so ultimately, everyone on the grid is benefiting.
With 2019 being the last year of the 30% federal tax credits, and certain tariffs on solar equipment coming into effect later this year, it’s imperative that you secure as many incentives- aka solar gold- for your solar project before they phase out.
With February 2019 coming to an end so has the Oncor solar incentive program. All of the money initially put into the program has been used up by solar projects. The Oncor solar incentive program, which gave incentives for people to go solar, has now used up all of its allocated funds. But don’t worry. For those who would have liked to take advantage of the Oncor solar incentive program there is still next year. Some things to remember as we head into the future is that 2019 is the last year of the 30% tax credit for going solar. Next year (2020), the tax credit drops to 26%. As for the Oncor program it may be smart to do the math and see which option would be best for you in going solar or you can contact Good Faith Energy and have us do it for you! An additional consideration according to an Oncor employee is that “Our program will only accept projects up to 15kW. If the customer wants to install additional panels after the project is complete that is up to them. A second project for any meter cannot receive a second incentive. This is a very hard set rule due to the PUCT not wanting us to incentivize projects that could become a net generator at some point”. If you have any questions please do not hesitate to contact us at 469-209-5910 or visit us at Goodfaithenergy.com/gosolar
Good Faith Energy works closely with the customer to design a custom solar system to meet your energy production goals. We employ a team of highly experienced electricians and engineers. As a result, our arrays are highly customizable and tailored to the design requirements of each job. Above all, we focus in on the regulatory & permitting process to ensure that inner-connection is executed precisely to the switch.
DALLAS FORT-WORTH PLANO FRISCO DENTON ARLINGTON ALLEN RICHARDSON GARLAND CARROLLTON IRVING GRAPEVINE EULESS GRAPEVINE MCKINNEY HURST SOUTHLAKE LANCASTER PROSPER SEAGOVILLE WYLIE SACHSE DUNCANVILLE FLOWER MOUND
There are several financing options to consider. Good Faith Energy strategically partners with solar financial loan companies that provide comprehensive lending platforms with quick approval processes. Our team is also knowledgable in local incentives, rebates, and tax breaks available in your area.
After system commissioning, sit back, relax, and watch your savings grow. Our company utilizes top of the line equipment & software to ensure that your solar array is maximizing energy production. With 25-year equipment warranties, you can be assured that you will see long-term savings. In addition, annual maintenance programs and emergency service calls are available.
About Good Faith Energy
As a top-rated solar service provider, it’s our goal to design a custom, affordable system for your home or business. Our experienced project delivery team will work diligently to secure your incentive funds from local utilities and get you the best deal available. Incentives for residential solar photovoltaic systems can depend on size, azimuth, and the intended energy production for your installed system.
As your selected service provider, our team will help calculate incentives for your system, work on landing you the best financing terms, and install a top-quality solar system for your property- all under one roof! We can answer any of your questions, address your concerns or even come out for a free consultation. If you’re looking to learn more about how much money going solar could save you, contact us at 469-209-5910 for more information.