Now is the perfect time to get solar thanks to CenterPoint Energy’s solar incentive program. Designed to make solar more accessible, this program helps homeowners in CenterPoint’s service area lower the upfront cost of installing solar panels.
They offer financial incentives based on system size and energy production. With a limited budget and strict eligibility requirements, it’s essential to act quickly and partner with a qualified installer, such as Good Faith Energy, to secure your savings.
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What is CenterPoint Energy?
Centerpoint Energy is an energy delivery company headquartered in Houston, Texas. They deliver energy to more than 7 million customers across multiple states including Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. About 2.9 million customers are served in the Houston area. If you live in an area served by CenterPoint Energy, you are able to take advantage of their solar incentive to reduce the total cost of your solar system installation.
Are These Incentives Passed to You as a Homeowner?
While the homeowner doesn’t receive the incentive directly, the installer usually reduces the system’s cost by applying the incentive amount. Make sure to go with a trusted, Certified Texas Solar Panel Installer like Good Faith Energy to make sure you get the full benefits of the incentive along with any other incentives you qualify for.
Eligibility for the CenterPoint Energy Incentive
In order to qualify for the solar incentive, you must meet the following conditions:
- Your home must be in CenterPoint Energy’s service area to qualify. Check your electric bill to confirm.
- Work must be completed by a participating project sponsor (approved installer or contractor). Be sure to confirm your installer is part of the RSOP program.
- Purchasing and installing a new Solar PV System.
- Your contractors or service provider must provide a PVWatts® report to demonstrate the performance of each solar installation segment.
- Project must undergo inspection to verify installation quality and expected performance.
How is the Amount of Incentive Coverage Determined?
The amount of financial coverage you can get for your solar system depends on the size of the solar system you’re looking to install. Larger systems or those with better production (high sun exposure) will receive a higher incentive. Here are the rates for the incentive:
- Demand Reduction Incentive: $350 per kW
- Energy Savings Incentive: $0.08 per kWh
Let’s use a 5 kW solar PV system as an example. Using standard values:
- Peak demand reduction: 1.5 kW
- Annual energy production: ~7,500 kWh
Incentive Calculation:
- Demand Reduction Incentive:
1.5 kW × $350 = $525 - Energy Savings Incentive:
7,500 kWh × $0.08 = $600
Total Incentive:
$525 + $600 = $1,125 incentive towards your solar system installation.
Incentive Limits and Budget Allocation
CenterPoint’s 2024 program has limited funding. Their total budget is $300,000 for incentives. If the program reaches capacity, applications may be denied even if you qualify.
Make sure to apply early so you don’t miss out! To secure your incentive, it’s important to apply or install your system early in the program year (which runs from January 2 to November 15, 2024).
Also important to note: completed installations must be submitted within 30 days of installation to be eligible for incentives.
Maximize Savings with Good Faith Energy
CenterPoint Energy’s solar incentive offers a fantastic opportunity to reduce the overall cost of your solar system, helping homeowners save both upfront and long-term. However, navigating the program’s requirements and deadlines is crucial to securing your share of the $300,000 incentive pool. That’s where working with a trusted installer makes all the difference. Good Faith Energy, a Certified Texas Solar Panel Installer, ensures that you receive the full benefit of CenterPoint’s solar incentives while also guiding you through other available rebates, tax credits, and financing options. With a reliable partner like Good Faith Energy, you’ll get more than just a solar installation—you’ll receive expert support every step of the way, helping you maximize your savings and enjoy clean energy for years to come.