Austin Energy makes residential solar installations more accessible
Austin Energy recently dropped the cost of operating residential solar installations from $2.50 per watt to $2.00, citing evolving market conditions as the reason for the rebate change, officials with the company announced on Monday, June 11.
The Austin Business Journal reports the change will take effect immediately, and will result in $12,402 in rebates for an average 5-kilowatt solar installation – roughly half of the estimated $25,000 it takes to install the residential solar device. Also, residents who install solar energy on their homes are also eligible for a 30 percent federal tax credit on all costs paid out-of-pocket by the homeowner.
Austin Energy has been promoting its residential solar energy program since 2004, and uses the solar photovoltaic rebates and other incentives to encourage its customers to make the switch to cleaner energy sources.
In 2011, Austin Energy supported more than 1,200 customer-owned solar energy systems, 100 commercial installations, 32 school projects and six library installations. Altogether, the privately owned solar projects have more than 4.7 megawatts of electricity generation capacity, and spurred the creation of 30 new solar installation companies in Austin alone.