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Incentives and Financing for Solar

 

CPS Energy Rebates

The following CPS Energy rebates are available until funding depletes. Your solar installer will fill out and file the rebate application for you.

Schools

Schools can receive $2 per AC watt for the first 25 kW and $1.30 per AC watt for all remaining capacity output greater than 25 kW. This applies to commercial solar PV installations at private and public school campuses within the CPS Energy service territory. Schools must be accredited and non-profit.

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  • Maximum rebate for one project is $80,000.
  • PV array must be installed by a CPS Energy certified contractor with local (CPS Energy service territory) presence. Local presence is defined as a facility in the name of the solar contractor’s business with an associated CPS Energy electric account for that location.
  • This solar rebate offering is not available for client leased equipment installations or other financing options that remove the client’s upfront investment in order to own the PV array. The client’s investment amount required is at least the invoice cost of the PV system less the CPS Energy rebate. Solar PV array installations funded via federal or state grants obtained by the customer are exempt from this requirement.

Commercial

The commercial rebate is $1.20 per AC watt up to $80,000 or 50% cap whichever is less. This rebate is tiered over three tiers until the $30 Million allocated amount has been spent.

Beginning Feb.1 2016, rebates for non-local installers will be reduced to $.90 per watt, applicable to both residential and commercial projects. It will also reduce by 25% as the tiers go down.

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  • Maximum rebate is $80,000 or 50% of cost whichever is less.
  • PV array must be installed by a CPS Energy certified contractor with local (CPS Energy service territory) presence. Local presence defined as a facility in the name of the solar contractors business with an associated CPS Energy electric account for that location. There is a $0.90 per AC watt rebate for commercial systems installed by a contractor without a local presence.
  • This solar rebate offering is not available for client leased equipment installations or other financing options that remove the client’s upfront investment in order to own the PV array. The client’s investment amount required is at least the invoice cost of the PV system less the CPS Energy rebate. Solar PV array installations funded via federal or state grants obtained by the customer are exempt from this requirement.

Residential

The residential rebate for $1.20 per AC Watt up to $25,000 or a 50% cap whichever is less. This rebate offering is available for residential solar PV installations.

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  • CPS Energy has allocated $30 million in solar rebates to be divided into three tranches:

    • Tranche 1 – first $10 million at a Rebate Level of $1.20 per watt
    • Tranche 2 – next $10 million at a Rebate Level of $1.00 per watt
    • Tranche 3 – last $10 million at a Rebate Level of $0.80 per watt

    Projects will be rebated based on the applicable rebate tier at the time of application.

    For projects submitted after February 1, 2016, the rebate amount will apply equally to residential and commercial projects.

    The current rebate limits of $25,000 for residential projects and $80,000 for commercial remain in place. Rebates are also capped at 50% of project cost.

    The rebate for non-local installers will be reduced to 75% of the local installer rebate amount, starting at $0.90 per watt, applicable to both residential and commercial projects.

     

    CPS Energy guidelines and rebate levels are subject to change without notice, and CPS Energy reserves the right to refuse any application/request for incentive payment that does not meet CPS Energy requirements.

Solar Thermal

The one-time rebate will be based on $0.60 per kWh per year at SRCC rated “Annual Savings” output for electric backup. The maximum rebate is $2,000 per account.

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  • Your water heater is one of the biggest energy users in your home.

    Switch to a solar water heater, with your gas or electric heater as a backup, and you can reduce costs up to 50 percent, according to ENERGY STAR®. Plus, by taking advantage of a CPS Energy rebate and federal tax credits, you can significantly cut the initial cost of the investment. All while making a positive impact on the environment.

    Available to any CPS Energy residential or commercial customer, our solar water heater rebates are:

    • Based on SRCC’s calculated annual kWh Energy Savings performance table for San Antonio.
    • Calculated by multiplying the listed calculated savings for the system by a rate of $0.60.

    The details and guidelines:

    • The maximum allowable rebate amount is $2,000.
    • The solar water heater equipment must be new.
    • The heater must be OG-300 certified by the Solar Rating Certification Corporation (SRCC).
    • Only systems currently served by an electric hot water heater are eligible.
    • Applications must be completed and approved prior to installation.
    • Permits and inspections by local authorizes are required, when necessary.
    • Post-inspections are required prior to issuance of the rebate.

     

Federal Tax Credit

There is a federal tax credit of 30 percent of the total project cost with no upper limit currently available for both solar photovoltaic and solar water heating systems.

You can either subtract the CPS Energy rebate from the total cost first and take the 30 percent tax credit on the net amount OR you can apply the tax credit on the entire cost (before rebate) and pay taxes on the CPS rebate as income.

Your tax advisor can help you decide which is preferable for you. Any unused tax credit can be carried over to the following year. Further information can be found at www.dsireusa.org or from your tax professional.

Renewable Energy Systems Property Tax Exemption

The Texas property tax code allows an exemption of the amount of the appraised property value that arises from the installation or construction of a solar or wind-powered energy device that is primarily for the production and distribution of thermal, mechanical, or electrical energy for on-site use, or devices used to store that energy. More information here or download the form.

Solar Energy Device Franchise Tax Deduction

Texas allows a corporation or other entity subject to the state franchise tax to deduct the cost of a solar energy device from the franchise tax, Texas’s equivalent to a corporate tax. Entities are permitted to deduct 10% of the amortized cost of the system from their apportioned margin. For the purposes of this deduction, a solar energy device means “a system or series of mechanisms designed primarily to provide heating or cooling or to produce electrical or mechanical power by collecting and transferring solar-generated energy. The term includes a mechanical or chemical device that has the ability to store solar-generated energy for use in heating or cooling or in the production of power.” Under this definition, wind energy is also included as an eligible technology. More information here.

Home Improvement Loans

If you are interested in solar, but need a loan to pay the upfront costs, these are financial institutions that understand solar and can help you secure a loan.

Please contact the following institutions below for details.

Institution

Residential

Commercial

San Antonio
Credit Union

Eloisa Riojas – Home Loan Production
210-258-1350  |  emriojas@sacu.com

Ruthi Wainshal
210-258-1561  |  rwainshal@sacu.com

BBVA Compass

Patranella Reaves
210-592-5552
patranella.reaves@bbvacompass.com

Patranella Reaves
210-592-5552
patranella.reaves@bbvacompass.com

Frost Bank

Billy Moore
210-220-6145
billy.moore@frostbank.com

Billy Moore
210-220-6145
billy.moore@frostbank.com

Security Service
Federal Credit Union

Home Improvement Loans
210-357-9000

Commercial Loans
210-357-9000

Randolph Brooks
Federal Credit Union

Diana Burns
210-637-4149
dburns@rbfcu.org

Follow options for Consumer Lending
210-945-3300