7 Benefits Of Solar Buyback Plans

Over time, Texas has implemented far-reaching incentives for residential solar, with over $20 billion invested in solar energy so far. Additionally, the solar industry in Texas employs over 10,000 people and powers over 1.9 million homes.

The state’s overwhelming success in this field is closely tied to generous net-metering policies, otherwise known as solar buyback programs. These offer several benefits to Texas homeowners and power companies.

The benefits of solar buyback plans relate closely to the advantages of installing solar power systems. Keep reading to explore them all.

1. Environmental Benefits of Solar Buyback Plans

The most important benefit of all renewable energy sources is that they reduce our reliance on fossil fuels.

Mankind has been unearthing centuries of carbon power in the form of oil and coal and burning it to create energy for millennia. This has caused serious damage to the Earth’s atmosphere.

Experts predict that we could face dire consequences unless we reduce our carbon emissions to pre-industrial levels within the next few decades. If we don’t, we can expect more frequent extreme weather events, ongoing temperature increases, and the gradual extinction of life on Earth as a result.

Coal and oil are finite resources. Yet, it’s unlikely we’ll use them all before global warming puts an end to it all.

On the other hand, the sun should last another 5 billion years before it goes supernova. We will never run out of sunshine to keep our homes powered via solar panels.

Manufacturing solar panels has a low environmental impact when compared to mining and burning fossil fuels to generate electricity. They also release no carbon emissions, create no pollution, and have little impact on water resources.

Mining pollutes water resources and disrupts natural habitats, while coal and oil plants billow tons of carbon and harmful emissions into the atmosphere every day.

Solar farms have little impact on the environment, as animals can graze among them, and shade-loving plants thrive under their cover. This reduces the environmental impact of solar-powered electricity companies to almost nothing.

Whichever way you look at it, it’s every Texan’s responsibility to use solar energy wherever they can.

2. Convenient Energy Independence

Texas experiences more power outages than any other state, leading to inconvenience and financial losses for its residents. When you have solar panels, you’re assured of abundant electricity as long as the sun shines.

Your home solar panels are at their best during peak sunlight hours, so it’s important to save this extra electricity in batteries for later use during peak demand times.

When night falls, you can power your home via your battery backup or switch over to grid electricity, provided there’s power available. Chariot Energy operates vast solar farms with battery backups to shield you from any local or statewide outages.

Considering the cost of batteries for your home installation, it makes sense to sign up with a solar electricity company to ensure you’ve always got electricity.

These companies offer solar buyback programs that allow you to feed excess electricity into the grid in exchange for credits on the power you use at times when your solar panels aren’t operating at their best.

3. You Save Money With a Solar Buyback Program

When you opt to stay connected to the grid, you don’t pay for the electricity produced by your solar panels. You will receive a bill from the power company for any electricity you take from them.

With a solar buyback plan, you feed your excess electricity into the grid and earn credits accordingly. So, when you receive your bill, you’ll see a credit for the electricity you’ve given back.

These power companies charge you the standard retail rate for electricity. In Texas, power companies may set up their own policies to reimburse their customers for their extra solar electricity.

You only pay for the difference between the power you used and the power you fed into the grid.

Some power providers will give you a credit for the retail amount for the difference, while others only pay wholesale prices.

Chariot Energy offers attractive hybrid programs. These reimburse you depending on how much energy you feed into the grid and how much you use.

Either way, you save money without having to pay for expensive battery backup.

4. Earn Extra Revenue

Apart from reducing your monthly expenses, solar buyback programs present an opportunity to earn a little extra cash from your solar panels.

If your solar panels regularly produce more electricity than you use from the power company, you could receive compensation for all the electricity you feed into the grid.

This income can help pay for your solar panel installation, enjoy increased financial stability, or save up for future goals and unexpected expenses.

5. State and Government Incentives for Installing Solar

Installing solar panels is a costly endeavor, but you can take advantage of many attractive incentives to offset the cost. In Texas, you’re eligible for the following savings when you install solar panels:

• The federal Solar Tax Credit
• Texas property tax exemption
• Rebate programs from local entities

You can go here to work out how much you can expect to pay for a solar installation.

6. Increase the Value of Your Home

Solar panels are an asset to any home and will increase the value of your home by how much you pay for them. They’re also an attractive prospect for buyers and can help you sell your home quicker.

Prospective buyers are aware of how much they can save when they buy a home with solar panels combined with a solar buyback plan.

7. Solar Buyback Programs Suit Everyone

Texas does not regulate feed-in tariffs for solar electricity. This encourages competition among power companies eager to woo customers with attractive rates on their solar buyback plans.

It also leads to a diversity of offerings to suit every Texas homeowner. Regardless of how much excess electricity your solar panels generate, you’re bound to find a solar buyback rate that suits you.

Sign up With Chariot Energy Today

If you already have solar panels installed and a bi-directional electricity meter on your home or have an agreement to install them soon, you can sign up for one of Chariot Energy’s excellent solar buyback programs. We serve customers in all of Texas’ deregulated areas.

If you’d like to enjoy these benefits of solar buyback programs thanks to a committed and forward-thinking power company, get in touch for assistance, or pick your plan online and get started right away.