What Is a Solar Buyback Program in Texas?

In one hour, the earth’s atmosphere gets enough sunlight to power the electricity needs of every human on Earth for a year. Solar energy is abundant, but the abundance also means sometimes people have more energy than they use. So, what can you do to ensure your solar energy doesn’t go to waste?

Solar energy is more accessible, popular, and affordable in the US than ever. It is predicted that by 2030 one in seven US homes will have solar power. But when you generate more energy than you consume, you need a solar buyback program.

Read on to learn everything you need to know about solar buyback plans in Texas.

What Is a Solar Buyback Program?

Texas ranked 2nd nationwide for solar power in 2022. It is a great state to invest in solar power due to its weather, off-grid living opportunities, and solar infrastructure. But when the temperatures soar and the sun is shining, what happens to that excess solar power?

A solar buyback program allows you to earn credits for the excess power your solar panels generate. You can then apply these credits to renewable energy plans, such as putting the credits towards future energy bills.

How Do Solar Buyback Plans Work?

Solar buyback plans work by tracking your energy usage. Once your solar panels produce electricity, it goes to your electrical meter, and you use what you need. If you have excess electricity left, it can go back to the grid and earn you solar energy buyback credits.

This process is called ‘net metering,’ so you are only charged for your net energy use. Your meter is able to monitor how much electricity you use vs. how much your solar energy system created, which is how your consumption is worked out.

You will only pay for how much electricity you consume from the grid when your use exceeds your solar panels’ output, which usually happens at night in states such as Texas.

When you produce excess electricity and it returns to the grid, it is not wasted; nearby homes and businesses will also benefit from solar energy, which makes it a win-win for all.

If your solar panels’ electricity generation exceeds your energy use, then you get compensated as part of your solar buyback program. Usually, compensation is through bill credits for your energy bills. You will see these credits appear on your bill for the month.

How Do You Qualify for Solar Buyback Plans?

There are several factors that determine whether you are eligible for solar buyback programs or not. Usually, you will be eligible for net metering if you meet the following criteria:

• You have a smart meter to track your electricity consumption
• You have solar panels on your property
• You have an interconnection agreement with your utility company
• You can pick your own electricity company (deregulated area)
• You live in the state, such as in Texas

Rules can vary depending on your state, so check local regulations and the specific solar buyback plan. It is essential to have a smart meter to accurately record your electricity usage and ensure you get the compensation you deserve.

Living in a deregulated area of Texas is when you can pick your own electricity company. You must also have an interconnection agreement with your utility company, which for Texas includes the following:

• Oncor Electric Delivery
• Texas-New Mexico Power
• CenterPoint Energy
• AEP Texas

If you meet this criterion, you can then get the company, such as Chariot Energy, to purchase your excess solar energy. With Chariot Energy, this is at a dollar-for-dollar, watt-for-watt energy rate. You will get credit for 100% of the excess electricity your solar panels generate.

Benefits of a Solar Buyback Program

Solar energy provides a wealth of benefits, but it comes with an upfront cost. This investment gets paid off over the years, but utilizing all the benefits of solar panels will make this process quicker. One of the main advantages of solar energy is the ability to earn money for excess electricity.

Here are some more benefits of a solar buyback program:

• Help others access solar energy
• Save money and reduce energy bills
• No upfront fees or maintenance costs
• Let a professional company work out your credits

A solar buyback program ensures others can reap the benefits of your solar power without you being left behind. Maximize the benefits of solar power and the many cost savings it can bring to your home. Solar buyback plans do the work for you, so you can relax knowing your excess electricity will be accurately worked out each month.

The Best Energy Plan for Your Home

Not all Texas solar buyback plans are created equally. It is important to find the right plan that offers the best value and service for your needs.

Look out for a company that is passionate about solar power and operates in the state you live. For example, Chariot Energy delivers affordable 100% solar power, building solar farms, flexible plans, and transparent pricing.

You do not want to work with a company that cannot provide simple processes and transparent pricing. Find a company that offers easy-to-understand plans and no hidden fees. Also, check their customer service process and how easy they are to contact if an issue arises.

You can also check a company’s reputation online. See what other customers have been saying about them and if their promises match reviews. Sites such as Better Business Bureau are good places to start.

Chariot Energy Solar Buyback Program

If you live in Texas and your home has solar panels, it is time to sign up for a solar buyback program. These programs help ensure renewable energy plans are at their most efficient, revolutionalizing the way solar energy is used in the US. Help provide solar for all and reap the rewards of doing so.

Chariot Energy is here to help find you the best solar buyback program for your needs. Find your plan online to get started, and do not hesitate to contact us if you have any questions.