Good news from the Lone Star State. Oncor Electric Delivery Company has announced plans to provide cash rebates for Texas residents and businesses who install solar PV systems. Dubbed the “Take a Load Off, TexasSM Solar Photovoltaic Incentive Program,” the initiative will disperse $16 million over four years. As reported by the Dallas Business Journal, Oncor aims to provide

qualified parties with cash incentives to install solar energy systems with the intent of growing the renewable energy market. The company said its delving out $2.46 per DC watt with a maximum of $24,600 for residential installations and $246,000 for business and other installations.

When taken in combination with the 30 percent federal tax credit, utility- and state-sponsored rebate programs can significantly reduce the upfront costs associated with installing a solar PV system. One of 12 steps Oncor is taking to improve energy efficiency, the rebate is expected to result in 1,400 new solar installations, statewide. And — with economic stimulus and energy/environmental concerns at the fore — the timing could not be better:

“With so much interest in the solar power industry at the state and national level, Oncor’s Solar PV Program is the right idea at the right time,” asserted Michael Stockard, Oncor’s director of energy efficiency programs.

For more info, check out Oncor’s energy efficiency webpage, which will likely outline the details of the new program in coming days. And to find a certified solar panel installer serving Texas, be sure to browse our Texas solar professionals listings.