TEXAS WILL SPEND FOR SUN

Texas Senate passes $500M solar incentive bill
Jim Vertuno, April 22, 2009 (AP via Forbes)

"Texas would develop a $500 million solar energy rebate program to help make it easier for homeowners and businesses to tap into the power of the sun under a bill passed in the Senate.

"Environmentalists hailed the 26-4 vote…[B]y getting more Texans use solar power, consumers can reduce dependence on foreign oil, said the bill's sponsor, Sen. Troy Fraser, a Horseshoe Bay Republican."

Time to develop this asset. (click to enlarge)

"The fund would be paid for with fees built into monthly electric bills. Homeowners would pay 20 cents, commercial users $2 and industrial users $20 a month.

"It's a small price to pay for a program that could let Texans recoup thousands of dollars through rebates, federal tax incentives and lower energy bills, said Luke Metzger, director of Environment Texas."

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"The bill also requires developers to offer solar as a standard option in developments with 50 or more homes, creates a loan program for schools and prohibits neighborhood associations from banning homeowners from installing solar projects.

"Although solar is becoming more mainstream as an energy source, the cost of installation can be too much for homeowners or businesses without rebates and tax incentives…Fraser's bill is designed to collect up to $100 million annually over five years. It would pay rebates of up to 30 percent of the cost of installing solar technology. The federal government also allows tax credits of up to 30 percent."