| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Texas |
| Incentive Type: | Industry Recruitment/Support |
| Web Site: | http://www.seco.cpa.state.tx.us/re/incentives-taxcode-statutes.php |
| Administrator: | Comptroller of Public Accounts |
| Start Date: | 01/26/1982 |
| Eligible Renewable/Other Technologies: | Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All) |
| Name: | Texas Tax Code § 171.056 |
| Date Enacted: | 1981 |
| Effective Date: | 1982 |
Companies in Texas engaged solely in the business of manufacturing, selling, or installing solar or wind energy devices are exempt from the franchise tax. The franchise tax is Texas’s equivalent to a corporate tax. There is no ceiling on this exemption, so it can be a substantial incentive for solar and wind businesses.
For the purposes of this exemption, 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 listed as an eligible technology.
Texas also offers a franchise tax deduction for solar energy devices which also includes wind energy as an eligible technology.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
