The supply and demand solar panel cost remains the same for South Texas homeowners.
Rebates and local incentives still apply to the solar panel cost for new buyers. However, on March 1, 2022, San Antonio will see a change in its electricity bills with the local utility.
CPS Energy will implement a 3.85% base rate increase and a regulatory asset. This will allow the municipal utility to recover legitimate fuel costs incurred during the epic SNOW-VID days of February 2021. According to Ana Lozano, CPS Energy Strategic Research & Innovation Manager, “For the average residential customer, the rate increase will add $3.84 to the monthly bill, along with $1.26 per month for the fuel adjustment. Combined the total bill impact will be $5.10 for the average residential electric and natural gas customer.”
What does this new base rate increase mean for residential homeowners with solar panel systems? “This rate increase will be applied to all energy consumed, just like non-solar customers. The rate adjustment will not affect any surplus energy generated and sent to the grid,” explains Lozano.
Will new buyers experience a change in solar panel cost? No. The rate increase may convert homeowners to go solar.
“The decrease in solar panel cost, along with federal tax incentives and the CPS Energy solar rebate, have helped make solar more accessible to more customers,” Lozano points out.
“CPS Energy has approximately 29,000 solar PV systems in their service territory and receives between 400-600 new solar applications per month.” Lozano adds, “We [CPS Energy] have seen a steady increase in the demand for solar throughout the pandemic, with a 40% increase in applications in the last 12 months.