Texas Solar Buy Back Plans: Maximize Your Solar Savings in 2024

Texas Solar Buy Back Plans: Maximize Your Solar Savings in 2024

Discover Texas solar buyback plans to save more in 2024. Compare top options and tips for maximizing your solar savings.
Written By:
Kendra Aquino
min read
Last Edited By:
Thad Warren
May 29, 2024

Hey solar enthusiasts! Ready to make the most out of your solar energy investment? We've got the inside scoop on the best Texas solar buy back plans for 2024. Here's a quick, no-nonsense guide to help you navigate each option and maximize your savings.

Will Texas Buy Back Your Extra Solar Power?   

Absolutely! Texas is a leader in renewable energy with its solar buyback (or net metering) program. When your solar panels generate more electricity than you need, the extra power feeds back into the grid, earning you bill credits or cash payments. To get started, you'll need an interconnection agreement with your utility company and an interval meter installed.

Top Texas Solar Buy Back Plans

In Texas, particularly in deregulated areas, you get to choose from a variety of electricity providers offering solar buyback plans. Here’s a quick rundown of the standout providers and their offerings:

Almika Solar

  • Plans: 12-Month Buyback36 Energy Plus 1:1 Buyback
  • Rates: 4.9¢/kWh (12-month), 14.5¢/kWh (36-month)
  • Conditions: Covers up to 110% of consumption; solar buyback credits roll over monthly.

Amigo Energy

  • Plans: Mega Saver, Basics, Truly Fixed Price, Weekends Free, etc.
  • Rates: Around 3.0¢/kWh (based on customer feedback)
  • Conditions: Review a Sell Back Agreement for details.

Champion Energy

  • Plans: Champ Saver, EV Saver, Champ Silver, Free Weekends
  • Rates: Real-time wholesale market prices
  • Conditions: Solar buyback credits roll over monthly; no cash-out option.

Chariot Energy

  • Plans: Shine, Rise
  • Rates: Shine: up to 25¢/kWh, Rise: retail kWh price without TDU charges
  • Conditions: Credits roll over monthly; available for all system sizes.

David Energy

  • Plans: Solar Seller 12
  • Rates: 90% of real-time wholesale market price
  • Conditions: Credits roll over monthly; eligible for cash payout.

Energy Texas

  • Plans: Sun-Jacinto Solar Buyback Program
  • Rates: Lesser of real-time wholesale price or retail kWh price
  • Conditions: Credits roll over monthly; no cash-out option.

Gexa Energy

  • Plans: Solar Buyback 12, 24
  • Rates: Same as retail price without TDU charges
  • Conditions: Credits roll over monthly; no cash-out option.

Green Mountain Energy

  • Plans: Renewable Rewards, Solar Credit
  • Rates: Solar Credit: 5.3¢/kWh, Essential: retail price without TDU charges
  • Conditions: Credits roll over monthly; for systems up to 50 kW.

Octopus Energy

  • Plans: Octo 12, OctoPrepay 12
  • Rates: Real-time wholesale market price
  • Conditions: Credits roll over; request cash payout when balance hits $50.

Reliant Energy

  • Plans: Solar Payback Plus 12
  • Rates: 5.3¢/kWh
  • Conditions: Credits roll over monthly; for systems up to 50 kW.

TXU Energy

  • Plans: Solar Buyback Match, Solar Buyback Saver
  • Rates: Buyback Match: 14.4¢/kWh, Buyback Saver: 5.0¢/kWh
  • Conditions: Credits roll over monthly.

What Is the Best Texas Solar Buy Back Plan in 2024?

Determining the best Texas solar buyback plan for 2024 depends on several factors, including your energy consumption patterns, the size of your solar installation, and your financial goals. Here’s a quick recap of some standout plans:

Almika Solar offers competitive rates of 4.9¢/kWh (12-month) and 14.5¢/kWh (36-month), covering up to 110% of consumption with credits that roll over monthly. Amigo Energy has various plan options with rates around 3.0¢/kWh based on customer feedback. 

Champion Energy uses real-time wholesale market prices with credits rolling over monthly but no cash-out option. Chariot Energy’s Shine plans offer up to 25¢/kWh with credits that roll over, while their Rise plans match retail kWh prices without TDU charges. David Energy provides a 90% real-time wholesale market price with eligible cash payouts.

Finding the Best Solar Buy Back Plan for Your Needs

Choosing the best solar buyback plan isn't a one-size-fits-all situation. It depends on your specific needs and circumstances. Here are some highlights to consider when comparing plans:

  • Buyback Rates: Look for plans with competitive buyback rates. Almika Solar and David Energy offer competitive rates that might suit your needs.
  • Credit Handling: Understand how each plan handles excess credits. Most plans, like those from Almika Solar and Champion Energy, roll over credits to the next month, but some do not offer cash-out options.
  • Plan Conditions: Review the specific conditions and terms of each plan. For example, Chariot Energy's Shine plans have a higher buyback rate but may have more stringent conditions you are required to meet compared to other plans.
  • Flexibility: Some plans, like those from Chariot Energy, are available for all system sizes, offering more flexibility depending on your solar setup.
  • Support: Reliable customer support is crucial. Our GridHacker support team is always ready to help guide you in the right direction and make sure you choose the best plan for your needs.

GridHacker’s Take

Selecting the right solar buyback plan can be a game-changer for Texas homeowners with solar panels. Understanding your energy consumption is crucial, especially if your system generates more power than you use. Selecting a plan that matches your energy production can lead to significant savings. It's also essential to know the details of your plan, such as how credits are handled by your supplier.

Solar buyback plans are definitely worth exploring. Don't just settle for the first option you find—compare different plans to maximize both your financial and environmental benefits. With the right plan, solar energy can be both economically smart and environmentally friendly.

Extra Solar Savings

Don’t forget the federal solar tax credit, which allows a 30% deduction on the cost of installing a solar system. Also, check out local incentives and programs for additional savings.

Ready to take the plunge? Explore your solar options and start saving today!