While Texas is known for its shale plays, which produce oil and natural gas, when it comes to renewable energy, the Lone Star State also receives top marks when it comes to wind power.  However, despite an abundance of sunshine, the Texas electricity market doesn’t shine when it comes to solar energy, according to a report released by the Federal Reserve Bank of Dallas.

The Dallas Fed indicated several factors at work:

• Texas doesn’t require utility companies to purchase excess energy from solar panels, allowing homeowners to pay only for the net energy they consume.

• Low energy prices, meaning homeowners are faced with a longer repayment period to recoup their initial residential solar investment, averages $17,000 nationally.

• Texas has poor solar incentives; it only excludes installation from property tax assessments. Homeowners in other states can benefit from direct subsidies, income tax credits and tax rebates.

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