Calculate how much you can save on your CPS bill with solar panels

Average 25 year solar savings for a CPS customer: $42,753

Average solar panel cost: $15,035 - $18,376*

Estimate solar panel cost and savings based on your location, roof and power use.

*Solar panel cost varies by location, solar panel mqanufacturer, system size and the amount of electricity your home uses.

Adding solar panels and switching rate plans can lower your CPS Energy electric bill

Updated: October 22, 2020

There are three ways you can reduce your CPS bill: changing your habits, switching your rate plan, and adding solar panels.

You've probably heard a lot about reducing energy consumption by doing things like switching to LED lightbulbs and adding insulation to your walls, but these fixes are relatively easy compared to the far more impactful step of making changes to your lifestyle.

The second thing you can do is switch your rate plan. CPS doesn't offer time-of-use billing that can help you save money by shifting your usage of energy-intensive appliances to off-peak hours, but there may be other options for you .

Finally, you can reduce or even eliminate your electricity bill by installing solar panels on your home.

Solar panel cost calculator

How much can I reduce my CPS Energy bill by switching to a different rate plan

For some people, the savings from switching rate plans may only be a few dollars per month, but for many it can be $20-$100 per month. That's between $240 and $1,200 that you may now be paying to CPS Energy each year for no reason.

Finding out what's available to you is as simple as a phone call or email to CPS Energy. Even a small savings can be worth it.

Are solar panels worth it for CPS Energy customers?

Probably. With the Federal solar tax credit, and available Texas solar property tax exemption, home solar panels are an investment worthy of your careful consideration as a CPS Energy customer. CPS Energy’s net metering rate also allows you to at least get some credit on your power bill for the excess solar electricity your panels produce which you can’t use onsite. Your credits, while at a lower rate than you pay for electricity, roll over to the next month’s bill.

Does CPS Energy offer full 1 for 1 net metering credits for exported solar power

No, CPS does not offer full 1 for 1 net metering. You will get full credit up to your monthly usage, however. For any excess kilowatt hours you send back to CPS beyond your usage, you will be credited at a lower rate of $.015/kwh.

What incentives, tax credits and rebates are available to CPS customers for installing solar?

The major financial incentive currently available until the end of 2020 is the 26% federal solar tax credit. The way this works is that the full cost of the system needs to be paid to the installer, and this tax credit can then be claimed back as cash when you next do your taxes.

Many states, local governments and utilities also offer incentives for homeowners who go solar. This help can take the form of state tax credits, rebates, tax breaks, SRECs or even performance-based incentives. The best part is that all of these incentives apply in addition to the federal credit.

Here is every incentive you may be eligible for as a CPS customer:

Table 1: Incentives
Upfront Incentives Value*
Residential Renewable Energy Tax Credit (Federal) -$5,220
CPS Energy Net Metering (San Antonio) (State)

Net metering is available to all customer of CPS Energy

Varies
Renewable Energy Property Tax Incentive (State)

100% of cost of solar system not included in property taxes.

Varies
CPS Energy - Solar PV Rebate Program (Utility)

$2,500 per project. Can earn an extra $500 per project for projects utilizing local modules. Incentive price will drop when first block is fully allocated.

-$2,500
TOTAL -$7,720

*Based on 8.91 kW system, average installation cost $22,575

How much does installing solar panels save the average CPS Energy residential customer?

If you input the details for a CPS customer with a power bill of $180 per month into the best online solar panels calculator, it tells you that you need a 8.91 kW solar system that will produce 13,290 kWh per year and that this system will return the owner a $42,753 profit after repaying the cost of the system.

The solar savings possible for you as a CPS customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.

Here is a monthly and lifetime solar savings estimate for the same relatively typical CPS customer with a $180 per month electric bill prior to solar and who installs a 8.91 kW solar system.

How much do residential solar panels cost for CPS customers?

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  • Utility provider: CPS Energy
    Utility bill: $ 204

    Prices based on a 10.0kW system, after 26% federal tax credit

    Solar prices near you

    Cost range of local prices

    $15,204-$18,582

    Net profit (savings less system cost)

    $41,163-$50,310

    Payback period

    5.2-6.3 years

    Recommended size for the selected utility bill

    10.0kW

    Solar panel cost calculator

    Detailed information about your estimate

    Table 2: Estimate details

    System Size (for 100% usage offset)

    8.91 kW

    Annual Power Generation

    13,290 kWh

    Pay-back time (assuming Cash purchase)

    6.5 Years

    Internal Rate of Return (IRR) on Investment

    13.2%

    Gross cost

    $22,575

    Total Upfront Incentives and Rebates

    -$12,997

    Net Cost of System after rebates and incentives

    $9,579

    Total Cost of Utility Power Avoided over 25 years

    $52,332

    Please note that the investment return figures do not include the possible increase in property value.

    What are the environmental impacts of CPS Energy customers installing solar panels?

    While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a CPS Energy customer installing a 8.91 kW solar system on their property:

    A solar system generating 13,290 kWh per year will save you money AND make the world a nicer place

    Saves you

    $1,710

    on average per year

    Reduces CO2 emissions

    6.58

    tons per year

    Equivalent to planting

    46 trees

    per year

    Equivalent to driving

    14,553 mi

    less per year

    CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.

    What factors affect the price of solar panels for CPS Energy customers?

    The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.

    It is common to see really good systems, using quality brands of equipment, being sold for around $2.53 per watt or $9,579 for a standard 8.91 kW solar system after the customer claims the 26% federal solar tax credit.

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