Texas Electricity Rates Up 3.7% This Year
Lock in your solar savings before rates climb higher. Get your free Waco quote today.
Waco homeowners typically save about $166/month on electricity after going solar. With Oncor rates up 3.7% this year, those savings only grow over time as you avoid future rate increases.
How much will I really save with solar panels?
Your bill drops because you're generating your own power. Most of the day, your panels cover your usage. At night, you pull from the grid, but your net bill is way lower.
Why do solar savings increase over time?
Electric rates in Texas go up about 3.7% per year on average. Over 20 years, that compounds significantly. Solar locks in today's rates. Your $166/month savings today could be $249/month in 10 years if rates keep climbing.
What is the average payback on solar panels?
$38,423 over 20 years assumes 3.7% annual rate increases. Could be more if rates spike like they did in 2021-2023.
Waco Solar Savings Breakdown
Metric | Your Estimate
Texas runs on the ERCOT grid, which means different rules than other states. Understanding how ERCOT handles solar power is key to maximizing your investment.
System size
7.2 kW
Monthly savings
$166
Annual savings
$2,008
20-year savings
$38,423
Payback period
8.2 years
Frequently Asked Questions
Q: Will my electric bill be zero with solar?
A: Most Waco homeowners still have a small bill (connection fees), but production often exceeds usage.
Calculate your Waco savings
Why Rate Increases Matter for Waco Homeowners
Electric rates in Texas have been climbing steadily. Oncor territory has seen rates increase from around 10 cents per kWh five years ago to over 16 cents today - that's a 16% jump. And there's no sign of it stopping. The thing is that means for you:
- A typical Waco home using 1,200 kWh/month now pays about $244/month
- At 3.7% annual increases, that becomes $366/month in 10 years
- Over 20 years, you'd pay an extra $14640 in rate increases alone
Solar freezes your production costs at zero. Your panels produce the same power whether rates go up 3% or 10%. That's real rate increase protection.
Related Resources
- Learn about solar cost in Waco
- Learn about solar roi in Waco
- Solar savings in Kyle
- Solar savings in Buda
- Explore battery options in Dallas
See our complete savings guide for Texas-wide information.
Ready to Go Solar in Waco?
Modern Electric helps Waco homeowners:
- Lock in savings before rates climb higher
- Earn $200-500/year from grid services with battery systems
- Get transparent pricing with no hidden fees
Learn More
- Texas Solar Battery Guide- Complete battery overview
Texas Solar Battery Guide- Complete battery overview
- Texas Solar Incentives- All available tax credits and rebates
Texas Solar Incentives- All available tax credits and rebates
- Solar Companies in Texas- How to choose the right installer
Solar Companies in Texas- How to choose the right installer