Denton Municipal Electric Announces New Solar Buyback Rate

Denton, TX, Oct. 23, 2024 - On October 22, 2024, the Denton City Council approved a new solar buyback rate for residents and businesses who contribute solar energy to the grid. Starting January 1, 2025, solar customers will receive $0.05 per kilowatt-hour (kWh) for the excess energy they generate. While this is a change from the previous average rate of $0.1065 per kWh, it reflects the current market conditions and ensures fairness for both solar and non-solar customers.

Denton Municipal Electric (DME) is a Gold Designated SolSmart community, demonstrating its dedication to renewable energy and its commitment to provide 100% renewable electricity. This new buyback rate helps maintain a balance between supporting solar power and ensuring that energy pricing remains fair for everyone.

"We're proud of the progress Denton has made as a renewable energy leader," said Tony Puente, DME General Manager. "This new rate ensures that we can continue to support our solar customers for the long-term, while also keeping energy prices fair for everyone."

Why the New Rate?

Since the launch of DME's GreenSense and Solar Programs, many households and businesses have benefited from rebates and incentives. Over time, the cost of installing solar systems has decreased, and federal tax credits have increased. As a result, Denton has shifted its focus from solar rebates to other programs that also benefit the environment - like energy efficiency upgrades and electric vehicle (EV) incentives - discontinuing the solar rebates in 2023.

The new rate is based on a comprehensive review by an independent firm to determine the real value of the solar energy fed back into the grid. By adjusting the rate, Denton Municipal Electric ensures long-term support for solar customers without placing an unfair cost burden on non-solar customers.

Keeping our Commitment to Solar and Sustainability

Even with the new rate, Denton remains fully committed to helping our community adopt clean energy. Solar customers will continue to benefit from the GreenSense Incentive Program, which provides $1 million annually for energy efficiency upgrades, electric vehicle incentives, and other sustainability initiatives. In addition to this, funding from the City's data center project will further support these programs, making them more accessible to everyone.

Denton will continue to streamline processes for solar installations, making it easier for customers to go solar. This includes offering multi-mode inverters that allow homes to be self-sufficient during power outages and simplifying the permitting process for installations.

DME has been a municipally-owned electric utility since 1905, and we are proud to serve our community by providing reliable, affordable, and renewable energy. Our efforts to support solar power and energy efficiency are key steps toward reaching our city's ambitious sustainability goals.

For more information on the new solar buyback rate or to learn how you can benefit from our GreenSense Incentive Program, visit www.cityofdenton.com/rebates.

Contact: Stuart Birdseye, External Affairs Administrator/PIO, Denton Municipal Electric [email protected], (940) 349-8009

(About Denton Municipal Electric) Denton Municipal Electric is Denton's municipally-owned electric provider since 1905 and is proud to supply the Denton community with safe, reliable, and 100% renewable energy.

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