Arizona ranks #8 in America for savings from installing solar panels on your home!
Solar is More Affordable than Ever
The price of solar has fallen drastically over the last decade thanks to research into more efficient and cheaper ways to build solar panels. And since more people and companies are investing in solar, the price comes down as the demand increases. American families can save over $100 a month (over a thousand a year!) just by switching to solar alone. And that’s not counting any extra energy their panels make that they can sell back to the power grid.
The Top-rated Arizona solar tax credit and state incentives.
There are several Arizona solar tax credits and exemptions that can help you go solar:
Residential Arizona Solar Tax Credit
The Residential Arizona Solar Tax Credit reimburses you 25 percent of the cost of your solar panels, up to $1,000, right off of your personal income tax in the year you install the system.
Equipment and Property Tax Exemptions
Thanks to the Solar Equipment Sales Tax Exemption, you are free from the burden of any Arizona solar tax. Therefore, you aren’t required to pay any sales tax on the purchase of your solar system. Similarly, the Energy Equipment Property Tax Exemption means you won’t have to pay any additional property taxes on the value you are adding to your home by investing in solar panels.
Don’t Forget About the Solar Federal Tax Credit
On top of these state tax rebates and exemptions, you will also qualify for a huge tax credit from the Federal government. Known as the solar Investment Tax Credit (ITC), this rebate is worth 30 percent of the system cost, and will be deducted from your federal income tax. Keep in mind that the federal ITC applies only to those who buy their PV system outright (either with a cash purchase or solar loan), and that you must have enough income for the tax credit to be relevant.
The APS Solar Partner Program:
- is a free program with no cost to you
- provides annual savings of $360 off your APS electricity costs
- requires no commitment and is easily transferred to new homeowner
- studies late afternoon solar production against peak usage periods
- is for qualified homes with a westerly-facing roof, in peak usage areas and a limited area of south-facing roofs will qualify in targeted areas.
The solar experts at Cool Blew Electric & Solar can provide you more information on the rebates and incentives you qualify for. Call them today for a free estimate or for more information.