It only makes sense that solar is big in Arizona. As the sunniest state in the U.S., nearly every day is optimal for generating power from the sun. And because of this, the Grand Canyon State also has some of the best solar programs in the country. Here are some of the best opportunities to go solar and save money.
Residential Arizona Solar Tax Credit
Homeowners are reimbursed 25 percent of the cost of solar panels, up to $1,000, directly from personal income tax in the year that the system is installed.
Solar Equipment and Property Tax Exemptions
The tax savings doesn’t just end with the purchase of panels. With the Solar Equipment Sales Tax Exemption, you also are exempt from paying any sales tax on the purchase of a solar system. As well, this tax exemption means you don’t have to pay for additional property tax on the value you’re adding to your home by installing solar panels.
Federal Tax Credit
Along with tax rebates and exemptions from the State of Arizona, you also can benefit from the Federal Solar Investment Tax Credit (ITC) which is a rebate worth 30 percent of the system cost. This amount is deducted from your federal income tax. This credit doesn’t apply to leased systems. However, if you purchase a system either with cash or through financing, you can take advantage of the savings.
Utility Company Savings
If you’re an APS customer, you can also participate in the APS Solar Partner Program which delivers an additional yearly savings of $360 off your APS bill. The program is available to Arizona residents with homes with westerly facing roofs.
Learn More About Savings
Investing in a solar system requires both thought and planning. Call the experts in solar products and service – Cool Blew Solar. We’re here to answer your questions and help you gain the most benefits from a home solar system. Call us today at 623-234-2836.