Memorial Day is observed as a day to remember and celebrate Americans who have lost their lives while serving our country in the Armed Forces. Memorial Day also means a three-day weekend filled with hamburgers, hot dogs, swimming, and warmer weather for many Americans. With the sun shining more than 300 days each year in Arizona, switching to solar makes real dollars and sense! As a homeowner, here are some of the ways you can save by going solar.
Solar Investment Tax Credit
The solar investment tax credit covers 26% of the cost to install solar panels. It’s a dollar-for-dollar reduction of the income tax you owe for homeowners installing solar panel systems. If you don’t have tax liability to utilize all the credit, you can roll over the rest of your solar credits to future years.
Switching to solar energy can result in significant long-term savings. The average Arizona household can expect a solar payback period of 6.96 years. Solar payback is the amount of time needed to recover your initial investment through electricity savings from your home solar system. The typical 25-year savings with current electricity rates can be over $45,000.
Excess Solar Energy
When your home solar panels provide more electricity back to the power grid than you use, your local utility will roll over unused monthly bill credits to the following month. This system, called net billing, allows Arizona homeowners to benefit directly from excess energy, significantly reducing your electricity bill. With the sun providing a free source of energy, you’ll have a more stable and predictable monthly utility bill.
According to the U.S. Energy Information Administration, 25% of the energy consumed in Arizona homes is for air conditioning, which is more than four times the national average. The amount you’ll save by installing solar panel can vary depending on factors such as how much you pay for electricity, how much electricity your home uses, the square footage of your home, roof characteristics, installation costs, rebates, and incentives. The longer you wait to go solar, the more savings you’re missing out on.
Generating clean, green solar energy doesn’t require combustible fuels. You’ll only need sunlight. Not being reliant on fossil fuels means you’ll be reducing your carbon footprint. Energy produced from solar panels is free of pollutants and emits no greenhouse gasses.
At Cool Blew Solar, we can provide you with current information about the substantial savings from solar. Contact us today at 623-234-2836 in the Greater Phoenix area. Our industry certified technicians are here to help you go solar.