Benefits of Getting Solar Panels for Your Arizona Home
Solar panel systems are becoming more common nationwide—especially in Arizona, where there seems to be unlimited sunshine! If you’re considering getting solar panels for your Arizona home, learn the benefits of installing a system below.
Installation costs are the biggest obstacle for many Arizona homeowners to install a solar panel system. The average solar panel system installation costs roughly $30,000, which is a steep price for many, even with lease and financing options.
However, government tax incentives are a shared consideration for residential versus commercial solar systems, and Arizona residents have plenty that help ease the burden of these installation costs. For example, the federal solar investment tax credit offers any homeowner a 30 percent tax credit toward the total cost of installing the system. Arizona homeowners also have a sales tax exemption; they don’t have to pay any state sales taxes on solar equipment or installation fees.
Part of what to expect after installing solar panels is a dramatic reduction in your energy bills. As every Arizonan knows, the state has plenty of sunshine, so home solar panels are a great investment and offer a fantastic return in lower monthly utility bills.
On average, Arizona homeowners will see a 70 percent reduction in their monthly energy bills after getting solar panels. In some cases, their bills will disappear. Therefore, Arizona homeowners can expect to make back their investment in the panels in just 10 years and enjoy low utility bills for the rest of their homes’ lives!
Net Billing Program
Another advantage Arizona homeowners with solar panels can enjoy is participating in the state’s net billing program. Arizona homeowners with solar panels often harvest more electricity than their homes need. Instead of storing and letting it sit, homeowners can sell their excess electricity back to the utility provider.
The electricity rates are slightly lower than the typical rates homeowners pay, but it’s still free money homeowners get just for having solar panels. This helps them get a return on their solar panel investment faster.
Home Value Increase
Another direct benefit of getting solar panels for your Arizona home is increasing the property value. Solar panels offer so many advantages to homeowners in Arizona that many prospective buyers would pay extra to buy a home that already has a system installed.
And if you’re worried about the increased property taxes with your solar panels, you shouldn’t! Arizona offers a property tax exemption for solar panel installations, so your taxes won’t rise even if your home’s value goes up.
As you can see, installing solar panels on an Arizona home has plenty of advantages. While the installation costs can be steep, there are plenty of incentives to lessen the burden. And once installed, the long-term savings are well worth the investment!