With more than 300 days of sunshine annually, it’s no wonder more Arizonans are switching to solar energy. You may be hesitant to pay the hefty upfront costs, but this long-term investment can set you up for success for years to come. In this guide, we’ll outline the top benefits of solar energy in Arizona to help you see why it’s worth the investment.
1. Save on Your Electricity Bill
The average monthly electricity bill in Arizona is a whopping $184, which is higher than the national average. One of the top benefits of switching to solar energy in Arizona is the ability to minimize or eliminate utility bills. That said, it’s important to understand how installing solar panels will lower your electricity bill.
Going solar will make you less reliant on the grid for energy. For example, if you use 30kWh for your household consumption and the solar panels generate 15kWh, you only need 15kWh from the grid. You can also save energy from Arizona’s net metering programs, offered by both Arizona Public Service (APS) and the Salt River Project (SRP). Under these programs, any surplus energy generated in your home is pushed to the grid for credit. You can utilize the credit to cater to your energy expenses when your panels aren’t generating sufficient electricity.
2. Tax Incentives
After purchasing your solar system, you can benefit from various incentives to help you make more savings. Some of these incentives include:
- The Federal Investment Tax Credit (ITC): The federal government offers a 30% tax credit for the cost of your solar panel system.
- Solar Equipment Sales Tax Exemption: Installing new solar panels in your home won’t make your property taxes go up thanks to the Arizona sales tax exemption
- Residential Solar Tax Credit: Purchase new solar panels for your Arizona home and enjoy a 25% credit on your installation cost, capped at $1,000.
- Energy Equipment Property Tax Exemption: Get a 100% property tax exemption on the added property value from your solar panels.
3. Raising Your Property’s Value
Solar panels increase your home’s value in most cases. In fact, they may even entice prospective buyers. A 2019 Zillow report stated that homes with rooftop solar panels sold for 4.1% more than properties without. This is an average of $9,300 for a median-valued home in Arizona. There is also additional evidence that shows homes with installed solar panels have a 24.7% increased likelihood of selling for much more than their asking price.
4. Good for the Community
Solar energy is a clean and renewable energy source that can help communities generate their own electricity without relying on fossil fuels, which are dangerous for the environment. Therefore, if the skyrocketing energy bills and sustainability are top concerns in your household, then solar power may be the perfect solution for you. Moreover, switching to solar power puts less pressure on the electrical grid, which can cause accidental wildfires owing to drowned power lines.
5. Potential To Store Your Own Energy
Arizona receives the most sunlight in the country, making solar energy convenient to the residents. Moreover, the state experiences the longest peak sunlight hours, meaning your solar panel system will generate surplus energy during the day. Integrating a solar battery storage system will allow you to save extra energy when the sun is down. This guarantees you continuous power even during energy outages.
6. Achieve a Quicker Payback Period Thanks to Sunny Days
For most residential properties, the solar panel payback period averages between six to ten years. Thanks to the sun-drenched expanse of Arizona, the average payback period for solar panels averages 7.5 years. Considering the average lifespan of your PV panels is 25 years or even more, this means you will enjoy more than 17 years of free energy once your system begins paying for itself.
Go Solar in Arizona With Solar Optimum
The decision to go solar may seem daunting at first due to the high initial costs. However, Arizona has some of the best financial incentives in the country and access to plenty of sunlight to provide abundant energy.
As one of the leading solar companies in Arizona, Solar Optimum is ready to guide you through the solar installation process to ensure you get maximum savings on your energy bill. We serve Maricopa County and the Greater Phoenix area. Contact us to learn more about the benefits of going solar in Arizona, or download Solar Optimum’s Ultimate Guide to Going Solar.
