Should I Go Solar In Arizona?
There are many reasons why solar panel installation is becoming more and more popular in the valley of the sun. Below are some of the reasons why making the switch to solar is beneficial in Arizona.
The State Will Help You Pay For Solar Panels
The Arizona government offers solar tax incentives to individuals and businesses investing in solar panel systems. Known as the solar energy credit, this incentive can be worth nearly 25% of the cost of a solar panel device up to $1,000. The government credit can also be utilized for other systems, such as cooling, lighting and other electricity. This is the perfect incentive to take advantage of if you are looking to save money by going solar.
Arizona Has The Most Sunny Days In The U.S.
According to BestPlaces, Arizona currently receives more than 299 sunny days. That is the most in country, even including the sunshine state of Florida. Since other energy sources like gas and oil are finite, solar power clearly has its advantages. Investing in solar panels today will save you a large amount of money in the future and add value to your home, at the same time!
Federal Tax Credit
The federal government is offering tax credits to homeowners opting to go solar. These credits have been worth between 26-30% over the years, but change annually. Experts say homeowners who choose to go solar will save $25,000 over the next 25 years.
Solar Panels Boost Home’s Value
According to the National Renewable Energy Laboratory, installing solar panels can increase your home’s value by $20 for every $1 reduction in annual utility bills. This means that a solar energy system that saves $400 per year on utility bills will ultimately boost your home’s value by $8,000.
There are mixed views by many home experts, though. They believe the value of solar panels truly lies in the eyes of the potential buyer. Some may see it as a plus, others may see it as a negative. Solar panels are just like swimming pools or fences in that regard. It really depends on what the buyer is looking for in a new home purchase. Once you’ve found the right buyer, there is no doubt these systems will increase your home’s overall value.
Locks In Utility Costs
With solar panel installation, you have the ability to lock in your utility costs for the next quarter of a century. Utility rates are constantly going up and seemingly never coming back down. Take away the certainty of rising costs by investing in solar power today.
Inexpensive Solar Panel Installation
Since the cost to finance solar is cheaper than what you currently pay the utility company, you can start saving money right away. Plus, installing your solar system will not cost you any money out of pocket unless you plan to pay with cash.
Lowers Your Carbon Footprint
Pollution has negative and long-term effects on the local environment and planet as a whole. Thankfully, you can reduce your carbon footprint by investing in solar energy. Solar panel systems do not rely on fossil fuels, providing safe and clean energy.
How Much Money Can You Save?
Aside from saving on taxes, some estimates say you could save up to 99% on your electricity bill. Now, this figure may sound unrealistic, but with 300 sunny days per year and a powerful solar system, your average monthly bill could come out to just $35.
How Much Do Solar Panels Cost?
The typical cost for a 7kW solar system of panels runs around $24,500. This price is dependent on how many watts of power your home will use, multiplied by the current rate of solar panels (per watt) in Arizona. An average home in the valley of the sun will use around 7 kW. The cost of $24,500 includes installation costs and materials.
According to HomeGuide, solar panels will cost about $7 per square foot in Arizona. Prices will range from $4-$10 per square foot, typically. Meanwhile, commercial solar panels in Arizona will cost between $2.50-$3.50 per watt, meaning business owners can expect to pay $3.00 per watt, on average.
Is Going Solar Worth It In Arizona?
As the sunniest state in the U.S., Arizona consistently ranks as one of the best states to make the transition to solar power. It’s best to first access your monthly energy bills, determine how much sun your home receives per day, then calculate the size and expense of the solar panels you wish to install.
You must also consider your financing options and the expected return on investment. Contact a solar installer for an accurate estimate in your area.
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