Average Cost Of Solar Panels In Arizona
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.
Solar Panels Cost Per Square Foot
According to HomeGuide, solar panels will cost about $7 per square foot in Arizona. Prices will range from $4-$10 per square foot, typically.
Commercial Solar Panels Costs Per Watt
Typically, 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.
Solar Panel Installation Cost In Arizona
You can save anywhere between $25,000-$50,000 over the next 25 years once you install solar panels to your home or business. Simply pay a small monthly loan payment and your panels should be completely paid off in less than 5 years total.
Installations will cost between $14,000-$30,000, depending on the city you live in. Glendale and Phoenix are on the lower end of installation costs, while a place like Sedona can cost up to $30,000 for installations.
Are Solar Panels Worth It?
If you are wondering whether solar panels are worth the investment for your commercial property, the answer is a resounding yes! Solar panels can offset electricity costs by upwards of 75% per month. Additionally, business owners can deduct up to 85% of the system cost from their taxes.
Here is a look at a few of the benefits of solar panels:
- Reduces electricity costs
- Quick return on investment
- Maintenance free
- Power costs will be locked in for years to come
- Huge tax rebates for businesses
- Can be financed with no money down and/or low monthly payments
How Much Money Can You Save With Solar Panels?
Solar panels can save you thousands of dollars throughout the lifetime of these panels. The average homeowner in Arizona can save upwards of $20,000 over the next 20 years following installation. Most homeowners will experience savings between $10,000-$30,000 over 20 years time.
Ways To Save Money With Solar Panels
Arizona homeowners tend to save about $20,646 over the next 20 years after installing panels, according to EnergySage. The total amount of money you save depends on how much sunlight your panels receive throughout the day. In a place like Arizona, of course, homeowners can count on receiving many hours of sunlight each day.
Commercial facilities that installed these solar panels tend to save up to 75% on monthly utility bills. It only takes an average of 5 years to pay off your commercial solar system, which leads to 25-35 years of free electricity.
Here are a few ways your business could save even more money after installing solar panels:
1. Federal Tax Credit
A federal tax credit can save new solar installers upwards of 30% of the cost of the total panel installation.
2. State Tax Credit
States like Arizona offer a 10% credit, which helps offset the cost of the panels.
3. Accelerated Depreciation
Commercial property owners are able to deduct up to 85% of the system’s total value from their business taxes.
Any business that opts for solar panel installation can enjoy these benefits:
- Offset electricity usage by 75%
- Save nearly $1,500 per month
- Pay off system cost in 5 years, on average
- Enjoy free electricity for the next 25-35 years.
Schedule Your Insulation Services Today!
Whether you are building a new house, or just need to remove the old insulation and install a newer more energy efficient option Barrier Insulation is Phoenix’s first choice in home and commercial insulation. We proudly provide the valley’s more comprehensive insulation service that helps you stay more comfortable and save on energy. Click here to schedule on our website, or just give us a call at 602-499-2922.