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Being one of the sunniest states in the country makes Arizona ideal for Solar Power. So it comes as no surprise to find the state topping the charts across solar metrics categories. When you look at the cumulative amount of solar electric capacity installed through last year, Arizona is a leader of the pack. But why is this? Well, for one, the generous, year round sunshine. But the state’s solar incentives along with the federal solar tax credit also contribute greatly to the widespread homeowner participation in moving to Solar.
The Residential Solar Energy Credit offered by the state of Arizona allows homeowners to save a bundle on their solar panel system. This credit alone pays you back 25% of the system’s cost, capping at $1,000 total. If the credit exceeds your total income taxes owed, you can carry the credit forward for up to 5 years.
Any homeowner who purchases a solar panel system in the state of Arizona is exempt from paying sales tax. You’ll also be granted a property tax exemption, making the value added to your home by going solar deductible from the assessed value of your property.
The ITC, also known as The Federal Investment Tax Credit, is also available to Arizona homeowners who purchase their solar panel system outright. This credit amounts to 30% of your solar system’s cost after deducting the value of your state rebates. By the end of 2019, however, ITC credits will drop from 30% to 26%. The following year, after 12/31/2020, the tax credits for installations will drop to 22%. This is one of many reasons why it makes sense to go solar now.
Agreements and loan terms can be customized based on your needs, resulting in complete solar panel system installations with zero out of pocket upfront for the homeowner. Our specialists will work with you hand in hand to ensure you take advantage of all the state and federal incentives, credits, and rebates that are available to the Arizona homeowner. We’ll even handle all of the paperwork, streamlining the process for you to get your solar panel system installed hassle free. So just sit back and watch as your energy bill gets crunched in half.
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