Installing solar panels in Arizona can save you big when it comes to utility bills. Not to mention, you could even make a profit off this banked energy.
Because Arizona is one of the sunniest states in the country, it would be very beneficial to take advantage of this free and clean energy source.
Now is the time to take advantage of this opportunity–gain control of your electricity by making the switch to solar! Read on to find out how much you would need to invest and, in turn, how much you could save.
How Much Does Solar Cost in Arizona?
In addition to the 26% federal tax credit on solar panels nationwide, the state of Arizona offers a Residential Arizona Solar Tax Credit which reimburses 25% of the cost of solar panels (up to $1,000).
Furthermore, there’s no sales tax added when you purchase the system and any home value increase due to the installation of the system is also not taxed.
The total cost of your system depends on your home’s average utility costs and energy usage, as well as your rooftop’s solar potential and average labor costs and demand in your area.
Luckily, our team of solar experts at Boundless works with you to provide the best possible scenario when it comes to installation costs.
On average, the cost to install a system in Arizona runs from $10,000 to $14,000 with the average payback range being 6-9 years.
When you compare the total solar cost versus utility cost over 20 years for the same amount of electricity, while taking into account inflation, all other costs as well as incentives, the average amount saved in this state is around $43,000.
How to Calculate Your Payback Period
Because your solar savings are very specific to your situation, we offer the ability to calculate your solar savings to see how much you personally could save by joining the clean energy movement.
In a more general sense, the basic formula for calculating your payback period is to divide the cost of the system, including the financial incentives and tax rebates, by the annual amount you’ll save on utility bills.
The result will be the amount of time it’ll take you to recover the cost of the panels.
Ready to make the switch yet? Boundless can help.
Be sure to check out the answers to a few of our frequently asked questions in Arizona.
At Boundless, we are committed to providing you with the best solar installation process possible.
To see if you are eligible for solar, contact our team of solar experts today to request an appointment. We are excited to help you switch on the sun!