Arizona Solar
Incentives

Affordable Energy Options

Wildfires, hurricanes, and a new disease every now and then with risks to become a pandemic; all these things that are happening have always seemed to point us back to the world’s environmental crisis. These are only a few of the reasons why environmental activists, doctors, and scientists have long been promoting renewable resources and living – to slow down, if not prevent, the inevitable climate change; something that would gravely affect the planet, as well as all of us inhabiting it.
With people and communities finally realizing the negative impacts that climate change may bring, businesses, as well as homeowners have begun shifting to a greener lifestyle that benefits them, as well as the planet. Such a lifestyle involves eating organic, opting for reusable utensils instead of single-use plastic ones, and even installing solar panels.
And speaking of solar panels. Did you know that Arizona is one of the top cities promoting solar panels as a source of renewable energy? Facts show that in the whole USA, Arizona gets the most sun among all of the states, which gives everyone in Arizona great advantage, should they invest in solar panels.

Great Arizona Solar Incentives and Tax Credit

Arizona offers a lot of incentives and tax credits for households that would opt for a solar panel system. One of them is the Residential Solar Wind and Energy Systems Tax Credit which gives you a 25% tax credit for a new solar energy system. To be eligible for this incentive, the household’s solar energy system has to be compliant with the standards and performance required. Each residence’s reimbursement is capped at $1000 maximum – if the credit exceeds the taxes you owe, it can be carried over for up to five years.
Arizona offers a lot of incentives and tax credits for households that would opt for a solar panel system. One of them is the Residential Solar Wind and Energy Systems Tax Credit which gives you a 25% tax credit for a new solar energy system. To be eligible for this incentive, the household’s solar energy system has to be compliant with the standards and performance required. Each residence’s reimbursement is capped at $1000 maximum – if the credit exceeds the taxes you owe, it can be carried over for up to five years.
Not only that; Arizona has an Energy Equipment Property Tax Exemption, wherein having a solar panel system not only exempts you on property tax but also increases your home value by 2-3%. This can give you up to 100% tax exemption on the increased value of your property.

Arizona’s Solar Incentives Rank Amongst Top in the Country

Solar panel systems in Arizona are priced at around $12,495 to $16,905 for a 5 kilowatts installation which is enough for an average household. The price may feel a little high for the budget, but investing in it will actually save you more money in the long run as you can save up to 100% on electricity.

We Can’t Forget About the Solar Federal Tax Credit

Households that had solar systems installed last 2019 were able to enjoy 30% tax credit, meaning 30% off of what they paid for the installation. It is highly recommended to take advantage of this as early as you can, as for this year, 2020, the tax credit offered is down to 26%, and by 2021it will decrease to 22%. After 2021, the tax credit for residential solar panel system ends.
This tax credit is non-refundable. So, say for instance that your new solar energy system installation costs $20,000, you earn a credit of $6000. If you have to pay $5000 in federal taxes, you can take credit for just $5000 and carry over the remaining $1000 for the next taxable year, from your solar tax credit.

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