Solar panels can be valuable assets and can increase property value significantly. Solar-panelled homes also attract buyers who may be ready to pay a premium price. Solar panels help with long-term energy savings and lay the opportunity of reselling your property at a higher price.

Long-Term Savings

With short-term savings on utility bills and net metering, a residential solar installation pays for itself in the long run.

1. Electricity Rate: 15 ¢/kWh in Arizona.
2. Average Monthly Bill: $229 for a household consuming 1,500 kWh.
3. 25-Year Cost Equals: $81,500 over 25 years (not assuming the inflation and increase in electricity rate)

Tax Incentives

The federal government provides a 30% tax credit on solar panel installation costs. The state government also offers a lower of 25% tax credit or $1,000 on installation cost and a 100% exemption on the sales tax of solar equipment.

Increased Property Value

A property with solar panels is eligible for a 100% tax exemption on the appreciated value of the property because of solar panel installation. Such properties also sell 20% faster than the ones with no solar panels.

Environment Protection

Arizona holds the 5th position for solar panel installations, and it targets to switch 25% of its energy reliance on solar energy by 2025. It aligns with the Environmental Protection Agency’s Clean Power Plan aimed at reducing the States’ global warming pollution by 30% below 2005 levels by 2030.