Long-term energy savings

Solar power can help save a significant amount in energy bills, and after a given time, the system pays for itself –

1. Electricity rate: 15.0 ¢/kWh in Arizona.
2. Average monthly bill: $224 for a household consuming 1,479 kWh.
3. 25-year cost: $67,200 over 25 years (not assuming the inflation and increase in electricity rate).
4. Solar panel system payback period: 7.53 years.
5. Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $61,600.

Environment friendly

Residential and commercial solar panel installations in Mayer, AZ, can help lower greenhouse gas emissions. As a consumer, your decision to go solar is crucial in helping mitigate the effects of climate change.

Cost-effective tax incentives and rebates

Residents of Mayer, Arizona, are eligible for the following tax incentives and rebates on residential solar panel installation –

1. Arizona Residential Solar Energy Tax Credit: Reimbursement of 25% of the solar panel cost – up to $1,000 – on personal income tax.
2. Inflation Reduction Act: Federal tax credit of up to 30% against the cost of the solar panel system.
3. Sales tax exemption of 5.6% on the cost of the solar panel system.
4. No additional property tax on the value solar panels add to your home.

Appreciation in the property value

The value of your property in Mayer, AZ, can potentially rise by $20 for every $1 residential solar installation, which helps save on energy bills. Moreover, homebuyers in Arizona are also willing to pay an additional 4.1% for properties with solar panels.