Tax incentives and rebates

The different tax incentives and rebates Palo Verde residents can qualify for include a 30% federal tax credit, a 25% state solar tax credit (capped at $1000), sales tax exemption, and property tax exemption for residential solar panel installation.

Boost property value

For every $1 you save in energy bills, the value of an energy-efficient home appreciates up to $20. Additionally, homes with residential solar panel installation also fetch 4.1% higher than market value from prospective buyers.

Long-term energy savings

The long-term saving potential of residential and commercial solar installations is tremendous, and the systems pay for themselves over time. Here are some numbers demonstrating the saving potential of solar panels in Palo Verde, AZ:

1. Average monthly electricity consumption: 1,500 kW
2. Average electric rate: 15 ¢/kWh
3. Average monthly bill: $229
4. Average 25-year cost: $81,500 (not assuming the inflation and increase in electricity rate)
5. Solar system buyback period: 6.88 years
6. Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $44,555

Moreover, the net billing program also allows Palo Verde residents to lower their utility bills in the short term by selling excess electricity from their residential solar panel installation to local utility companies.

Environment friendly

Solar energy is inherently environment-friendly and is one of the most accessible and convenient alternatives to fossil fuels. By going solar, you are not only reducing your carbon footprint but are also contributing to Arizona’s net-zero emission goals.