Tax incentives and rebates

In addition to the 30% federal tax credit under the Inflation Reduction Act, Paradise Valley residents are eligible for a:

1. 25% tax credit (up to $1000) for home solar systems purchased in Arizona.
2. Property tax exemption on the appreciated home value on account of solar panel installation.
3. 5.6% state sales tax exemption on solar equipment.

Boost property value

Energy-efficient homes appreciate $20 in value for every dollar you save on energy bills. For instance, a yearly saving of $400 on electricity can result in an increase of up to $8,000 in your home’s value. Additionally, buyers are also willing to pay almost 4.1% more than the market value for homes with solar panel installations.

Long-term energy savings

Solar panels can save you a significant amount, and after a certain period, they pay for themselves. Here are some numbers to shed light on long-term energy savings with solar panel systems in Paradise Valley, AZ:

1. Average monthly electricity consumption: 1,650 kW
2. Average electric rate: 15 ¢/kWh
3. Average monthly bill: $255
4. Solar system buyback period: 7.66 years
5. Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $49,293 (assuming a 2.1% increase in annual rates and $0-down loan)

In the short term, Arizona’s net billing and solar buyback initiatives can help you earn bill credits to reduce your immediate energy costs.

Environment friendly

Going solar is the easiest way to reduce your grid and fossil fuel reliance, contributing towards a greener and sustainable future while aligning with Arizona’s net-zero goals.