Tax incentives and rebates

Several tax incentives and rebates are available to Skull Valley residents on opting for residential solar panel installation, including a 30% federal tax credit under the Inflation Reduction Act and a 25% state solar tax credit (up to $1000) under the Arizona Residential Solar Energy Tax Credit. Additionally, owners can enjoy a 5.6% sales tax exemption on solar equipment purchased in the state and a property tax exemption on the value solar panels add to the property.

Boost property value

Energy-efficient homes boost in value by up to $20 for every $1 saved in energy bills. Additionally, prospective home buyers are also willing to pay 4.1% higher than market value for properties with residential solar panel installation.

Long-term energy savings

Residential and commercial solar panel installations have a tremendous long-term energy-saving potential, and the system pays for itself over time. Here’s how much you can save with solar panel installation in Skull Valley, AZ:

• Average monthly electricity consumption: 1,455 kW
• Average electric rate: 15 ¢/kWh 
• Average monthly bill: $220
• Average 25-year cost: $78,400 (not assuming the inflation and increase in electricity rate).
• Solar system buyback period: 6.84 years
• Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $35,768

The net billing initiative – allowing residents to sell excess electricity from their solar panel installations to local utility companies – can help Skull Valley residents lower their utility bills in the short term.

Environment friendly

Opting for solar power can not only lower your carbon footprint and lead to a sustainable lifestyle but also contribute to environmental conservation and assist Arizona in reaching its net-zero emission goals.