Long-term energy savings

A commercial or residential solar panel installation has the potential to save a significant amount in energy bills and, after a given time, pays for itself –

1. Electricity rate: 17.0 ¢/kWh in Vail.
2. Average monthly bill: $248 for a household consuming 1,479 kWh.
3. 25-year cost: $74,400 over 25 years (not assuming the inflation and increase in electricity rate).
4. Solar panel system payback period: 5.71 years.
5. Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $48,966.

Environment friendly

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

Cost-effective tax incentives and rebates

Residents of Vail, 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: 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 Vail, AZ, can potentially rise by $20 for every $1 saved on energy bills through the solar panel system. Homebuyers in Arizona are also willing to pay an additional 4.1% for properties with solar panels.