Long-term energy savings

Solar power saves a significant amount in energy bills and after, a given time, pays for itself –

1. Electricity rate: 11.78 ¢/kWh in Williams.
2. Average monthly bill: $158.43 for a household consuming 1,345 kWh.
3. 25-year cost: $47,530 over 25 years (not assuming the inflation and increase in electricity rate).
4. Solar system buyback period: 7.53 years
5. Average 20-year savings (accounting for solar installation costs, federal tax credit, and inflation): $70,100 (assuming a 2.1% increase in annual rates and $0-down loan)

Environment friendly

Solar energy generates electricity without emitting greenhouse gases, reducing the carbon footprint of traditional fossil fuels. Additionally, solar energy mitigates climate change by harnessing the energy of the sun.

Cost-effective tax incentives and rebates

Residents of Arizona are eligible for the following tax incentives and rebates on solar power installation –

1. 25% off the cost of solar panels (up to $1,000) as reimbursement from personal income tax.
2. 30% off the cost of the solar energy system as a Residential Clean Energy Credit.
3. No sales tax on the purchase of solar energy systems.
4. No additional property tax due to the increase in the value of the home due to solar panels.

Appreciation in the property cost

Energy efficiency and sustainability of solar panels increase the property value by up to $20 for every $1 you save. Buyers are willing to pay 4.1% more for properties with solar panels. By using the solar tax exemption, you can also lower the initial investment.