At any given point in time, if you web search through different photos of Arizona almost all of the photos display a sunny sky. Arizona’s dry heat and sunny days allow for it to be the perfect location for you to switch to solar power. However, these powerful sunny days are just a small perk of your solar power in Tempe, Arizona. Some of the larger perks come from the variety of ways that solar power can save you money based on your state. Here is just a few of those ways to help you decide if going solar is your next move in 2020.
- Tax Credits
Every resident in Arizona that installs solar panels is eligible for a 25% tax credit. 25% of the total system cost, or $1,000, I used toward your state income tax. This is your State Tax Credit. Furthermore, there is also the Federal Solar Tax Credit. The Federal Solar Tax Credit allows for you to earn up to 26% of the installation costs of your solar panel system. With this in mind, there is no cap on the Federal Solar Tax Credit, unlike the State Tax Credit, and there is no deadline for when you can claim the Federal Solar Tax Credit. These two tax credits are a great incentive for your solar system installation in 2020 this tax season.
- Tax Exemptions
The benefits and savings that arise from switching to solar go far beyond just tax credits. An important part to remember about your solar panel installation in Arizona is the benefit of the increased value of your home. However, you may already be thinking and panicking about the increase in taxes on your home because of the increase in value. We are here to tell you that your taxes will not increase because of your panel installation. This is all possible because of the Solar Property Tax Exemptions. With this, the pricing of your solar installation is also exempt from any additional sales tax. Your state legislatures recognize the good choice you are making and believe that you should not be punished for this great choice to switch. These exemptions are just a small benefit when switching to solar.
- Electricity Savings
The final, but most prominent saving that is created when switching to solar is the amount of money you will save on your electricity bill. Arizona holds the spot for the being ranked as having the nation’s 15th highest electricity prices. However, as prices continue to increase, so does Arizona’s place in the ranking. Over the course of 25 years, you could save up to $40,000 by switching to solar. If we break this down even further, you could save up to 20% on your monthly electric bill. Your clean energy is filling your pockets, while allowing the sun to do its job and safely power the world.
If you’re ready to learn more, contact Vision Solar today. We’ll provide a free quote and schedule a comprehensive assessment to help begin the process, so you can take advantage of clean, green energy from the sun.