Despite solar panels being a decades-old technology, the growing enthusiasm surrounding solar power is becoming more prevalent every day. As this energy solution becomes more widely available to homeowners, more questions are popping up about affordability and whether they’re a good idea.
While solar installation is undoubtedly a big decision and a significant investment, the verdict you’ll find everywhere is that it’s an excellent investment for nearly every home.
How Much Do Solar Panels Cost?
The biggest question on most homeowners’ minds is how much of an investment they’ll be expected to make in their new solar panel system. In Arizona, you’ll pay about 52% less for solar equipment today than you would have 10 years ago.
A 10kW system to power a home of 1,500 square feet is an average of just over $26,100, while a 15kW system to run a 2,500 square foot home averages a little more than $39,000.
While the numbers may seem daunting, don’t forget that you can take advantage of the federal tax credit that covers up to 30% of solar installation — and Arizona provides a credit with a maximum that can take another $1,000 off the system cost.
The state also provides a property tax exemption on your increased home value and an equipment sales tax exemption to sweeten the deal. In other words, going solar is more affordable than ever.
What Is the ROI on Solar Panels in AZ?
One of the differences in calculating returns with solar is that there’s no waiting around for your investment to start paying off. The second you switch on your solar energy system, you’re already recouping the money you would have paid toward your electric bills.
Another factor is that homes in Arizona use significantly more power per month than homes in other states due to intensive heat, upping air conditioning use. For that reason, solar panels replacing grid use will provide a higher ROI than in most other areas.
On average, you can expect your solar panels to finish paying for themselves in six to 10 years. Factor in that they’ll keep saving you hundreds on electricity for their life span of anywhere from 25 to 40 years (depending on the quality of your panels), and it’s clear that going solar is worth it.
With financing options also available, solar power is accessible to homeowners on a wide range of incomes.
Schedule Solar Panel Installation Today
If you’re interested in going solar and learning more about the factors that will affect your ROI, Independent Solar is here to help. Serving all of Arizona, we have the expertise to offer an unbeatable guarantee for the lowest cost per watt in the state. We’ll meet or beat any competitor’s proposal and even throw in $1,000 cash back after you go with us for installation.
Call (480) 569-6903 to request a free estimate and start your journey to clean, independent solar energy.