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Don't Install Solar Panels in Arizona, Until You've Seen this ROI and Savings Report

By: Home Otter Team

Sep 7th 2022

Time: 10min

Learn about the potential return on investment for installing solar panels in Arizona.

Arizona is known for its sunny days, making it a great place if you're considering going solar. The Solar Energy Industries Association ranks Arizona 17th in the nation for installed solar capacity with 1,240 megawatts.

Arizona also ranks highly in installed solar capacity per capita. The state ranked 3rd in 2015 and 2nd in 2016 behind California. As an Arizona resident, solar panels can save you BIG on your monthly electric bills. But here's what you should know before installing panels.

What Incentives Are Available for Homeowners Who Install Solar Panels in Arizona?

Arizona residents considering going solar may worry about the prospect of high upfront costs to install panels. However, several incentives could substantially offset your initial investment to go solar.

For example, the federal government offers a 26% tax credit for going solar.

Likewise, Arizona provides the AZ Solar and Wind Equipment Sales Tax Exemption and the SREC credit for residents who install solar panels. Some electric providers may offer additional incentives for going solar.

Download your complimentary solar report today to find out what incentives may be available to you.

Net Metering Policies in Arizona

You're a homeowner in Arizona thinking about solar but aren't sure whether net-metering is even allowed.

Arizona is one of the few states that does not participate in net metering. But not to worry, electric providers in Arizona offer an arrangement called net-billing.

Net billing works similarly to net metering. However, instead of allowing you to send excess electricity back to the grid for a billing credit, your electric provider will bill you for your net usage.

To see what this might look like for you and your family, download our helpful custom solar report for Arizona homeowners.

What's the Payback Period for Solar in Arizona?

Homeowners in Arizona considering solar may be wondering about the payback period.

There is no one-size-fits-all answer to this question, as the payback period can vary depending on multiple factors. These include:

  • The amount of sunlight your home receives.
  • The direction your roof faces.
  • The energy costs in your area.

However, Arizona homeowners can expect a payback period of between 5 and 10 years.

What Are My Options When It Comes to Financing Solar Panels?

You can lease, borrow, or purchase solar panels outright - with cash. With leasing, you have low or no upfront costs.

You may be eligible for state and federal tax credits if you borrow. You could also use cash to purchase your panels, in which case you might be able to take advantage of various tax incentives and own your equipment from day one.

You have options when it comes to solar panels. So, consider which approach makes the most financial sense for you and your family.

If you'd like, you could even get a few ballpark estimates by downloading your complimentary solar report - customized to your needs.

Electricity Bill Savings on Solar Panels in Arizona

Solar panels can help you save a good portion of your electric bill! The average household in Arizona can save anywhere from 20% to over 70% on their electric bill by going solar.

The size of your solar panel system, the amount of sunlight your home receives, and your electricity rate will all affect how much you save. Solar panels can last for 20 to 25 years, so you can enjoy significant savings for many years.

In addition to the immediate savings, homeowners also benefit by locking pricing in at today's rates. Doing so allows you to avoid any future price increases your electric provider may levy on residents.

To get a better idea of what you stand to save by going solar, download your complimentary personalized solar report today.

Does Your Home Qualify for Solar Panels?

Many homeowners - here in Arizona - love the idea of saving money by installing solar panels but are unsure if their homes will qualify.

For example, if your roof gets shade from nearby trees or your home isn't south-facing, it's tempting to conclude solar panels aren't an option.

However, several other factors could make your home a terrific candidate for solar panels. Find out where your home stands by accessing our complimentary custom report on solar.

What Does the Solar Installation Process Involve?

The solar installation process involves multiple steps but is generally quite simple.

  1. You get a quote from a local solar installer.
  2. Upon approving the quote/agreement, the installer may visit your home to confirm your roof is suitable for solar panels.
  3. If it passes the suitability test, they'll schedule the installation.
  4. Next, the crew completes the installation and connects the panels to your electrical system.
  5. Then they test the system to make sure it's working correctly.
  6. Finally, your electric provider must complete an inspection to ensure everything is up to spec.

Once done, you'll be able to begin using your panels to generate electricity and savings for your home!

Find Out What Type of ROI Payback Your Home Qualifies For

Are you interested in saving money on your energy bill and potentially increasing the value of your home?

Solar panels are a great way to achieve these goals. However, it's essential to do your research to find out what type of ROI you can expect before investing.

Your complimentary personalized solar report will help you understand what ROI you can expect from solar panels. Get your report today to see how much you can save by going solar.