Are Solar Panels the Answer to High Summer Electric Bills?
In March of this year, APS announced a rate increase of roughly 8% that will impact homeowners and businesses in their service area. Summers in Phoenix are notoriously brutal and this hike in electricity rates could be an issue for many residents as they try to keep cool during the hottest days of the year. Luckily, solar energy could provide some relief by offsetting your electricity costs.
SouthFace Solar & Electric is a high-performance residential and commercial solar installer proudly serving Arizona. We offer customized solutions with our simple and unique process that can help lower your summer electric bill and reduce your reliance on the central grid system—here’s how it works:
How Solar Panels Help You Save Money
Solar panels convert sunlight into electricity, which you can then use to power any electrical appliance in your home, such as an air conditioner. Having a reliable cooling system is essential for Arizonans, where temperatures regularly go into the triple digits during the warmer months. Since both air conditioners and heat pumps run on electricity, this means that during the summer, when electricity usage is at its highest, solar panels can significantly reduce or even eliminate your electricity bills.
In addition to the electric bill savings that come with converting to solar energy, installing solar panels on your home or business can also save you money by:
- Protecting you from future rate increases – Most of the electricity generated by the grid comes from burning fossil fuels and the price is subject to change with the volatile market. However, solar energy comes from the sun, which is always free and in bountiful supply throughout Arizona.
- Increasing your property value – In a 2019 study conducted by Zillow, homes with solar panels sell for an average of 4.1% more than comparable homes without a solar energy system. But don’t worry, in Arizona your property value will go up with solar panels, but not your property taxes.
- Providing electricity for 25+ years – Solar panels will pay for themselves over time and most installations will see a return on their investment in under ten years!
The Solar Tax Credit: Making Installation More Affordable
Solar panel installation is an investment that will easily bring a ROI throughout its lifespan, but the upfront cost is still high for many. The solar tax credit, also known as the Investment Tax Credit or ITC, is an incentive available to both homeowners and businesses that reduces the amount of federal taxes you owe by 30% of the cost of installing solar panels and battery storage. If the federal tax credit lowers your tax liability to zero, the remaining balance will roll over to the following year.
Customized Solar Solutions from SouthFace Solar
With more than 35 years of combined experience, our team can help you maximize your solar investment. The exact amount you can save on your electricity bill depends on several factors, including the size of your solar panel system, your energy consumption, and the amount of sunlight your panels receive, which means that there’s no “one size fits all” method to installing solar panels. This is why SouthFace Solar specializes in providing personal attention to every job.
Whether you’re interested in going fully off-grid, need ground-mounted solar panels, or simply want to lower your electric bills, we can custom design a solar energy system that meets your needs using top-tier panels and products. Ready to see how solar energy can help your home or business?
