Why Solar Is a Smart Investment
Commercial or home solar installation is great for the environment, as solar panels reduce our collective reliance on fossil fuels, helping to slow climate change. While the environmental benefits are an excellent reason to go solar, they aren’t the only ones. Solar also has many financial benefits and is a great investment for homeowners and businesses in Arizona.
Here’s why you should invest in solar energy for your Phoenix, Cave Creek, or Carefree property:
Save Money on Your Electric Bills Every Month
Solar panels allow you to cut down on your electricity costs and save money every month. With a solar energy system, you’ll be able to generate most of the electricity you need to power your home or business for free, helping you avoid high energy costs.
You can also install solar batteries, which allow you to store the excess electricity your solar panels generate. The energy you store in your batteries can be used to power your home when the sun isn’t shining and your panels can’t produce electricity, further reducing your electricity costs!
Fast Solar Payback Period = High Return on Investment
Solar panel installations have a fast payback period, making them a great investment for homeowners and businesses. Solar panels help you save money instantly, and you should see energy cost savings the same month they’re installed. The money you save on your electricity costs will help you recoup your investment – it is like receiving cash dividends on the life of your system. Solar incentives like the solar tax credit and the APS Residential Battery Pilot will also help speed up your payback period.
Protect Yourself Against Volatile Electricity Rates
Electricity rates are constantly fluctuating, and we’re likely to continue seeing spikes over the next few decades here in Arizona. Solar panels, especially paired with a solar battery backup, will protect you against rising electricity costs and peak demand response charges and lock you into 20+ years of free electricity.
Turn Your Electricity Bills into a Fixed Expense
It’s always easier to budget around fixed expenses that stay the same every month. When you’re buying electricity from a utility company, this is nearly impossible to accomplish because rates are constantly changing. With solar panels, your electricity bills will be a fixed expense, making it much easier to create budgets and plan for the future.
Keep Your Power On During an Outage
The future possibilities of solar energy with battery storage are bright. During the day, your solar panels will often generate more electricity than you can use. The excess power can be stored in solar batteries, and you can use that energy to power your home or business when the grid goes down.
If you have a solar battery, you’ll also be able to temporarily disconnect your solar energy system from the grid during an outage so that it can stay operational while the power is out (grid-tied solar systems that do not have batteries are automatically shut down during a power outage).
Take Advantage of Government Solar Incentives
Many people worry about how much solar panels cost and believe solar panels are too expensive for them. Solar incentives can greatly reduce the upfront cost of a solar installation and help you speed up your payback period. Some of the best solar incentives available to Arizona residents include:
- Investment Tax Credit (ITC) – a federal tax credit worth 26% of the system’s cost
- APS Residential Battery Pilot – a home solar battery incentive worth up to $3,750
Solar energy systems are also exempt from sales tax in Arizona (some restrictions may apply) and will not affect your property taxes.