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Solar Incentives in the Valley of Sunny Energy

Did you know that the sun shines in Arizona 296 days out of the year? It’s no wonder it’s called Valley of the Sun. Local homeowners maximize opportunity by living in one of the sunniest states.

26% Federal Tax Credit

The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Don’t wait! The federal ITC steps down to 22% at the end of 2020 and then it’s gone forever.

Federal Solar Step Down

arizona_homes$1,000 State Tax Credit

Renewable Energy Production Tax Credit. An individual or corporate income tax credit is available for taxpayers who own a qualified energy generator that first produces electricity from and after Dec. 31, 2010, and before Jan. 1, 2021, using a qualified energy resource.

SRP Battery Storage Incentive

Salt River Project

Salt River Project (SRP) is offering an incentive as much as $3,600 to homeowners that install battery storage along with their solar system. There are a limited number of these incentives available and they are being allocated on a first come first serve basis.

Your Home Value Goes Up Up Up

Having a residential solar energy system on your home is a ‘capital improvement’ which adds to your property’s value. This means that you can potentially sell your home faster and for more than homes without solar. Your investment in efficient, clean solar power also adds to the tax basis of your home. When you sell the home, this tax basis investment can be deducted from the sales price, reducing the taxable profit on the sale. This may help you avoid capital gains taxes on appreciation.

Zillow Home Solar Value

APS Net Export Rate

This is not always thought of as an incentive and is not as obvious as a tax credit or cash payment but it is quite generous financial incentive. APS is mandated to compensate homeowners that export solar energy at a very attractive rate, which is sometimes higher than what they would otherwise pay for energy generated from other sources.

Sunny Energy Bill

26% Federal Tax Credit

The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Don’t wait! The federal ITC steps down to 22% at the end of 2020 and then it’s gone forever.

Federal Solar Step Down

arizona_homes

$1,000 State Tax Credit

Renewable Energy Production Tax Credit. An individual or corporate income tax credit is available for taxpayers who own a qualified energy generator that first produces electricity from and after Dec. 31, 2010, and before Jan. 1, 2021, using a qualified energy resource.

SRP Battery Storage Incentive

Salt River Project

Salt River Project (SRP) is offering an incentive of approximately $2,800 to homeowners that install battery storage along with their solar system. There are a limited number of these incentives available and they are being allocated on a first come first serve basis.

APS Net Export Rate

This is not always thought of as an incentive and is not as obvious as a tax credit or cash payment but it is quite generous financial incentive. APS is mandated to compensate homeowners that export solar energy at a higher rate than they would otherwise pay for energy generated from other sources.

Your Home Value Goes Up Up Up

Having a residential solar energy system on your home is a ‘capital improvement’ which adds to your property’s value. This means that you can potentially sell your home faster and for more than homes without solar. Your investment in efficient, clean solar power also adds to the tax basis of your home. When you sell the home, this tax basis investment can be deducted from the sales price, reducing the taxable profit on the sale. This may help you avoid capital gains taxes on appreciation.

Zillow Home Solar Value

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