Going Solar Incentives

In the last decade, thousands of homeowners all across the country have put up solar panels on their homes. With an increasing number of homeowners choosing to use solar to power their homes, you may be thinking about the option of adding a solar energy system to your home.

The Residential Solar Tax Credit, also known as The Residential Arizona Solar Tax Credit, reimburses you up to 25 percent of the total cost of your solar panel system, up to $1,000, right off of your personal income tax in the year you install the system.

The Federal Investment Tax Credit (ITC) allows you to deduct 26 percent of the total cost of the installation of your solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. ITC has generally been considered the best solar incentive out there because if the tax credit is greater than your total income owed, you will receive that money back in the form of a tax refund.

The Solar Equipment Sales Tax Exemption, also known as the Arizona Solar and Wind Equipment Sales Tax Exemptions, covers 100% of the cost from the sales tax from your solar panel system’s equipment. This also includes 100% coverage of its purchase and its installation as well.

Arizona residents have some of the best conditions in the country for investing in solar energy systems. With 300 days a year of sunlight and some of the best solar incentives in the nation.

If this appeals to you and you would like to learn more about these financial incentives and how Bright Home Energy can help, give us a call today.