The Top 7 Reasons Why Home Solar in Phoenix Is a No Brainer in 2022
If you are considering home solar in Phoenix and a backup battery system, you will be pleased to know that the timing couldn’t be better. Rooftop solar panels and house solar batteries are now more readily available, less expensive than they’ve ever been, better quality, and more effective in producing power than ever before. In this brief article, we have compiled the top 7 reasons why home solar in Phoenix is an absolute no-brainer.
Although there have been years past where solar tax incentives have been higher, the price of equipment was also higher. In combining all of the key points below, it is clear that 2022 is the best year to get the most affordable pricing on solar. That said, we are in a pivotal time frame where that may be changing and prices could drastically increase very soon.
- The federal solar tax credit is now 30% until 2032. But being the Inflation Reduction Act which recently increased and extended the federal solar tax credit is largely a democratic-backed initiative, it is quite possible that it could be overturned should the opposing party take office once again.
- Prices on solar panels and equipment have dropped over the years, they’re at an all time low.
- Issues in our global supply chain as well as rising inflation in the US are causing prices to begin to increase.
The top 7 reasons why Phoenix residential solar panel installation and solar battery backup is a great choice for Arizona homeowners
1. Home solar allows you to gain control over electricity rates and protect yourself from rising costs
Home solar in Phoenix alongwith solar battery backup storage can help provide you with independence from utility providers by giving you predictable electricity bills – or lack thereof! This saves you money on peak energy prices and offers dependable backup power in the event of grid failure.
Solar financing agreements can offer low and predictable rates that are typically less expensive than your electric company’s rates, so you can expect, on average, to pay less for power when you go solar. Electricity costs nationwide have increased by 15% over the past ten years, and continues to trend upwards, especially when accounting for inflation.
In certain regions, solar-powered batteries may also protect you against Time-of-Use (TOU) tariffs, which are peak electricity prices. Electricity is more costly during hours of peak demand and less expensive during periods of low demand. These prices are established by your local electric provider and fluctuate depending on the time of day. You may further maximize your energy savings by avoiding the most costly charges under a TOU rate structure by installing a rechargeable home solar and battery system.
Solar-powered home batteries will help protect you from the increasing number of power outages. Did you know, the United States now suffers the most power outages per minute of any industrialized country? And this figure will only rise as a result of harsh weather conditions, an aging power system, and an overall strain on the power grid worldwide because of increased electricity demands over recent years. Furthermore, our own Homeland Security warns of possible electric grid attacks. Solar battery backup solutions from Watt Masters keep your home powered throughout the night when the sun has set, and restores power in the event of an outage, eliminating the hassle, risk, unpleasant sound, and cost of maintaining a gas or diesel-powered generator.
2. Home Solar in Phoenix Raises the Value and Demand of Your House
The rise in property value is another benefit of residential solar. Solar panels typically increase a home’s value by 4.1% nationwide. That implies that a house worth $500,000 may grow by $20,500.
Recent studies indicate an average gain in resale value between $4,020 and $5,911 for each kilowatt of solar panels added. The average home solar panel system in Arizona is between 6 to 10 kilowatts. Exact figures vary depending on the type of installation, size of the property, and each homeowners electrical usage.
In most cases, the cost of a typical rooftop solar system and battery is recovered in the home’s selling price. Additionally, homeowners who invest in solar are rewarded with decreased energy expenses and favorable tax benefits that may more than offset the cost of the system throughout its warranty.
A solar-powered home’s length of time on the market often varies by location of the nation. Your house will sell 20% more quickly if you have a solar energy system than one without one.
Installing house solar panels is a wise investment, as the statistics demonstrate. Property prices often rise dramatically, whether you’re renovating your house for a future sale or making it your permanent residence.
3. Receives tax benefits and financial incentives
Although some people choose to purchase their systems entirely, many homeowners choose to purchase solar panels and batteries using solar financing from a qualified solar installer. This entitles them to enjoy the system’s advantages for only a small monthly fee. Depending on where you live, you can cover a significant portion of the cost of your solar PV system and may even pay it back in a relatively short time thanks to the federal solar tax credit, local rebates, net metering, and other incentives. The average cost of home solar in Phoenix is approximately $16,000 – $22,000.
Home solar system owners may benefit financially from using solar renewable energy credits, or SRECs. A Renewable Portfolio Standard (RPS) mandated by certain jurisdictions mandates electricity providers to get a part of their energy from renewable sources, such as rooftop solar. Electric companies may purchase solar credits from home solar energy installations to satisfy the RPS. An aggregator like SRECTrade, which combines SRECs and sells them to the electric utility, allows owners of home solar systems to sell SRECs.
In some cases, your home solar panel system will generate more power than you need. In this case, the excess electricity is transmitted back to the grid and must be purchased by the electric provider. When overproducing energy and selling it to the utility company, not only with you reduce your overall electric costs even more, but in some cases you’ll end up with credit on your bill rather than owing anything at all! Additionally, they may use this energy credit on days or at night when their power needs are higher than what their solar panel system was able to produce.
Solar Federal Investment Tax Credit (ITC)
As of 2020, if you purchase your home solar panel system altogether, you’ll also qualify for the federal tax credit. The cost of a solar installation may be reduced by the tax credit by 26%, which includes the cost of solar battery purchase. If you buy a 6-kilowatt system for $18,300, you’ll pay $12,810 after you get your tax credit.
But don’t wait any longer! In 2023, the federal solar tax credit is expected to decrease, and the tax benefit is expected to disappear in 2024! Thus, now is the ideal moment to switch to solar power.
Cash rebates and State Tax Credits
States and communities may also provide cash incentives for your solar system in addition to the federal solar investment tax credit to further lower the cost of your solar system. Each state will have a different solar tax credit amount. Find tax credits and rebates offered in your region by visiting the Database of State Incentives for Renewables & Efficiency (DSRE).
Performance-Based Reward Systems (PBIs)
Performance-based incentives, or PBIs, could also be used by your state or the energy provider. You get credits from a PBI for the power your solar system generates. A PBI is paid depending on the energy your solar system produces over time rather than paying you upfront. The incentive rate is decided when your system is built. A typical kind of PBI is a feed-in tariff (FIT).
Reduce or Eliminate Taxes
Sales tax or real estate exemptions may also be available from your state or municipality. Property tax exemptions are valued by households. You’ll gain even more value for your money if you decide to move since purchased solar systems often boost the value of your house by 4-6% on average. Depending on your state’s sales tax rate, a sales tax exemption might result in significant savings if you opt to buy your solar system.
4. Costs have decreased.
In the past ten years alone, the cost of residential solar systems has decreased by more than 70%. The cost of house solar batteries has also decreased significantly.
Even while prices are down, out-of-pocket charges may pile up. To make renewable energy accessible and affordable for everyone, Watt Masters provides home solar financing with $0 down options. Additionally, your system is engineered to last a lifetime thanks to the Watt Masters Workmanship Guarantee. There is no doubt that we need renewable energy sources, such as residential solar, to maintain clean air, have consistently reliable electricity, and safeguard our communities.
5. Make a positive impact on the environment with sustainable, clean energy
Solar energy generated at home is clean, renewable, and emission-free. Home solar energy doesn’t emit dangerous pollutants or greenhouse gases, such as carbon dioxide, into the air or water supply, unlike fossil fuels like coal and natural gas.
A home in New York that transitions to renewable sources like solar panels may remove the equivalent of burning almost 5,000 pounds of coal and the related carbon emissions. Generally speaking, by using solar rather than our traditional energy sources, we can save $167 billion in negative health and environmental impacts, and save more than 25,000 lives!
The potential for home solar in Phoenix is enormous. Minimize your carbon footprint to help reduce harmful emissions from using fossil fuels. If we could harness all the solar energy on the earth for just one hour, we could power the whole planet for a full year. Technologies based on renewable energy are essential for a cleaner and more promising future for everybody.
6. Cut Back on Carbon Footprint
Although everyone is aware that solar panels are a part of the green movement, how much of an influence do they have on the environment? Let’s look at the most common residentail solar setup:
- Eliminate the burning of 80 tons of coal by soaking in free energy from the sun
- Prevent 175 tons of CO2 from entering the atmosphere
- It’s the same as growing 4,000 trees!
As you can see, by installing home solar in Phoenix you can make a massive positive impact, and installing them is one of the best ways to help the environment, if being green is important to you (as we believe it should be for everyone!). It is empowering to know that you have made a significant contribution to your home’s sustainability. Tens of thousands of Americans have switched to solar energy because of the environmental benefits alone!
7. Solar Energy Can Generate Income
Solar energy may make you money in addition to saving you money! How?
- Net metering initiatives
- Federal tax breaks
- Deductions for state taxes
Net metering systems in several jurisdictions enable households to return any unneeded power to utility providers in exchange for energy credits. These credits may be accumulated to the point that the utility provider will compensate the homeowner for their unused credits, or they can be utilized during a less busy period of the year. Even while these credits are unlikely to build up too much money, they may nevertheless influence daily life. And receiving payment from your utility provider after years of paying exorbitant energy bills is one of the best feelings in the world!
Additionally, you will be eligible for a federal tax credit when you own your solar system. The federal government allows homeowners to deduct 26% of the price of rooftop solar panel installation in 2022. Additionally, a lot of states enable solar-powered homes to deduct state income taxes. We will guide you through the incentive process to help you maximize the tax benefits of your solar system, since these tax advantages are substantial but are often confusing for most people. Additionally, we’re always accessible to respond to your inquiries. We are here to simplify your life as much as we can!
Watt Masters can assist you with all aspects of solar energy, including solar system design, solar panel installation, monitoring, and maintenance. You can trust that your home solar installation is in excellent hands since Watt Masters doesn’t it’s installations like other contractors do, so you can rest assured that you’re getting quality solar installation and workmanship built to last a lifetime.
Request a Free Quote Now
Get a free quotation from Watt Masters now to learn more about why Americans all across the nation are benefiting from home solar energy. You will love our experienced and knowledgeable team assisting you throughout every stage of the process.