When sunlight illuminates, electricity flows from solar panels through wires to an apparatus known as an “inverter.” This device transforms the direct current (DC) electricity generated by the panels into the specific type of power utilized by your household, called alternating current (AC). Once the inverter accomplishes this conversion, the electricity continues its journey via a dedicated wire to your home’s electrical panel. At this juncture, any surplus electricity generated by your solar panels is channeled back through the power lines and fed into the utility company’s power grid.
There are a number of ways to finance a solar system for your home or business. Paying for it with cash or a loan means that you’ll own the system and will be able to claim the 30% federal Investment Tax Credit and other incentives. Your energy savings may be able to pay for the system in a few years.
Another very affordable way to finance your money-saving solar system is a lease. There are no upfront costs. In most cases, our leases do not require a minimum credit score. You pay a monthly ‘rent’ for your system that is lower than your current energy bills. With a lease, you avoid ever-increasing electricity bills — you will have predictable, stable energy costs.
For those who own their Solar Systems, there are a number of incentives:
The Investment Tax Credit (ITC) allows you to reduce the cost of your PV solar energy system by 30 percent through a tax credit on your federal income tax. It applies only to those who buy their PV system outright (either cash or a loan), and you must have enough income for the tax credit to be meaningful.
The Residential Arizona Solar Tax Credit reimburses you 25 percent of the cost of your solar panels, up to $1,000 off of your personal income tax in the year you install the system.
With the Solar Equipment Sales Tax Exemption, you aren’t required to pay any sales tax on the purchase of your solar system.
Similarly, the Energy Equipment Property Tax Exemption means you won’t have to pay any additional property taxes on the value you are adding to your home by investing in solar panels.
When you choose Sun Energy Today, you can expect a truthful evaluation of your solar potential and access to the finest products available in the market. Our knowledgeable team will enlighten you on the significance of technology in addressing the seasonal impacts and ensuring optimal performance of your solar system, which is particularly crucial for homeowners in Arizona. The evidence lies in the meticulous attention we pay to every detail. Allow us to assist you in exploring your solar options and selecting the perfect system for your distinctive home.
The process of going solar involves various organizations, including government bodies, city authorities, HOAs, and utility companies. Our primary objective is to navigate this process in the most efficient manner possible. Due to the involvement of multiple representatives and agents from external organizations, it is challenging to provide an exact timeline. However, in general, most solar installations are completed within 60-90 days from the moment the contract is signed.