The rising cost of electricity has left homeowners throughout Arizona searching for a cost-effective alternative. Many are considering whether it’s time to make the switch to solar panels. This alternative energy source isn’t just for the very wealthy anymore! Initially, solar panels were too costly for most homeowners. However, prices have gone down significantly in recent years as they’ve become more popular. Solar panels can practically pay for themselves within in as little as five years. The U.S. Congress has even extended a significant federal tax credit for switching to this alternative energy source. But is solar right for your home? Follow these five tips to decide if it’s time to invest in solar panel installation in Scottsdale, AZ:
- Evaluate your sunlight exposure: The first step is to determine whether there’s enough sun readily available to support solar panels. That’s a no-brainer in sunny Arizona. The Grand Canyon State averages more sunlight hours per day and more sunny days throughout the year than most other states. This means it’s the perfect place for solar panels! You also need to take into consideration how your home is oriented toward the sun. A house shaded by trees or other buildings might not see the same output.
- Figure out the cost savings: Solar panels are more valuable to homeowners who live in areas with high electricity rates. Pull out your old monthly energy bills to evaluate the cost. The higher the bill, the more you’ll benefit from solar panel installation in Scottsdale, AZ. Be careful not to confuse high energy cost per kilowatt with high energy usage. Families that use an above-average amount of energy won’t see as dramatic a reduction with solar panels.
- Estimate cost: Installing solar panels does require an initial investment. The average residential system typically runs about three to five dollars per watt—approximately $15,000 to $25,000 for an average-size home. Luckily, tax credits and incentives can help alleviate the upfront costs. Typically, the solar panels pay for themselves in as little as five years and will save upwards of $9,000 in the long run. Most systems require minimal maintenance and will last up to 20 years.
- Watch out for incentives: The government is currently offering sizable incentives for installing solar panels. New installations could qualify for a federal tax credit that allows homeowners to claim up to 30 percent of the installation cost through 2019. The credit is expected to decline over time. After 2019, the tax credit will drop down to 26 percent in 2020 and 22 percent in 2021. The credit will stop entirely after 2021.
- Get multiple estimates: Plan to get multiple estimates anytime you invest in a new home improvement. Take the time to sit down with at least three different companies to learn how they install the equipment, what they estimate in utility cost savings and about any warranties they offer.
Ready to invest in solar panel installation in Scottsdale, AZ? Call Aneva Solar today to learn more about our high-quality solar system installation.