Solar Power Rebates Arizona

The federal solar tax credit gives you a dollar for dollar reduction against your federal income tax.

Solar power rebates arizona. Rebates can help to further reduce your system costs by 10 to 20 percent. The 30 tax credit applies as long as the home solar system is installed by december 31 2019. Residential arizona solar tax credit the residential arizona solar tax credit reimburses you 25 percent of the cost of your solar panels up to 1 000 right off of your personal income tax in the year you install the system. This credit offers 25 off the gross cost of the system up to a maximum credit of 1 000.

You can get a lump sum payment or your installer will take the amount off the final installed price. Arizona has a state rebate program. Arizona has a solar tax credit too which will take another 1 000 off for a new total of 18 048. After the tax credits we subtract your first year s energy savings which we estimate to be about 1 576.

In addition to arizona s solar incentives you ll be eligible for the federal solar tax credit if you buy your own home solar system outright. Arizona and massachusetts for instance currently give state income tax credits worth up to. These include a renewable energy production tax credit on electricity generated by qualified solar pv and solar thermal electric energy systems a minimum of 5 mw. Depending on the rebate program the utility may reimburse the system based on how many kilowatt hours the system is anticipated to produce over a 20 year lifespan.

Many states also offer tax credits for solar. A nonrefundable individual tax credit for an individual who installs a solar energy device in taxpayer s residence located in arizona. That reduces your cost after the first year to only 16 472. Rebates require paperwork to be filed.

Some will continue even after the federal credit expires. There are several arizona solar tax credits and exemptions that can help you go solar. Rebates are generally available for a limited time and end once a certain amount of solar has been installed. Many utilities in arizona offer rebates or payback programs to customers who install solar or wind power generating equipment on their property.

Solar renewable energy certificates srecs legislation in some states requires utilities to generate a certain percentage of their electricity from solar power.