APS is poised to lower their solar payback as the Arizona Corporation Commission nears their annual APS buyback hearing. If the ACC approves APS’ proposal, solar-qualified homeowners will see a 10% decrease in solar buyback. However, homeowners this month are in a great position to be grandfathered at the current buyback rate for the next 10 years. Rooftop Solar can compare what you are currently paying APS to what you could save with solar before the August 31st deadline.
August is a big month in Arizona, especially! Additionally, there is a major tax change coming in which will change the way solar home owners are credited for their system. The federal government currently offers 26% of the total cost of a solar system back to the homeowner in the form of a tax credit. To qualify for this tax credit, a homeowner is going to need to have the system installed before the end of this year, making this an urgent time to take a look! Homeowners installing solar next year will see a 22% tax credit, and the credit is scheduled to sunset entirely by 2022.
Many Phoenix and Arizona homeowners will see a greater increase to their home value this time around than they will in coming years. That 4% difference in the tax credit will give homeowners a 4% more valuable solar system than next year, and 24% more valuable than years following.
APS’ decreasing buyback and the sunsetting tax credits make this an important time for Arizonans to look at solar. Ask us about a free quote today and we will get you equipped with the right information to make an informed decision about solar.