Confused about whether to get solar panels installed in 2021 or not? In order to determine if solar panels are a good investment in 2021, let’s first understand the reason behind their popularity.
Solar panels have been recognized as a popular hit among Arizonians given the higher than usual receiving of sunny days in the region. More specifically, with the help of solar panel installation. You get about 180% higher returns than its counterparts placed in other regions of the nation, like New York.
In addition to the temporal advantage, the federal solar tax credits available in Arizona along with the state-level tax credits, make the region a hot spot for solar panel investments.
Homeowners are rapidly switching to energy-efficient solar power panels for saving on their electricity costs year on year. This not only zeroes out their reliance on external utility companies but also helps them reduce their carbon footprint.
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Even throughout the past challenging year 2020, the solar industry witnessed a positive trend in spite of the coal industry taking a rather opposite trend. In fact, several types of research indicate a favorable growth projection for the solar industry over the next 1 – 1.5 years post the COVID-19 pandemic.
Price fall in solar panels
The initial buy-in price for solar panels in Arizona can seem to be quite high for most buyers. However, it must be noted that statistics are indicating a sudden decrease in the price of solar panels in the near future. The coming years are most likely to be characterized by diminishing costs of solar panels.
In fact, it is to be noted that the prices for solar panels have significantly reduced by over 80% over the last decade. In addition, in the year 2020, solar panels were subsidized by the 26% federal tax credit in addition to the net metering law. This makes solar panel installation quite an impressive investment source for many.
Barring the initial cost of setup and installation, the maintenance of solar panels can be quite fair if done appropriately. In addition, most generally these panels also come with a 15-25 years warranty for that extra relief.
Thinking about how this works?
Well, the good news is that if you successfully pay your federal income taxes in Arizona, you get eligible for claiming 26% of your solar panel costs as a deduction to federal tax liability.
Solar panel installation can in fact be a value-driven process if done timely and efficiently.
Solar panels can, immediately after their installation, save you from the electricity bills and add great value to your property. If you are already spending a lot on your power bills, it is time you invest right – and in the right direction. Get expert advice on how and when can a solar panel installation fit your particular home design and location.
People looking for greater returns on their investments must notice that the solar panels are recognized for their higher than average returns in the long term. This holds true for both share market returns as well as property investments.
So have no second thoughts on how and whether these money and resource-saving solar panel installations are a good idea or not. Huge savings on those disturbing electricity bills is anyway the greatest kick-off point for taking up solar panels as your go-to investment for 2021.
Payback periods for solar panels in 2021
The payback period for your solar panel installed can vary. The major factors that determine the payback period include your electricity usage habits, site or location, the roof orientation, and other factors such as roof tilt. Selection of your solar panel installment company can also determine the actual benefits you draw from it.
Trusted solar panel installation provider
Total Solutions is a leading solar panel installation partner in Arizona offering affordable, energy-efficient, and quality-driven solar solutions. With its loyal customer base for custom-made solutions as per unique household needs, Total Solutions is your best-fit solutions provider. Timely delivery of complete solar panel installation services with unmatched customer services. 24×7 query resolution regarding solar panel installation in Arizona, Total Solutions is your go-to brand.