How much does it cost to install a solar system?
The cost to install a solar/photovoltaic system, based on the national average, is approximately $7.00 per installed, DC watt. This means if you decide to purchase a 3 kW system, the cost before rebates and government tax incentives would be approximately $21,000. Every system is customized and priced specifically for your particular circumstances and budget. We like to think of it like this, “What is NOT having a solar/photovoltaic costing you now?”
What is the best way to “ballpark” the size and cost of my solar system?
The best way to get an idea of a general solar/photovoltaic system cost would be to use our solar calculator or for a more detailed estimate call us for a FREE consultation.
Is it possible to “zero” my electric bill?
Yes it is. As long as you have the physical space required to install a solar electrical system. Most customers wishing to install a system are only limited by available roof space.
How much will APS (Arizona Public Service), SRP (Salt River Project), TEP (Tucson Electric Power), Trico, or SSVEC (Sulphur Springs Electric Co-Op) reimburse me for the purchase of my solar system?
Take a look at these links from the Database of State Incentives for Renewables and Efficiency (DESIRE) website describing each of the individual rebate plans for the following Arizona utility companies. If your utility company is not listed here. Please give us a call, as there may be benefits for you also. Utility incentives are changing frequently. Call or email us for current utility incentive offerings.
How much will the federal government reimburse me for the purchase of my solar system?
The federal government is now offering a 30% tax credit. This means that 30% of the “total cost” of the solar/photovoltaic system may be deducted from whatever you may owe the federal government at the end of the tax year in which you installed your solar system. If your tax liability has already been met, you may also elect to defer portions or all of your government rebate over several years. You will need to consult your accountant about your specific financial situation.
How much will the State of Arizona reimburse me for the purchase of my solar system?
Arizona State is currently offering 25% of the total system cost with the maximum rebate amount set at $1,000.
How am I going to pay for the difference? Financing, etc.?
There will likely be a portion of the total solar system cost which will not be covered by the government and utility company rebates. Here are some ideas on how you can finance the balance of your new solar/photovoltaic system.
- Credit card
- Home equity line of credit (HELOC)
- Federal Loan Programs-Energy efficient mortgages (EEMs) can be used by homeowners to finance a variety of energy efficiency measures, including renewable energy technologies, and a new or existing home. The federal government supports these loans by ensuring them through FHA or VA programs. This allows borrowers who might otherwise be denied loans to pursue energy efficient improvements, and it secures lenders against loan default and provides them with confidence and lending to customers whom they would usually deny. www.fha.com/lending_limits.cfm. www.fha.com/energy_efficient.cfm. www.hud.gov/offices/hsg/sfh/eem/energy-r.cfm.
- Privately Funded Loan Programs-Electric On Demand is always pursuing competitively priced local financing. Please contact us about what is currently available through local institutions and solar equipment manufactures.
Who does the utility rebate go once the system is completed and operational?
If you choose to pay for your solar system upfront, the utility rebate will be assigned and sent back to you. When the system is complete and operational your local utility company will mail you a check for the rebate amount applicable to your system size and cost. If you do not choose to pay for your solar system upfront, Electric on Demand will ask that you assign the rebate to us to be applied to the total cost of the system. This basically means that you will have less of an out-of-pocket cost in the beginning.
What is an average ROI (Return On Investment) for a typical solar/PV system?
The return on investment for a solar/photovoltaic system will depend upon several factors:
- Total cost/size of the system being installed
- Less applicable utility and government rebates available
- Type(s) of financing which will be utilized to pay for your system
We will discuss financial options during our initial consultation. Every client is different and specific needs need to be taken into account in order to accurately determine ROI for your solar system. Most people see the benefit of having a completely paid for and profitable solar system within several years.
Where can I learn about these different rebate options for my state as well as my local utility?
http://www.dsireusa.org/incentives/index.cfm?re=1&ee=1&spv=0&st=0&srp=1&state=AZ
Are there any other resources I can look into online to see if Solar/PV is right for me?
Please take a look at our “Links/Partners” page for more information.
I have a friend – neighbor – relative who is interested in a Solar/PV system for their residence/business. Do you offer any referral incentives and/or multiple systems package arrangements?
Yes. We rely on referrals to propel our business. Please contact us to see what we are currently providing in the way of referral incentives.