Arizona Solar Power Tax Credits

Arizona department of revenue 602 255 3381 1600 west monroe street phoenix az 85007.

Arizona solar power tax credits.

A nonrefundable individual tax credit for an individual who installs a solar energy device in taxpayer s residence located in arizona. As one of the sunniest states in the country arizona is a paradise when it comes to solar power. New york offers a state tax credit of up to 5 000. This credit can be taken in addition to the credit for increased research activities and is effective for taxable years beginning from.

The itc applies to both residential and commercial systems and there is no cap on its value. After the tax credits we subtract your first year s energy savings which we estimate to be about 1 576. The top rated arizona solar tax credit and state incentives. There is little variance in cost between phoenix flagstaff and tucson as most of the best solar companies have offices in each city.

That is a significant amount of savings on your income taxes. That reduces your cost after the first year to only 16 472. Arizona solar energy tax credit. Arizona has a solar tax credit too which will take another 1 000 off for a new total of 18 048.

1 so it s no surprise that it consistently ranks in the top 10 solar states in the u s. This 75 credit is provided for in arizona revised statutes 43 1090 and 43 1176 and is a nonrefundable individual and corporate income tax credits for the installation of solar hot water heater plumbing stub outs and electric vehicle recharge outlets in houses or dwelling units. Not only do arizona residents get to take advantage of the federal tax credit but they can also receive the state s solar energy credit. Arizona s solar energy credit is equal to 25 of the costs of a solar system up to 1 000.

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. After claiming the 26 federal solar tax credit and arizona s state tax credit the price is only 2 00. University research development tax credit individual or corporate income tax credit for taxpayers that make basic research payments to a university under the jurisdiction of the arizona board of regents. Arizona credit for solar hot water heater plumbing stub out and electric vehicle charging station outlet.

2 while generous sun is the biggest factor arizona s solar incentives and the federal solar tax credit help to contribute to its competitive solar capacity. Arizona and massachusetts for instance currently give state income tax credits worth up to 1 000 toward solar installations. Residential arizona solar tax credit. Credit for solar energy devices.