One of the unique things about the state of Arizona is the solar tax credit that the residents have access to. Arizona's solar panel tax credit is just another benefit that comes along with making the jump to clean, renewable energy for your Arizona home or business.
When you hire Olympus Solar to handle the third-party installation and maintenance of your residential and commercial solar system, we'll also help you claim Arizona's solar tax credit that you are entitled to if you meet their qualifications. We want to make sure that you reap all the benefits that come along with the quality solar system that you paid for.
We want to be clear that our team at Olympus Solar is made up of solar professionals, not tax professionals. Before you file your taxes, you should consult a tax professional to make sure that your taxes related to your solar equipment is accurate. Some of the qualifications that need to be met for you to claim the solar tax credit include:
- The collectors, heat exchangers, and storage units must be sold or installed in Arizona, and the installation must be warranted for at least two years.
- The rest of your solar components must be warranted for at least year.
- The solar energy device sold or installed in Arizona must comply with any standards that the Arizona Revised statues section requires.
To qualify for the solar tax credit, the installation of a solar energy device must comply with:
- All fire, safety, and building codes
- Consumer protection standards
- All other federal, state and local laws
If it is determined by your tax professional that you meet the qualification set by the state of Arizona, the solar panel tax credit that you'll receive is up to 25 percent of the cost of your solar device. The maximum solar panel tax credit that you may claim cannot exceed $1,000, and that same amount is also the maximum amount that a single residence can claim as well.
As previously mentioned, we are a solar company and not a tax firm. Having said that, if one of the goals you have for the solar system on you Arizona property is to capitalize on the solar tax credit that the state of Arizona offers, we will do what we can to help you meet the required qualifications. We want to help our clients achieve all the goals that they have for their Arizona properties.