Four cities in the Phoenix metro are the best places in the nation to quickly recoup the expenses of installing home solar panels, according to a new report.
It takes homeowners in Chandler, Avondale, Glendale and Mesa just around two years to make up the cost of a solar system installation through reduced electricity bills, according to an analysis by Market Watch. The average time nationally is eight years, Market Watch said.
Chandler led the way as the only city to beat the two-year line. Homeowners there need 23.3 months to offset their up-front solar expenses. In Avondale it takes an even 24 months, while it’s 24.5 months in both Glendale and Mesa.
The report used data from WattBuy, a company accredited by the U.S. Department of Energy.
Market Watch said the Valley cities made the list because energy bills are high in the Grand Canyon State, with the use of central air conditioning higher there than in almost any other state, according to federal statistics. Savings on power bills are helped by 300 days of sunshine each year in the Sonoran Desert, the report said.
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