Solar Panel Cost Guide in Cave Creek, AZ (2023 Update)
- Cave Creek Solar Installation Cost: $9,336
- 25-Year Savings: $24,882
- Payback Period: 6.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cave Creek
Let's have a look at the average cost of solar panels in Cave Creek.
While the national average of solar panels is $2.66 per watt, solar panels in Cave Creek generally cost around 2.61. The average Cave Creek homeowner needs a 5.1-kilowatt system, which would cost about $9,336 with the federal tax credit, or $13,350 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Cave Creek homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar panels is worth paying. On average Cave Creek homeowners see about $25,000 in savings on electricity bills over 20 years.
To receive a free estimate from a top solar company in Cave Creek, you can click the button below.
Solar savings over time in Cave Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-7,967 |
| 3 years | $-5,230 |
| 5 years | $-2,492 |
| 7 years | $245 |
| 9 years | $2,983 |
| 11 years | $5,720 |
| 13 years | $8,457 |
| 15 years | $11,195 |
| 17 years | $13,932 |
| 19 years | $16,670 |
| 21 years | $19,407 |
| 23 years | $22,145 |
| 25 years | $24,882 |
Top Solar Installers in Cave Creek
Although it's possible to install solar panels by yourself, it involves extra labor and expertise. That's one of the reasons the majority of homeowners choose a solar panel installer. Another advantage of going with a solar company is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you're on the hunt for a solar company in Cave Creek, we've organized a list of our top suggestions here:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Cave Creek
Factors that Affect Solar Panel Costs in Cave Creek
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,610. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Cave Creek, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Cave Creek have solar loans, which reduce your upfront costs of installing a solar system. Even though solar loans make switching to solar energy more accessible for Cave Creek homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Cave Creek is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.71 | $11,400 | $28,741 | 7.1 years |
| 8 kW | $2.66 | $14,908 | $38,614 | 7.0 years |
| 10 kW | $2.61 | $18,270 | $48,633 | 6.8 years |
| 12 kW | $2.56 | $21,486 | $58,798 | 6.7 years |
| 14 kW | $2.51 | $24,555 | $69,109 | 6.6 years |
| 16 kW | $2.45 | $27,478 | $79,566 | 6.4 years |
| 18 kW | $2.40 | $30,255 | $90,169 | 6.3 years |
| 20 kW | $2.35 | $32,886 | $100,919 | 6.1 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Cave Creek, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Cave Creek?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,050 for a 5-kW system and $26,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Cave Creek?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cave Creek is currently $399,120, so you could be looking at a value of about $16,364 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cave Creek is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.