Solar Panel Cost Guide in Eloy, AZ (2023 Update)
- Eloy Solar Installation Cost: $9,409
- 25-Year Savings: $25,115
- Payback Period: 6.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Eloy
We go over average solar pricing in Eloy.
The national average cost of solar panels is $2.66 per watt, but in Eloy it's 2.61 per watt. Because a 5.2-kW system is needed to cover the energy costs of a typical home in Eloy, the average price of going solar will be about $9,409 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in Eloy based on several factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $25,000 on power bills over 20 years, many homeowners in Eloy find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Eloy
| Year | Return on Investment |
|---|---|
| 1 years | $-8,028 |
| 3 years | $-5,266 |
| 5 years | $-2,504 |
| 7 years | $258 |
| 9 years | $3,020 |
| 11 years | $5,782 |
| 13 years | $8,544 |
| 15 years | $11,306 |
| 17 years | $14,068 |
| 19 years | $16,830 |
| 21 years | $19,592 |
| 23 years | $22,353 |
| 25 years | $25,115 |
Top Solar Installers in Eloy
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels by yourself can be challenging. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Eloy:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 Eloy
Factors that Affect Solar Panel Costs in Eloy
There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar panel system in Eloy, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,610 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Eloy, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Eloy homeowners opt to finance their solar panel systems to offset upfront costs. While solar loans make adopting solar energy more accessible for Eloy homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Eloy is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Eloy are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $28,804 | 7.1 years |
| 8 kW | $2.66 | $14,908 | $38,698 | 7.0 years |
| 10 kW | $2.61 | $18,270 | $48,738 | 6.8 years |
| 12 kW | $2.56 | $21,486 | $58,924 | 6.7 years |
| 14 kW | $2.51 | $24,555 | $69,257 | 6.5 years |
| 16 kW | $2.45 | $27,478 | $79,735 | 6.4 years |
| 18 kW | $2.40 | $30,255 | $90,360 | 6.3 years |
| 20 kW | $2.35 | $32,886 | $101,131 | 6.1 years |
How to Save on Solar Panels
There are numerous companies to choose from in Eloy, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Eloy, AZ Solar Cost FAQs
How much does it cost to install solar panels in Eloy?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Eloy?
Solar panels aren't free in Eloy, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.