Solar Panel Cost Guide in Eloy, AZ (2025 Update)
- Eloy Solar Installation Cost: $11,072
- 25-Year Savings: $25,111
- Payback Period: 8.0 Years
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Average Cost of Solar Panels in Eloy
Let’s take a look at the average cost of solar panels in Eloy.
In Eloy, solar panels cost about 3 per watt on average.The average Eloy homeowner needs a 5.2-kilowatt system, which would cost about $11,072 with the federal tax credit, or $15,833 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Eloy based on several factors, such as the brand of solar panels you choose and the solar installer you hire.With average savings of about $25,000 on energy bills over 20 years, many homeowners in Eloy find investing in solar can be quite rewarding.
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Solar savings over time in Eloy
| Year | Return on Investment |
|---|---|
| 1 years | $-9,407 |
| 3 years | $-6,076 |
| 5 years | $-2,744 |
| 7 years | $587 |
| 9 years | $3,918 |
| 11 years | $7,249 |
| 13 years | $10,580 |
| 15 years | $13,911 |
| 17 years | $17,242 |
| 19 years | $20,573 |
| 21 years | $23,904 |
| 23 years | $27,235 |
| 25 years | $30,566 |
Top Solar Installers in Eloy
When going solar, many homeowners prefer to use a solar installer since installing a solar system yourself can be a challenging project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for your home.
If you're on the hunt for a solar company in Eloy, we've compiled a list of our top suggestions here:
See all of the solar companies in Eloy
Factors that Affect Solar Panel Costs in Eloy
The cost of installing a solar system in Eloy can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,070 per kilowatt in Eloy.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Eloy average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Eloy, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.Though 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. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Eloy, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.19 | $13,410 | $26,795 | 8.3 years |
| 8 kW | $3.13 | $17,536 | $36,071 | 8.2 years |
| 10 kW | $3.07 | $21,490 | $45,518 | 8.0 years |
| 12 kW | $3.01 | $25,272 | $55,138 | 7.9 years |
| 14 kW | $2.95 | $28,883 | $64,929 | 7.7 years |
| 16 kW | $2.89 | $32,321 | $74,892 | 7.5 years |
| 18 kW | $2.82 | $35,587 | $85,027 | 7.4 years |
| 20 kW | $2.76 | $38,682 | $95,335 | 7.2 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall 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 take into account, such as:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you’d like plays a part in which company you should opt for, since different companies have access to different panels.
EcoWatch's Eloy, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Eloy?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $15,350 for a 5-kW system and $30,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Eloy?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does Eloy have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.