Solar Panel Cost Guide in Eloy, AZ (Sep 2022)

  • Eloy Solar Installation Cost: $9,409
  • 25-Year Savings: $25,115
  • Payback Period: 6.8 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Eloy

We go over average solar pricing in Eloy.

The average cost of solar panels in Eloy is $3 per watt. The average Eloy homeowner needs a 5.2-kilowatt system, which would cost about $9,409, or $6,963 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with. Many homeowners find going solar is a sound investment. The average homeowner in Eloy can save around $25,000 on their power bills over 20 years.

You can click the button below to get connected with a vetted solar company in Eloy for a quote for your home.

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

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make your swap to solar power much easier. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

★★★★★
4.0

  • 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 several criteria that can determine 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 Size

System size is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Eloy to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest. 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

The solar company you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Eloy, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

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

Solar Incentives in Eloy

Name Solar and Wind Equipment Sales Tax Exemption
More Info Click here

Name Residential Solar and Wind Energy Systems Tax Credit
Incentive Amount 25%
Website Visit here
More Info Click here

Name Qualifying Wood Stove Deduction
More Info Click here

Name Energy Equipment Property Tax Exemption
More Info Click here

Name Trico Electric Cooperative - SunWatts Incentive Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

★★★★★
4.0

  • 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 hard question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Eloy?

Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

How will having solar panels impact how much my home is worth?

Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us