Solar Panel Cost Guide in Gold Canyon, AZ (2023 Update)
- Gold Canyon Solar Installation Cost: $9,413
- 25-Year Savings: $23,054
- Payback Period: 7.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gold Canyon
Let's have a look at the average cost of solar in Gold Canyon.
While the national average of solar panels is $2.66 per watt, solar panels in Gold Canyon typically cost about 2.61. Because a 5.2-kW system is needed to cover the energy consumption of a typical home in Gold Canyon, the average price of going solar will be about $9,409 after claiming the federal solar tax credit of 30%.
These figures are only averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you go with. Despite the significant initial cost, the average Gold Canyon homeowner can save around $24,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar company in Gold Canyon for a custom estimate.
Solar savings over time in Gold Canyon
| Year | Return on Investment |
|---|---|
| 1 years | $-9,305 |
| 3 years | $-9,088 |
| 5 years | $-8,872 |
| 7 years | $-8,656 |
| 9 years | $-8,439 |
| 11 years | $-8,223 |
| 13 years | $-8,006 |
| 15 years | $-7,790 |
| 17 years | $-7,573 |
| 19 years | $-7,357 |
| 21 years | $-7,141 |
| 23 years | $-6,924 |
| 25 years | $-6,708 |
Top Solar Installers in Gold Canyon
Installing solar panels on your own can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, especially if you aren't sure what kind of solar equipment you need.
If you're looking for a solar installer in Gold Canyon, we've compiled a list of our top suggestions here:
See all of the solar companies in Gold Canyon
Factors that Affect Solar Panel Costs in Gold Canyon
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Gold Canyon: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,610. The kind of solar equipment you choose can increase or decrease your cost 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. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Gold Canyon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Gold Canyon to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. While solar loans make switching to solar energy more accessible for Gold Canyon homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Gold Canyon, and each can charge varying amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also is within your budget.
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 | $26,409 | 7.5 years |
| 8 kW | $2.66 | $14,908 | $35,504 | 7.4 years |
| 10 kW | $2.61 | $18,270 | $44,746 | 7.2 years |
| 12 kW | $2.56 | $21,486 | $54,133 | 7.1 years |
| 14 kW | $2.51 | $24,555 | $63,667 | 7.0 years |
| 16 kW | $2.45 | $27,478 | $73,347 | 6.8 years |
| 18 kW | $2.40 | $30,255 | $83,173 | 6.7 years |
| 20 kW | $2.35 | $32,886 | $93,145 | 6.5 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which company you should opt for, since different companies offer different panels.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
EcoWatch's Gold Canyon, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Gold Canyon?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Gold Canyon?
You can't get solar panels for free in Gold Canyon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does Gold Canyon have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 household 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.