Solar Panel Cost Guide in Lake Montezuma, AZ (2023 Update)
- Lake Montezuma Solar Installation Cost: $9,663
- 25-Year Savings: $26,306
- Payback Period: 6.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lake Montezuma
Find out what the average cost of solar panels are in Lake Montezuma.
Although the national average of solar panels is $2.66 per watt, solar panels in Lake Montezuma typically cost around 2.61. Because a 5.3-kW system is needed to cover the energy costs of a typical home in Lake Montezuma, the average price of going solar will be about $9,665 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Even with the significant initial cost, the average Lake Montezuma homeowner can save about $26,000 on their power bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lake Montezuma
| Year | Return on Investment |
|---|---|
| 1 years | $-7,998 |
| 3 years | $-4,667 |
| 5 years | $-1,336 |
| 7 years | $1,996 |
| 9 years | $5,327 |
| 11 years | $8,658 |
| 13 years | $11,989 |
| 15 years | $15,320 |
| 17 years | $18,651 |
| 19 years | $21,982 |
| 21 years | $25,313 |
| 23 years | $28,644 |
| 25 years | $31,975 |
Top Solar Installers in Lake Montezuma
Many homeowners choose to use a solar installer since trying to put up solar panels yourself can be hard. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your home.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
See all of the solar companies in Lake Montezuma
Factors that Affect Solar Panel Costs in Lake Montezuma
For many Lake Montezuma homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Lake Montezuma, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Lake Montezuma homeowners opt to finance their solar panel systems to make going solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect the cost. Lake Montezuma's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lake Montezuma have more knowledge about local solar incentives and can help you learn about 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 end up saving you 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 | $29,403 | 7.0 years |
| 8 kW | $2.66 | $14,908 | $39,496 | 6.9 years |
| 10 kW | $2.61 | $18,270 | $49,735 | 6.7 years |
| 12 kW | $2.56 | $21,486 | $60,120 | 6.6 years |
| 14 kW | $2.51 | $24,555 | $70,652 | 6.4 years |
| 16 kW | $2.45 | $27,478 | $81,330 | 6.3 years |
| 18 kW | $2.40 | $30,255 | $92,154 | 6.2 years |
| 20 kW | $2.35 | $32,886 | $103,124 | 6.0 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
EcoWatch's Lake Montezuma, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Lake Montezuma?
The average cost of solar panels in Lake Montezuma is about $13,050 for a 5-kW system and $26,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lake Montezuma?
Solar panels aren't free in Lake Montezuma, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lake Montezuma, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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.
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.