Solar Panel Cost Guide in Lake Montezuma, AZ (2024 Update)
- Lake Montezuma Solar Installation Cost: $11,366
- 25-Year Savings: $26,306
- Payback Period: 7.9 Years
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Average Cost of Solar Panels in Lake Montezuma
Find out what the average cost of solar panel installation is in Lake Montezuma.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Montezuma, the average cost of solar panels is 3 per watt.The average solar panel system size in Lake Montezuma is around 5.3 kilowatts, meaning a cost of about $11,366 for a solar installation, or $16,253 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.Despite the significant upfront cost, the average Lake Montezuma homeowner can save about $26,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar installer in Lake Montezuma for a customized quote.
Solar savings over time in Lake Montezuma
| Year | Return on Investment |
|---|---|
| 1 years | $-9,701 |
| 3 years | $-6,370 |
| 5 years | $-3,039 |
| 7 years | $292 |
| 9 years | $3,624 |
| 11 years | $6,955 |
| 13 years | $10,286 |
| 15 years | $13,617 |
| 17 years | $16,948 |
| 19 years | $20,279 |
| 21 years | $23,610 |
| 23 years | $26,941 |
| 25 years | $30,272 |
Top Solar Installers in Lake Montezuma
Although you can install solar panels by yourself, it requires extra time and expertise. That's why almost all homeowners choose to hire a solar panel installer. Some solar installers, especially local ones, can help you better understand incentives in Lake Montezuma, therefore optimizing your ROI.
If you're looking for a solar company in Lake Montezuma, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lake Montezuma
Factors that Affect Solar Panel Costs in Lake Montezuma
Although the average cost of a solar system in Lake Montezuma is $11,366, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lake Montezuma, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.Though solar loans make switching to solar energy more accessible for Lake Montezuma homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 solar installation company you choose will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $27,393 | 8.2 years |
| 8 kW | $3.13 | $17,536 | $36,868 | 8.1 years |
| 10 kW | $3.07 | $21,490 | $46,515 | 7.9 years |
| 12 kW | $3.01 | $25,272 | $56,334 | 7.7 years |
| 14 kW | $2.95 | $28,883 | $66,324 | 7.6 years |
| 16 kW | $2.89 | $32,321 | $76,487 | 7.4 years |
| 18 kW | $2.82 | $35,587 | $86,822 | 7.3 years |
| 20 kW | $2.76 | $38,682 | $97,328 | 7.1 years |
How to Save on Solar Panels
There are a lot of companies available in Lake Montezuma, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Lake Montezuma, AZ Solar Cost FAQs
How much does it cost to install solar panels in Lake Montezuma?
The average cost of solar panels in Lake Montezuma is about $15,350 for a 5-kW system and $30,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lake Montezuma?
You can’t get solar panels for free in Lake Montezuma. However, you may still be able to install 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.
Do solar panels increase your property value?
Solar panels can increase your home 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."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.