Solar Panel Cost Guide in Lake of the Woods, AZ (2024 Update)
- Lake of the Woods Solar Installation Cost: $11,908
- 25-Year Savings: $25,851
- Payback Period: 8.3 Years
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Average Cost of Solar Panels in Lake of the Woods
We break down average solar pricing in Lake of the Woods.
The average cost of a solar panel system in Lake of the Woods is 3 per watt.The average solar panel system size in Lake of the Woods is around 5.5 kilowatts, meaning a cost of about $11,908 for a solar installation, or $17,028 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with.With average savings of about $25,000 on energy bills over 20 years, many homeowners in Lake of the Woods find investing in solar has a decent ROI.
To receive a free quote from a pre-vetted solar company in Lake of the Woods, you can click the button below.
Solar savings over time in Lake of the Woods
| Year | Return on Investment |
|---|---|
| 1 years | $-10,243 |
| 3 years | $-6,911 |
| 5 years | $-3,580 |
| 7 years | $-249 |
| 9 years | $3,082 |
| 11 years | $6,413 |
| 13 years | $9,744 |
| 15 years | $13,075 |
| 17 years | $16,406 |
| 19 years | $19,737 |
| 21 years | $23,068 |
| 23 years | $26,399 |
| 25 years | $29,730 |
Top Solar Installers in Lake of the Woods
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using an installer can make switching to solar power much easier. Another great thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 of the Woods
Factors that Affect Solar Panel Costs in Lake of the Woods
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Lake of the Woods: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,070 per kilowatt in Lake of the Woods.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Lake of the Woods homeowners choose to finance their solar panel systems to make going solar more affordable.Even though solar loans make adopting solar energy more accessible for Lake of the Woods homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lake of the Woods is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.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 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 | $3.19 | $13,410 | $25,543 | 8.6 years |
| 8 kW | $3.13 | $17,536 | $34,401 | 8.4 years |
| 10 kW | $3.07 | $21,490 | $43,431 | 8.3 years |
| 12 kW | $3.01 | $25,272 | $52,633 | 8.1 years |
| 14 kW | $2.95 | $28,883 | $62,007 | 7.9 years |
| 16 kW | $2.89 | $32,321 | $71,553 | 7.8 years |
| 18 kW | $2.82 | $35,587 | $81,271 | 7.6 years |
| 20 kW | $2.76 | $38,682 | $91,161 | 7.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 of the Woods, AZ Solar Cost FAQs
How much does it cost to install solar panels in Lake of the Woods?
The average cost of solar panels in Lake of the Woods is about $15,350 for a 5-kW system and $30,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lake of the Woods?
A solar panel system isn’t free in Lake of the Woods, 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 will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake of the Woods is currently $382,354, which means you can look forward to a value of about $15,677 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lake of the Woods is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.