Solar Panel Cost Guide in New River, AZ (2023 Update)
- New River Solar Installation Cost: $9,344
- 25-Year Savings: $25,311
- Payback Period: 6.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in New River
We break down average solar pricing in New River.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New River, the typical cost of a solar system is 2.61 per watt. Because a 5.1-kW system is needed to cover the energy costs of a typical home in New River, the average price of going solar will be about $9,336 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 true cost of going solar can vary based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in New River can save around $26,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New River
| Year | Return on Investment |
|---|---|
| 1 years | $-9,229 |
| 3 years | $-8,998 |
| 5 years | $-8,767 |
| 7 years | $-8,536 |
| 9 years | $-8,305 |
| 11 years | $-8,074 |
| 13 years | $-7,843 |
| 15 years | $-7,612 |
| 17 years | $-7,380 |
| 19 years | $-7,149 |
| 21 years | $-6,918 |
| 23 years | $-6,687 |
| 25 years | $-6,456 |
Top Solar Installers in New River
Putting up solar panels on your own can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in New River
Factors that Affect Solar Panel Costs in New River
For many New River homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in New River, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,610. The type of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many New River homeowners choose to finance their solar panel systems to make paying for solar more affordable. Though solar loans make adopting solar energy more accessible for New River homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout New River, and each can charge different amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 choose a company that has the products, warranties and services you want and also fits 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 | $29,254 | 7.0 years |
| 8 kW | $2.66 | $14,908 | $39,298 | 6.9 years |
| 10 kW | $2.61 | $18,270 | $49,488 | 6.7 years |
| 12 kW | $2.56 | $21,486 | $59,824 | 6.6 years |
| 14 kW | $2.51 | $24,555 | $70,307 | 6.5 years |
| 16 kW | $2.45 | $27,478 | $80,935 | 6.3 years |
| 18 kW | $2.40 | $30,255 | $91,710 | 6.2 years |
| 20 kW | $2.35 | $32,886 | $102,631 | 6.1 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- 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 big role in the company you hire.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
EcoWatch's New River, AZ Solar Cost FAQs
What is the average cost of installing solar panels in New River?
This is a tough question to answer exactly, because the cost depends on many 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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.