Solar Panel Cost Guide in Paradise Valley, AZ (2023 Update)
- Paradise Valley Solar Installation Cost: $9,344
- 25-Year Savings: $23,998
- Payback Period: 7.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Paradise Valley
Find out what the average cost of a solar system is in Paradise Valley.
The national average cost of solar panels is $2.66 per watt, but in Paradise Valley it's 2.61 per watt. Using this figure, a typical 5.1-kW system would cost about $9,336 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Paradise Valley depending on a few factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $25,000 over 20 years on power bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Paradise Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-7,679 |
| 3 years | $-4,348 |
| 5 years | $-1,017 |
| 7 years | $2,314 |
| 9 years | $5,646 |
| 11 years | $8,977 |
| 13 years | $12,308 |
| 15 years | $15,639 |
| 17 years | $18,970 |
| 19 years | $22,301 |
| 21 years | $25,632 |
| 23 years | $28,963 |
| 25 years | $32,294 |
Top Solar Installers in Paradise Valley
Installing solar panels yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
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 Paradise Valley
Factors that Affect Solar Panel Costs in Paradise Valley
The cost of installing a solar system in Paradise Valley can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Paradise Valley, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,610 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for Paradise Valley homeowners, they can also raise 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 panel installation company you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for 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 | $27,714 | 7.3 years |
| 8 kW | $2.66 | $14,908 | $37,244 | 7.1 years |
| 10 kW | $2.61 | $18,270 | $46,921 | 7.0 years |
| 12 kW | $2.56 | $21,486 | $56,744 | 6.9 years |
| 14 kW | $2.51 | $24,555 | $66,713 | 6.7 years |
| 16 kW | $2.45 | $27,478 | $76,828 | 6.6 years |
| 18 kW | $2.40 | $30,255 | $87,089 | 6.4 years |
| 20 kW | $2.35 | $32,886 | $97,496 | 6.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
EcoWatch's Paradise Valley, AZ Solar Cost FAQs
How much does it cost to install solar panels in Paradise Valley?
This is a hard question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Paradise Valley?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Paradise Valley, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 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 get between 20 and 35 panels to account for 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.