Solar Panel Cost Guide in Payson, AZ (2023 Update)
- Payson Solar Installation Cost: $9,597
- 25-Year Savings: $24,625
- Payback Period: 7.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Payson
Here's how much it might cost to install solar panels in Payson.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Payson, the average cost of solar panels is 2.61 per watt. The average solar panel system size in Payson is around 5.2 kilowatts, meaning a cost of about $9,592 for a solar installation, or $13,717 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs may look different based on your energy needs and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Payson can save about $25,000 on their power bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Payson
| Year | Return on Investment |
|---|---|
| 1 years | $-7,931 |
| 3 years | $-4,600 |
| 5 years | $-1,269 |
| 7 years | $2,062 |
| 9 years | $5,393 |
| 11 years | $8,724 |
| 13 years | $12,055 |
| 15 years | $15,386 |
| 17 years | $18,718 |
| 19 years | $22,049 |
| 21 years | $25,380 |
| 23 years | $28,711 |
| 25 years | $32,042 |
Top Solar Installers in Payson
Trying to put up solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. Another great thing about using a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Payson
Factors that Affect Solar Panel Costs in Payson
The cost of installing a solar system in Payson can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Payson, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,610 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Payson to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can play a part in determining how much you pay. Payson's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $27,690 | 7.3 years |
| 8 kW | $2.66 | $14,908 | $37,213 | 7.2 years |
| 10 kW | $2.61 | $18,270 | $46,881 | 7.0 years |
| 12 kW | $2.56 | $21,486 | $56,696 | 6.9 years |
| 14 kW | $2.51 | $24,555 | $66,657 | 6.7 years |
| 16 kW | $2.45 | $27,478 | $76,764 | 6.6 years |
| 18 kW | $2.40 | $30,255 | $87,017 | 6.4 years |
| 20 kW | $2.35 | $32,886 | $97,417 | 6.3 years |
How to Save on Solar Panels
There are a large number of companies available in Payson, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
EcoWatch's Payson, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Payson?
The average cost of solar panels in Payson is about $13,050 for a 5-kW system and $26,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Payson?
Leasing solar panels can be an option if you can't 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 home 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 savings from going solar.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Payson is currently $227,700, which means you can look forward to a value of about $9,336 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Payson is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy 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.