Solar Panel Cost Guide in Peoria, AZ (2024 Update)
- Peoria Solar Installation Cost: $11,176
- 25-Year Savings: $25,155
- Payback Period: 8.1 Years
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Average Cost of Solar Panels in Peoria
See how much it might cost to install solar panels in Peoria.
While the national average of solar panels is $2.66 per watt, solar panels in Peoria generally cost about 3.Because a 5.2-kW system is needed to cover the energy consumption of a typical home in Peoria, the average price of going solar will be about $11,176 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs will differ based on the amount of energy your home requires and what company you choose to go with.Even with the large initial cost, the average Peoria homeowner can save around $25,000 on their power bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Peoria
| Year | Return on Investment |
|---|---|
| 1 years | $-9,570 |
| 3 years | $-6,360 |
| 5 years | $-3,149 |
| 7 years | $62 |
| 9 years | $3,272 |
| 11 years | $6,483 |
| 13 years | $9,694 |
| 15 years | $12,904 |
| 17 years | $16,115 |
| 19 years | $19,326 |
| 21 years | $22,536 |
| 23 years | $25,747 |
| 25 years | $28,958 |
Top Solar Installers in Peoria
Many homeowners opt for a solar installation company since installing solar panels on your own can be a lot of work. Another benefit of using a solar installer is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Peoria
Factors that Affect Solar Panel Costs in Peoria
Although the average cost of a solar system in Peoria is $11,176, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,070 per kilowatt in Peoria.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Peoria, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Peoria have solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating in Peoria, and each can charge different amounts for labor and equipment.Additionally, some companies in Peoria have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $26,574 | 8.4 years |
| 8 kW | $3.13 | $17,536 | $35,776 | 8.2 years |
| 10 kW | $3.07 | $21,490 | $45,150 | 8.1 years |
| 12 kW | $3.01 | $25,272 | $54,696 | 7.9 years |
| 14 kW | $2.95 | $28,883 | $64,414 | 7.7 years |
| 16 kW | $2.89 | $32,321 | $74,304 | 7.6 years |
| 18 kW | $2.82 | $35,587 | $84,365 | 7.4 years |
| 20 kW | $2.76 | $38,682 | $94,599 | 7.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Installation Process: When making the switch to solar power, it’s necessary to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Peoria, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Peoria?
The average cost of solar panels in Peoria 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Peoria?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Peoria is currently $484,224, so you can look forward to a value of about $19,853 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Peoria is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.