Solar Panel Cost Guide in Peoria, AZ (2023 Update)
- Peoria Solar Installation Cost: $9,500
- 25-Year Savings: $25,155
- Payback Period: 6.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Peoria
Let's take a look at the average cost of solar panels in Peoria.
While the national average of solar panels is $2.66 per watt, solar panels in Peoria generally cost around 2.61. Using this figure, a typical 5.2-kW system would cost about $9,500 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Peoria homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the high initial cost, the average Peoria homeowner can save around $25,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Peoria
| Year | Return on Investment |
|---|---|
| 1 years | $-8,114 |
| 3 years | $-5,342 |
| 5 years | $-2,569 |
| 7 years | $203 |
| 9 years | $2,976 |
| 11 years | $5,748 |
| 13 years | $8,521 |
| 15 years | $11,293 |
| 17 years | $14,066 |
| 19 years | $16,838 |
| 21 years | $19,610 |
| 23 years | $22,383 |
| 25 years | $25,155 |
Top Solar Installers in Peoria
Many homeowners choose to hire a solar panel company since trying to install solar panels by yourself can be time-consuming. Solar warranties and repairs are typically included in the cost of installation when you hire a solar contractor too, which can save you more money after your upfront investment.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Peoria
Factors that Affect Solar Panel Costs in Peoria
There are a number of factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,610. There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Peoria, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Peoria is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services for different budgets. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers 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 | $28,584 | 7.1 years |
| 8 kW | $2.66 | $14,908 | $38,404 | 7.0 years |
| 10 kW | $2.61 | $18,270 | $48,370 | 6.9 years |
| 12 kW | $2.56 | $21,486 | $58,483 | 6.7 years |
| 14 kW | $2.51 | $24,555 | $68,742 | 6.6 years |
| 16 kW | $2.45 | $27,478 | $79,146 | 6.4 years |
| 18 kW | $2.40 | $30,255 | $89,698 | 6.3 years |
| 20 kW | $2.35 | $32,886 | $100,395 | 6.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Peoria, AZ Solar Cost FAQs
How much does it cost to install solar panels in Peoria?
This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Peoria?
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 don't have access to 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 bang for your buck from going solar.
Does Peoria have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Peoria?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.