Solar Panel Cost Guide in Prescott, AZ (2023 Update)
- Prescott Solar Installation Cost: $9,663
- 25-Year Savings: $24,912
- Payback Period: 7.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Prescott
Let's have a look at the average cost of solar in Prescott.
The national average cost of solar panels is $2.66 per watt, but in Prescott it's 2.61 per watt. Using this figure, a typical 5.3-kW system would cost about $9,665 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Prescott can save around $25,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Prescott
| Year | Return on Investment |
|---|---|
| 1 years | $-9,548 |
| 3 years | $-9,317 |
| 5 years | $-9,087 |
| 7 years | $-8,856 |
| 9 years | $-8,626 |
| 11 years | $-8,395 |
| 13 years | $-8,165 |
| 15 years | $-7,934 |
| 17 years | $-7,704 |
| 19 years | $-7,473 |
| 21 years | $-7,243 |
| 23 years | $-7,012 |
| 25 years | $-6,782 |
Top Solar Installers in Prescott
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make swapping over to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Prescott
Factors that Affect Solar Panel Costs in Prescott
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Prescott: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,610. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Prescott, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Prescott provide solar loans, which reduce the initial cost of installing solar. While solar loans make adopting solar energy more accessible for Prescott homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can influence your pricing. Prescott's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $27,821 | 7.3 years |
| 8 kW | $2.66 | $14,908 | $37,387 | 7.1 years |
| 10 kW | $2.61 | $18,270 | $47,099 | 7.0 years |
| 12 kW | $2.56 | $21,486 | $56,958 | 6.8 years |
| 14 kW | $2.51 | $24,555 | $66,962 | 6.7 years |
| 16 kW | $2.45 | $27,478 | $77,113 | 6.6 years |
| 18 kW | $2.40 | $30,255 | $87,410 | 6.4 years |
| 20 kW | $2.35 | $32,886 | $97,853 | 6.3 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:
- 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 indication of a quality company.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
EcoWatch's Prescott, AZ Solar Cost FAQs
How much does it cost to install solar panels in Prescott?
The average cost of solar panels in Prescott 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 consume.
Should I lease or buy solar panels in Prescott?
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 don't have access to 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.
Is it worth going solar in Prescott?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Prescott?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having 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.