Solar Panel Cost Guide in Prescott Valley, AZ (2023 Update)
- Prescott Valley Solar Installation Cost: $9,663
- 25-Year Savings: $26,306
- Payback Period: 6.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Prescott Valley
Find out what the average cost of solar panel installation is in Prescott Valley.
The average cost of a solar panel system in Prescott Valley is 2.61 per watt. To account for the typical energy needs of the average home in Prescott Valley, most homeowners require a 5.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,665, or $13,821 before the federal solar tax credit of 30% is applied.
The true cost of your system can be higher or lower than the average in Prescott Valley depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. With average savings of about $26,000 on electricity bills over 20 years, many homeowners in Prescott Valley find installing solar panels can be quite rewarding.
Click the button below to get connected to a highly rated solar company in Prescott Valley for a customized estimate.
Solar savings over time in Prescott Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-7,998 |
| 3 years | $-4,667 |
| 5 years | $-1,336 |
| 7 years | $1,996 |
| 9 years | $5,327 |
| 11 years | $8,658 |
| 13 years | $11,989 |
| 15 years | $15,320 |
| 17 years | $18,651 |
| 19 years | $21,982 |
| 21 years | $25,313 |
| 23 years | $28,644 |
| 25 years | $31,975 |
Top Solar Installers in Prescott Valley
Although you can install solar panels on your own, it takes extra effort and know-how. Because of that, most homeowners choose to hire a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Prescott Valley
Factors that Affect Solar Panel Costs in Prescott Valley
There are a number of factors that can affect your total 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you get for your solar system can raise or lower 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Prescott Valley, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Prescott Valley know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $2.71 | $11,400 | $29,403 | 7.0 years |
| 8 kW | $2.66 | $14,908 | $39,496 | 6.9 years |
| 10 kW | $2.61 | $18,270 | $49,735 | 6.7 years |
| 12 kW | $2.56 | $21,486 | $60,120 | 6.6 years |
| 14 kW | $2.51 | $24,555 | $70,652 | 6.4 years |
| 16 kW | $2.45 | $27,478 | $81,330 | 6.3 years |
| 18 kW | $2.40 | $30,255 | $92,154 | 6.2 years |
| 20 kW | $2.35 | $32,886 | $103,124 | 6.0 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: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
EcoWatch's Prescott Valley, AZ Solar Cost FAQs
How much does it cost to install solar panels in Prescott Valley?
The average cost of solar panels in Prescott Valley 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 like the model 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 Prescott Valley?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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 financial benefits from going solar.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Prescott Valley, that will require at least a 10-kW system. Not all homes 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 long do solar panels last in Prescott Valley?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.