Solar Panel Cost Guide in Summit, AZ (2023 Update)
- Summit Solar Installation Cost: $9,330
- 25-Year Savings: $22,609
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Summit
See how much it might cost to go solar in Summit.
In Summit, solar panels cost about 2.61 per watt on average. To cover the typical energy usage of the average home in Summit, most homeowners require a 5.1-kilowatt system. Using the figure above, a solar installation costs around $9,336, or $13,350 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Summit homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average Summit homeowners see about $24,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Summit that can help you get a more accurate cost estimate for your home.
Solar savings over time in Summit
| Year | Return on Investment |
|---|---|
| 1 years | $-9,224 |
| 3 years | $-9,011 |
| 5 years | $-8,798 |
| 7 years | $-8,585 |
| 9 years | $-8,372 |
| 11 years | $-8,159 |
| 13 years | $-7,946 |
| 15 years | $-7,733 |
| 17 years | $-7,520 |
| 19 years | $-7,307 |
| 21 years | $-7,094 |
| 23 years | $-6,882 |
| 25 years | $-6,669 |
Top Solar Installers in Summit
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using an installer can make your swap to solar power much easier. Solar warranties and repairs are often included in the cost of installation when you opt for a solar company as well, which can save you more money after your upfront investment.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Summit
Factors that Affect Solar Panel Costs in Summit
Cost is often 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 Summit: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,610 per kilowatt in Summit. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence how much it costs. Summit's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $26,124 | 7.6 years |
| 8 kW | $2.66 | $14,908 | $35,125 | 7.4 years |
| 10 kW | $2.61 | $18,270 | $44,271 | 7.3 years |
| 12 kW | $2.56 | $21,486 | $53,564 | 7.2 years |
| 14 kW | $2.51 | $24,555 | $63,003 | 7.0 years |
| 16 kW | $2.45 | $27,478 | $72,588 | 6.9 years |
| 18 kW | $2.40 | $30,255 | $82,320 | 6.7 years |
| 20 kW | $2.35 | $32,886 | $92,197 | 6.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
EcoWatch's Summit, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Summit?
The average cost of solar panels in Summit is about $13,050 for a 5-kW system and $26,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 Summit?
Leasing solar panels can be an attractive choice, as it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Summit, 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 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.