Solar Panel Cost Guide in Lake Goodwin, WA (2024 Update)
- Lake Goodwin Solar Installation Cost: $11,028
- 25-Year Savings: $10,564
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Lake Goodwin
See how much it might cost to go solar in Lake Goodwin.
The average cost of a solar panel system in Lake Goodwin is 4 per watt.The average solar panel system size in Lake Goodwin is around 4.4 kilowatts, meaning a cost of about $11,028 for a solar installation, or $15,770 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.With average savings of about $17,000 on utility bills over 20 years, many homeowners in Lake Goodwin find installing solar panels has a decent ROI.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lake Goodwin
| Year | Return on Investment |
|---|---|
| 1 years | $-9,777 |
| 3 years | $-7,274 |
| 5 years | $-4,772 |
| 7 years | $-2,269 |
| 9 years | $234 |
| 11 years | $2,736 |
| 13 years | $5,239 |
| 15 years | $7,742 |
| 17 years | $10,245 |
| 19 years | $12,747 |
| 21 years | $15,250 |
| 23 years | $17,753 |
| 25 years | $20,255 |
Top Solar Installers in Lake Goodwin
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using an installer can make your switch to solar power much easier. Another good thing about using a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lake Goodwin
Factors that Affect Solar Panel Costs in Lake Goodwin
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Lake Goodwin: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Lake Goodwin homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of 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 significantly.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Lake Goodwin, you’ll have many options to choose from, but each comes at different price points for labor and equipment.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 come with an above-average cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also is 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 | $3.73 | $15,681 | $9,941 | 15.3 years |
| 8 kW | $3.66 | $20,506 | $13,657 | 15.0 years |
| 10 kW | $3.59 | $25,130 | $17,574 | 14.7 years |
| 12 kW | $3.52 | $29,553 | $21,692 | 14.4 years |
| 14 kW | $3.45 | $33,775 | $26,011 | 14.1 years |
| 16 kW | $3.37 | $37,796 | $30,531 | 13.8 years |
| 18 kW | $3.30 | $41,615 | $35,252 | 13.5 years |
| 20 kW | $3.23 | $45,234 | $40,175 | 13.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: When looking 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 the company going out of business.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lake Goodwin, WA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Goodwin?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Lake Goodwin?
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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $854.09 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.