Solar Panel Cost Guide in Lake Stevens, WA (2024 Update)
- Lake Stevens 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 Stevens
Find out what the average cost of a solar system is in Lake Stevens.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Stevens, the typical cost of solar panels is 4 per watt.The average solar panel system size in Lake Stevens 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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.Even with the large initial cost, the average Lake Stevens homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lake Stevens
| Year | Return on Investment |
|---|---|
| 1 years | $-9,789 |
| 3 years | $-7,311 |
| 5 years | $-4,833 |
| 7 years | $-2,355 |
| 9 years | $123 |
| 11 years | $2,601 |
| 13 years | $5,079 |
| 15 years | $7,558 |
| 17 years | $10,036 |
| 19 years | $12,514 |
| 21 years | $14,992 |
| 23 years | $17,470 |
| 25 years | $19,948 |
Top Solar Installers in Lake Stevens
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your swap to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar company in Lake Stevens, the EcoWatch team has put together a list of our top suggestions here:
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 Stevens
Factors that Affect Solar Panel Costs in Lake Stevens
Cost is usually 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 Lake Stevens: 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Stevens to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest.You’ll have to consider the long-term cost of loans, 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment 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 | $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
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
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 Stevens, WA Solar Cost FAQs
How much does it cost to install solar panels in Lake Stevens?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,950 for a 5-kW system and $35,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Lake Stevens?
Leasing solar panels can be an option if you can’t 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 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 Lake Stevens?
Solar panels can be a beneficial investment for many 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 Lake Stevens?
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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.