Solar Panel Cost Guide in Medical Lake, WA (2024 Update)
- Medical Lake Solar Installation Cost: $10,693
- 25-Year Savings: $10,813
- Payback Period: 14.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Medical Lake
Let’s have a look at the average cost of solar in Medical Lake.
While the national average of solar panels is $2.66 per watt, solar panels in Medical Lake generally cost about 4.The average Medical Lake homeowner needs a 4.3-kilowatt system, which would cost about $10,693 with the federal tax credit, or $15,291 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with.Even with the significant upfront cost, the average Medical Lake homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free quote from a vetted solar installer in Medical Lake, you can click the button below.
Solar savings over time in Medical Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-9,525 |
| 3 years | $-7,189 |
| 5 years | $-4,854 |
| 7 years | $-2,518 |
| 9 years | $-182 |
| 11 years | $2,153 |
| 13 years | $4,489 |
| 15 years | $6,825 |
| 17 years | $9,160 |
| 19 years | $11,496 |
| 21 years | $13,832 |
| 23 years | $16,167 |
| 25 years | $18,503 |
Top Solar Installers in Medical Lake
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring an installer can make switching to solar power much easier. Solar warranties and repairs are often included in the cost of installation when you go with a solar company as well, which can save you more money after your initial investment.
If you're searching for a solar company in Medical Lake, we've 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 Medical Lake
Factors that Affect Solar Panel Costs in Medical Lake
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Medical Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,590 per kilowatt in Medical Lake.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Medical Lake, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Medical Lake homeowners choose to finance their solar panel systems to offset upfront costs.Though solar loans make switching to solar energy more accessible for Medical Lake 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
A final consideration when trying to evaluate the cost of solar for your home or business in Medical Lake is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs.Some companies only sell products with high efficiency and therefore a higher price point — 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 provides the products, warranties and services you’re looking for and also fit into 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 | $10,745 | 14.8 years |
| 8 kW | $3.66 | $20,506 | $14,729 | 14.5 years |
| 10 kW | $3.59 | $25,130 | $18,914 | 14.3 years |
| 12 kW | $3.52 | $29,553 | $23,300 | 14.0 years |
| 14 kW | $3.45 | $33,775 | $27,887 | 13.7 years |
| 16 kW | $3.37 | $37,796 | $32,675 | 13.4 years |
| 18 kW | $3.30 | $41,615 | $37,664 | 13.1 years |
| 20 kW | $3.23 | $45,234 | $42,854 | 12.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Medical Lake, WA Solar Cost FAQs
What is the average cost of installing solar panels in Medical Lake?
This is a tough question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Medical Lake?
A solar panel system isn’t free in Medical Lake, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Medical Lake, that will require at least a 10-kW system. Not all homes will have roofs that 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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.