Solar Panel Cost Guide in Mountlake Terrace, WA (2024 Update)
- Mountlake Terrace Solar Installation Cost: $11,028
- 25-Year Savings: $24,008
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Mountlake Terrace
We go over average solar pricing in Mountlake Terrace.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mountlake Terrace, the average cost of solar panels is 4 per watt.The average Mountlake Terrace homeowner needs a 4.4-kilowatt system, which would cost about $11,028 with the federal tax credit, or $15,770 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on power bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Mountlake Terrace
| Year | Return on Investment |
|---|---|
| 1 years | $-9,627 |
| 3 years | $-6,824 |
| 5 years | $-4,021 |
| 7 years | $-1,218 |
| 9 years | $1,585 |
| 11 years | $4,387 |
| 13 years | $7,190 |
| 15 years | $9,993 |
| 17 years | $12,796 |
| 19 years | $15,599 |
| 21 years | $18,402 |
| 23 years | $21,205 |
| 25 years | $24,008 |
Top Solar Installers in Mountlake Terrace
Trying to install solar panels by yourself can be a difficult undertaking, which is why using a solar installation company is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Mountlake Terrace
Factors that Affect Solar Panel Costs in Mountlake Terrace
The cost of installing a solar system in Mountlake Terrace can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Mountlake Terrace, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $3,590 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mountlake Terrace to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can impact how much it costs. Mountlake Terrace’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Mountlake Terrace are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $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 installer you opt for will impact 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 a few important things you should consider, including:
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, 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 needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Mountlake Terrace, WA Solar Cost FAQs
How much does it cost to install solar panels in Mountlake Terrace?
This is a hard question to answer exactly, because the cost depends on a variety of 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 cost more if you want other solar equipment or more efficient 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.
Is it better to lease or buy solar panels in Mountlake Terrace?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
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 in Mountlake Terrace, 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 check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for 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.