Solar Panel Cost Guide in Eloy, AZ (2024 Update)
- Eloy Solar Installation Cost: $11,072
- 25-Year Savings: $25,111
- Payback Period: 8.0 Years
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Average Cost of Solar Panels in Eloy
Let’s take a look at the average cost of solar panels in Eloy.
While the national average of solar panels is $2.66 per watt, solar panels in Eloy generally cost about 3.Since a 5.2-kW system is needed to cover the energy usage of a typical home in Eloy, the average price of going solar will be about $11,072 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Eloy 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.Even with the large upfront cost, the average Eloy homeowner can save about $25,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Eloy for a quote for your home.
Solar savings over time in Eloy
| Year | Return on Investment |
|---|---|
| 1 years | $-9,407 |
| 3 years | $-6,076 |
| 5 years | $-2,744 |
| 7 years | $587 |
| 9 years | $3,918 |
| 11 years | $7,249 |
| 13 years | $10,580 |
| 15 years | $13,911 |
| 17 years | $17,242 |
| 19 years | $20,573 |
| 21 years | $23,904 |
| 23 years | $27,235 |
| 25 years | $30,566 |
Top Solar Installers in Eloy
Although it's possible to install solar panels by yourself, it requires extra labor and handiness. That's why most people choose a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for you.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Eloy
Factors that Affect Solar Panel Costs in Eloy
For many Eloy homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Eloy, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 $3,070 per kilowatt in Eloy.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Eloy average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Eloy, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Eloy is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points.Some companies only sell high-quality, high-efficiency and high-price 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 go with 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 | $3.19 | $13,410 | $26,795 | 8.3 years |
| 8 kW | $3.13 | $17,536 | $36,071 | 8.2 years |
| 10 kW | $3.07 | $21,490 | $45,518 | 8.0 years |
| 12 kW | $3.01 | $25,272 | $55,138 | 7.9 years |
| 14 kW | $2.95 | $28,883 | $64,929 | 7.7 years |
| 16 kW | $2.89 | $32,321 | $74,892 | 7.5 years |
| 18 kW | $2.82 | $35,587 | $85,027 | 7.4 years |
| 20 kW | $2.76 | $38,682 | $95,335 | 7.2 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Eloy, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Eloy?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $15,350 for a 5-kW system and $30,700 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 higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Eloy?
Leasing solar panels can be an appealing choice, because it often 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 maximize your savings.
Can you sell solar power back to the grid in Eloy?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Eloy?
Even though 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 decide 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.