Solar Panel Cost Guide in Lake of the Woods, AZ (2025 Update)
- Lake of the Woods Solar Installation Cost: $11,908
- 25-Year Savings: $25,851
- Payback Period: 8.3 Years
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Average Cost of Solar Panels in Lake of the Woods
We break down average solar pricing in Lake of the Woods.
The average cost of a solar panel system in Lake of the Woods is 3 per watt.Because a 5.5-kW system is needed to cover the energy consumption of a typical home in Lake of the Woods, the average price of going solar will be about $11,908 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs will most likely vary based on your specific situation and what company you want to go with.Even with the high upfront cost, the average Lake of the Woods homeowner can save about $25,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar installer in Lake of the Woods for a personalized estimate.
Solar savings over time in Lake of the Woods
Year | Return on Investment |
---|---|
1 years | $-10,243 |
3 years | $-6,911 |
5 years | $-3,580 |
7 years | $-249 |
9 years | $3,082 |
11 years | $6,413 |
13 years | $9,744 |
15 years | $13,075 |
17 years | $16,406 |
19 years | $19,737 |
21 years | $23,068 |
23 years | $26,399 |
25 years | $29,730 |
Top Solar Installers in Lake of the Woods
Trying to install solar panels on your own can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers near you:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lake of the Woods
Factors that Affect Solar Panel Costs in Lake of the Woods
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
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 power your household uses, the larger your system will likely need to be. You can expect to spend about $3,070 per kilowatt in Lake of the Woods.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond 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 of the Woods to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lake of the Woods are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.19 | $13,410 | $25,543 | 8.6 years |
8 kW | $3.13 | $17,536 | $34,401 | 8.4 years |
10 kW | $3.07 | $21,490 | $43,431 | 8.3 years |
12 kW | $3.01 | $25,272 | $52,633 | 8.1 years |
14 kW | $2.95 | $28,883 | $62,007 | 7.9 years |
16 kW | $2.89 | $32,321 | $71,553 | 7.8 years |
18 kW | $2.82 | $35,587 | $81,271 | 7.6 years |
20 kW | $2.76 | $38,682 | $91,161 | 7.4 years |
How to Save on Solar Panels
There are numerous companies available in Lake of the Woods, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- 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 brand 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 ask for their list of options before making your decision.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lake of the Woods, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Lake of the Woods?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $15,350 for a 5-kW system and $30,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Lake of the Woods?
A solar panel system isn’t free in Lake of the Woods, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 are completely unusable 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 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.