Solar Panel Cost Guide in Peoria, AZ (2024 Update)
- Peoria Solar Installation Cost: $11,176
- 25-Year Savings: $25,155
- Payback Period: 8.1 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Peoria
See how much it might cost to install solar panels in Peoria.
The national average cost of solar panels is $2.66 per watt, but in Peoria it’s 3 per watt.Because a 5.2-kW system is needed to cover the energy needs of a typical home in Peoria, the average price of going solar will be about $11,176 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Peoria homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Even with the high upfront cost, the average Peoria homeowner can save around $25,000 on their power bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Peoria
Year | Return on Investment |
---|---|
1 years | $-9,570 |
3 years | $-6,360 |
5 years | $-3,149 |
7 years | $62 |
9 years | $3,272 |
11 years | $6,483 |
13 years | $9,694 |
15 years | $12,904 |
17 years | $16,115 |
19 years | $19,326 |
21 years | $22,536 |
23 years | $25,747 |
25 years | $28,958 |
Top Solar Installers in Peoria
Installing solar panels by yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. The payback period of solar panels will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
You can get a free quote from a local solar installer on the cost of solar panels 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 Peoria
Factors that Affect Solar Panel Costs in Peoria
There are a number of criteria that can play into 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 panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,070 per kilowatt in Peoria.The kind of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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 for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Peoria to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in 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 choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence the cost. Peoria’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.19 | $13,410 | $26,574 | 8.4 years |
8 kW | $3.13 | $17,536 | $35,776 | 8.2 years |
10 kW | $3.07 | $21,490 | $45,150 | 8.1 years |
12 kW | $3.01 | $25,272 | $54,696 | 7.9 years |
14 kW | $2.95 | $28,883 | $64,414 | 7.7 years |
16 kW | $2.89 | $32,321 | $74,304 | 7.6 years |
18 kW | $2.82 | $35,587 | $84,365 | 7.4 years |
20 kW | $2.76 | $38,682 | $94,599 | 7.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Peoria, AZ Solar Cost FAQs
What is the average cost of installing solar panels in Peoria?
The average cost of solar panels in Peoria is about $15,350 for a 5-kW system and $30,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Peoria?
Leasing solar panels can be an appealing choice, as it usually 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How will solar panels impact how much my home is worth?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go 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?
Though 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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.