Solar Panel Cost Guide in Bonney Lake, WA (2024 Update)
- Bonney Lake Solar Installation Cost: $10,754
- 25-Year Savings: $10,768
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Bonney Lake
Here’s how much it might cost to install solar panels in Bonney Lake.
While the national average of solar panels is $2.66 per watt, solar panels in Bonney Lake generally cost around 4.The average solar panel system size in Bonney Lake is around 4.3 kilowatts, meaning a cost of about $10,754 for a solar installation, or $15,378 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Bonney Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-9,478 |
| 3 years | $-6,926 |
| 5 years | $-4,375 |
| 7 years | $-1,823 |
| 9 years | $729 |
| 11 years | $3,281 |
| 13 years | $5,833 |
| 15 years | $8,385 |
| 17 years | $10,936 |
| 19 years | $13,488 |
| 21 years | $16,040 |
| 23 years | $18,592 |
| 25 years | $21,144 |
Top Solar Installers in Bonney Lake
Many homeowners decide to use a solar installation company since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. In addition, if you’d like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Bonney Lake
Factors that Affect Solar Panel Costs in Bonney Lake
The cost of installing a solar system in Bonney Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Bonney Lake average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Bonney Lake, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.73 | $15,681 | $10,595 | 14.9 years |
| 8 kW | $3.66 | $20,506 | $14,529 | 14.6 years |
| 10 kW | $3.59 | $25,130 | $18,664 | 14.3 years |
| 12 kW | $3.52 | $29,553 | $22,999 | 14.1 years |
| 14 kW | $3.45 | $33,775 | $27,536 | 13.8 years |
| 16 kW | $3.37 | $37,796 | $32,274 | 13.5 years |
| 18 kW | $3.30 | $41,615 | $37,213 | 13.2 years |
| 20 kW | $3.23 | $45,234 | $42,353 | 12.9 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Bonney Lake, WA Solar Cost FAQs
How much does it cost to install solar panels in Bonney Lake?
The average cost of solar panels in Bonney Lake is about $17,950 for a 5-kW system and $35,900 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Bonney Lake?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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.
Does Bonney Lake have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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.