Solar Panel Cost Guide in August, CA (2023 Update)
- August Solar Installation Cost: $5,783
- 25-Year Savings: $20,548
- Payback Period: 5.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in August
We break down average solar pricing in August.
The national average cost of solar panels is $2.66 per watt, but in August it's 2.73 per watt. Because a 3.0-kW system is needed to cover the energy costs of a typical home in August, the average price of going solar will be about $5,790 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and your own solar costs will differ based on your specific situation and what company you choose to go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $33,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in August
| Year | Return on Investment |
|---|---|
| 1 years | $-4,245 |
| 3 years | $-1,169 |
| 5 years | $1,907 |
| 7 years | $4,983 |
| 9 years | $8,058 |
| 11 years | $11,134 |
| 13 years | $14,210 |
| 15 years | $17,286 |
| 17 years | $20,362 |
| 19 years | $23,437 |
| 21 years | $26,513 |
| 23 years | $29,589 |
| 25 years | $32,665 |
Top Solar Installers in August
Although you can install solar panels yourself, it takes extra energy and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in August
Factors that Affect Solar Panel Costs in August
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in August: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important 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 energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in August. The brand and type of equipment you choose 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in August, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in August, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $40,284 | 5.7 years |
| 8 kW | $2.78 | $15,594 | $54,017 | 5.6 years |
| 10 kW | $2.73 | $19,110 | $67,904 | 5.5 years |
| 12 kW | $2.68 | $22,473 | $81,943 | 5.4 years |
| 14 kW | $2.62 | $25,684 | $96,135 | 5.3 years |
| 16 kW | $2.57 | $28,741 | $110,481 | 5.2 years |
| 18 kW | $2.51 | $31,646 | $124,979 | 5.1 years |
| 20 kW | $2.46 | $34,398 | $139,630 | 4.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's August, CA Solar Cost FAQs
What is the average cost of installing solar panels in August?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more 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 choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.