Solar Panel Cost Guide in Banning, CA (2023 Update)
- Banning Solar Installation Cost: $5,351
- 25-Year Savings: $15,570
- Payback Period: 6.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Banning
Find out what the average cost of a solar system is in Banning.
Although the national average of solar panels is $2.66 per watt, solar panels in Banning generally cost around 2.73. Since a 2.8-kW system is needed to cover the energy needs of a typical home in Banning, the average price of going solar will be about $5,351 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Banning based on several factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $28,000 over 20 years on power bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Banning
| Year | Return on Investment |
|---|---|
| 1 years | $-4,514 |
| 3 years | $-2,840 |
| 5 years | $-1,167 |
| 7 years | $507 |
| 9 years | $2,181 |
| 11 years | $3,854 |
| 13 years | $5,528 |
| 15 years | $7,202 |
| 17 years | $8,875 |
| 19 years | $10,549 |
| 21 years | $12,223 |
| 23 years | $13,897 |
| 25 years | $15,570 |
Top Solar Installers in Banning
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar company can make your swap to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Banning:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Banning
Factors that Affect Solar Panel Costs in Banning
For many Banning homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Banning, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Banning, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Banning, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $32,892 | 6.7 years |
| 8 kW | $2.78 | $15,594 | $44,162 | 6.5 years |
| 10 kW | $2.73 | $19,110 | $55,584 | 6.4 years |
| 12 kW | $2.68 | $22,473 | $67,160 | 6.3 years |
| 14 kW | $2.62 | $25,684 | $78,888 | 6.1 years |
| 16 kW | $2.57 | $28,741 | $90,770 | 6.0 years |
| 18 kW | $2.51 | $31,646 | $102,804 | 5.9 years |
| 20 kW | $2.46 | $34,398 | $114,991 | 5.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: If you care about the longevity of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Banning, CA Solar Cost FAQs
How much does it cost to install solar panels in Banning?
The average cost of solar panels in Banning is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Banning?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Banning?
Each state has some kind 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 electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 house 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.