Solar Panel Cost Guide in Banning, CA (2023 Update)
- Banning Solar Installation Cost: $5,352
- 25-Year Savings: $15,569
- Payback Period: 6.4 Years
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Updated September 15, 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Banning, the average cost of a solar system is 2.73 per watt. Since a 2.8-kW system is needed to cover the energy usage 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 prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you 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 $28,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Banning
| Year | Return on Investment |
|---|---|
| 1 years | $-5,283 |
| 3 years | $-5,143 |
| 5 years | $-5,004 |
| 7 years | $-4,864 |
| 9 years | $-4,725 |
| 11 years | $-4,585 |
| 13 years | $-4,446 |
| 15 years | $-4,306 |
| 17 years | $-4,167 |
| 19 years | $-4,027 |
| 21 years | $-3,888 |
| 23 years | $-3,748 |
| 25 years | $-3,609 |
Top Solar Installers in Banning
Many homeowners decide to hire a solar panel installer since installing solar panels yourself can be challenging. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your family.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Banning
Factors that Affect Solar Panel Costs in Banning
For many Banning homeowners, the decision to install solar panels depends on 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 several 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 important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Banning average.
Solar Financing Terms
Most solar installers in Banning have solar loans, which reduce your upfront costs of installing a solar system. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
There are numerous companies to choose from in Banning, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which type 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 offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 Banning, CA Solar Cost FAQs
How much does it cost to install solar panels in Banning?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will be more expensive 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.
Can you get solar panels for free in Banning?
You can't get solar panels for free in Banning. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose 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 solar panels."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 buy 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.