Solar Panel Cost Guide in Canyon Lake, CA (2023 Update)
- Canyon Lake Solar Installation Cost: $5,352
- 25-Year Savings: $13,417
- Payback Period: 7.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Canyon Lake
We break down average solar pricing in Canyon Lake.
The average cost of a solar system in Canyon Lake is 2.73 per watt. The average Canyon Lake homeowner needs a 2.8-kilowatt system, which would cost about $5,351 with the federal tax credit, or $7,652 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Canyon Lake homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $25,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-4,168 |
| 3 years | $-1,798 |
| 5 years | $571 |
| 7 years | $2,941 |
| 9 years | $5,310 |
| 11 years | $7,680 |
| 13 years | $10,049 |
| 15 years | $12,419 |
| 17 years | $14,788 |
| 19 years | $17,158 |
| 21 years | $19,527 |
| 23 years | $21,897 |
| 25 years | $24,266 |
Top Solar Installers in Canyon Lake
Although it's possible to install solar panels yourself, it takes extra energy and expertise. Because of that, most homeowners choose to hire a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels 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 Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
For many Canyon Lake homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Canyon Lake, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,730. The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, 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
Most solar installers in Canyon Lake provide solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Canyon Lake, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fits within your budget.
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 | $28,282 | 7.4 years |
| 8 kW | $2.78 | $15,594 | $38,016 | 7.3 years |
| 10 kW | $2.73 | $19,110 | $47,902 | 7.1 years |
| 12 kW | $2.68 | $22,473 | $57,941 | 7.0 years |
| 14 kW | $2.62 | $25,684 | $68,132 | 6.8 years |
| 16 kW | $2.57 | $28,741 | $78,477 | 6.7 years |
| 18 kW | $2.51 | $31,646 | $88,975 | 6.6 years |
| 20 kW | $2.46 | $34,398 | $99,625 | 6.4 years |
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: If you're worried about the durability of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Canyon Lake, CA Solar Cost FAQs
What is the average cost of installing solar panels in Canyon Lake?
This is a hard question to answer precisely, 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Canyon Lake?
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 option if you want to get the most savings.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size 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.