Solar Panel Cost Guide in Canyon Lake, CA (Mar 2023)
- Canyon Lake Solar Installation Cost: $5,351
- 25-Year Savings: $13,418
- Payback Period: 7.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Canyon Lake
Find out how much it might cost to go solar in Canyon Lake.
In Canyon Lake, solar panels cost about 2.73 per watt on average. Using this figure, a typical 2.8-kW system would cost about $5,351 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Canyon Lake depending on several factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Canyon Lake can save about $25,000 on their power bills over 20 years.
To receive a free estimate from a vetted solar installer in Canyon Lake, you can click the button below.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-4,600 |
| 3 years | $-3,099 |
| 5 years | $-1,597 |
| 7 years | $-95 |
| 9 years | $1,406 |
| 11 years | $2,908 |
| 13 years | $4,409 |
| 15 years | $5,911 |
| 17 years | $7,412 |
| 19 years | $8,914 |
| 21 years | $10,415 |
| 23 years | $11,917 |
| 25 years | $13,418 |
Top Solar Installers in Canyon Lake
When going solar, many homeowners prefer to go with a solar installer since putting up solar panels yourself can be a challenging project. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what type of solar equipment would be right for your home.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
Although the average cost of a solar system in Canyon Lake is $5,351, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Canyon Lake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can raise or lower 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Canyon Lake homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can influence the cost. Canyon Lake's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater 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 down to compete with bigger companies.
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
There are many companies available in Canyon Lake, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs 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 Canyon Lake, CA Solar Cost FAQs
How much does it cost to install solar panels in Canyon Lake?
This is a tough 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 other solar equipment or higher quality 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.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase your property's value significantly 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 a solar system."
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 usually produce about 250 to 400 watt-hours per hour, the average household 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.