Solar Panel Cost Guide in El Segundo, CA (2023 Update)
- El Segundo Solar Installation Cost: $5,444
- 25-Year Savings: $15,191
- Payback Period: 6.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in El Segundo
Let's have a look at the average cost of solar panels in El Segundo.
The national average cost of solar panels is $2.66 per watt, but in El Segundo it's 2.73 per watt. The average solar panel system size in El Segundo is around 2.9 kilowatts, meaning a cost of about $5,446 for a solar installation, or $7,788 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average El Segundo homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the high upfront cost, the average El Segundo homeowner can save about $28,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in El Segundo
| Year | Return on Investment |
|---|---|
| 1 years | $-5,376 |
| 3 years | $-5,238 |
| 5 years | $-5,101 |
| 7 years | $-4,963 |
| 9 years | $-4,825 |
| 11 years | $-4,688 |
| 13 years | $-4,550 |
| 15 years | $-4,413 |
| 17 years | $-4,275 |
| 19 years | $-4,137 |
| 21 years | $-4,000 |
| 23 years | $-3,862 |
| 25 years | $-3,725 |
Top Solar Installers in El Segundo
Although you can install solar panels yourself, it requires extra effort and knowledge. For that reason, most homeowners choose a solar panel installer. Solar warranties and repairs are often included in the cost of installation when you go with a solar company as well, which can save you more money after your upfront investment.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
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 El Segundo
Factors that Affect Solar Panel Costs in El Segundo
For many El Segundo homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in El Segundo, with typical prices between $20,000 to $40,000. There are a number of 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 to offset your energy usage, 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 brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 greater savings over time. Also, if you want extra 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 El Segundo homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only 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 APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating throughout El Segundo, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment 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 | $31,533 | 6.9 years |
| 8 kW | $2.78 | $15,594 | $42,350 | 6.7 years |
| 10 kW | $2.73 | $19,110 | $53,320 | 6.6 years |
| 12 kW | $2.68 | $22,473 | $64,442 | 6.5 years |
| 14 kW | $2.62 | $25,684 | $75,718 | 6.3 years |
| 16 kW | $2.57 | $28,741 | $87,146 | 6.2 years |
| 18 kW | $2.51 | $31,646 | $98,727 | 6.1 years |
| 20 kW | $2.46 | $34,398 | $110,461 | 5.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading through 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 component breaking or the company going out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The kind of solar panel you want plays a role in which installer you should go with, since different companies offer different panels.
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 El Segundo, CA Solar Cost FAQs
What is the average cost of installing solar panels in El Segundo?
The average cost of solar panels in El Segundo is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas 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.
Does El Segundo have a net metering program?
Each state has some form 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 power bills.
How long do solar panels last in El Segundo?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.