Solar Panel Cost Guide in Folsom, CA (2023 Update)
- Folsom Solar Installation Cost: $5,894
- 25-Year Savings: $18,520
- Payback Period: 6.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Folsom
Find out what the average cost of installing solar panels is in Folsom.
The national average cost of solar panels is $2.66 per watt, but in Folsom it's 2.73 per watt. Since a 3.1-kW system is needed to cover the energy consumption of a typical home in Folsom, the average price of going solar will be about $5,886 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will vary based on the amount of energy your home requires and what company you go with. With typical savings of about $30,000 on power bills over 20 years, many homeowners in Folsom find installing solar panels can be quite rewarding.
To get a free estimate from a vetted solar company in Folsom, you can click the button below.
Solar savings over time in Folsom
| Year | Return on Investment |
|---|---|
| 1 years | $-4,573 |
| 3 years | $-1,933 |
| 5 years | $708 |
| 7 years | $3,348 |
| 9 years | $5,989 |
| 11 years | $8,629 |
| 13 years | $11,270 |
| 15 years | $13,910 |
| 17 years | $16,550 |
| 19 years | $19,191 |
| 21 years | $21,831 |
| 23 years | $24,472 |
| 25 years | $27,112 |
Top Solar Installers in Folsom
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with an installer can make converting to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Folsom:
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 Folsom
Factors that Affect Solar Panel Costs in Folsom
For many Folsom homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Folsom, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Folsom, one of the most important 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 power bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Folsom to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. 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'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 securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Folsom is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Folsom have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $35,573 | 6.3 years |
| 8 kW | $2.78 | $15,594 | $47,736 | 6.2 years |
| 10 kW | $2.73 | $19,110 | $60,052 | 6.0 years |
| 12 kW | $2.68 | $22,473 | $72,521 | 5.9 years |
| 14 kW | $2.62 | $25,684 | $85,143 | 5.8 years |
| 16 kW | $2.57 | $28,741 | $97,918 | 5.7 years |
| 18 kW | $2.51 | $31,646 | $110,845 | 5.6 years |
| 20 kW | $2.46 | $34,398 | $123,926 | 5.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- 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 has an impact on which solar panel brands you have access to.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Folsom, CA Solar Cost FAQs
What is the average cost of installing solar panels in Folsom?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Folsom?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 financial benefits from going solar.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,583.24 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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.