Solar Panel Cost Guide in Good Hope, CA (Mar 2023)
- Good Hope 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 Good Hope
Find out what the average cost of solar panels are in Good Hope.
The national average cost of solar panels is $2.66 per watt, but in Good Hope it's 2.73 per watt. The average Good Hope 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.
The true cost of your system can go higher or lower than the average in Good Hope depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. With typical savings of about $25,000 on energy bills over 20 years, many homeowners in Good Hope find installing solar panels can pay off big.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Good Hope
| 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 Good Hope
Many homeowners opt for a solar installation company since installing solar panels yourself can be challenging. The payback period on a solar system will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
If you're searching for a solar installer in Good Hope, the EcoWatch team has compiled a list of our top suggestions here:
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 Good Hope
Factors that Affect Solar Panel Costs in Good Hope
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Good Hope: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Good Hope, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Good Hope to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect how much it costs. Good Hope's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 lower to compete with bigger names.
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 panel company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Contract: When reading 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 component breaking or the company going out of business.
- Warranty: If you're worried about the longevity of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Good Hope, CA Solar Cost FAQs
How much does it cost to install solar panels in Good Hope?
This is a tough question to answer exactly, 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. It will be more expensive if you want extra 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 want 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 without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Good Hope?
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 electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Good Hope?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.