Solar Panel Cost Guide in Lake Elsinore, CA (Feb 2023)
- Lake Elsinore Solar Installation Cost: $5,351
- 25-Year Savings: $14,158
- Payback Period: 6.9 Years
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Top Solar Installers in Lake Elsinore
Although you can install solar panels yourself, it takes extra effort and expertise. Because of that, most homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you don't quite know what kind of solar equipment would be right for your home.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Lake Elsinore
Factors that Affect Solar Panel Costs in Lake Elsinore
For many Lake Elsinore homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Lake Elsinore, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of a solar energy system in Lake Elsinore, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Lake Elsinore average.
Solar Financing Terms
Most solar installers in Lake Elsinore offer solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your overall costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can affect your pricing. Lake Elsinore's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more 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 lower 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||$29,867||7.1 years|
|8 kW||$2.78||$15,594||$40,129||7.0 years|
|10 kW||$2.73||$19,110||$50,543||6.9 years|
|12 kW||$2.68||$22,473||$61,111||6.7 years|
|14 kW||$2.62||$25,684||$71,831||6.6 years|
|16 kW||$2.57||$28,741||$82,704||6.4 years|
|18 kW||$2.51||$31,646||$93,730||6.3 years|
|20 kW||$2.46||$34,398||$104,909||6.2 years|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which company you should opt for, since different companies have access to different panels.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
EcoWatch's Lake Elsinore, CA Solar Cost FAQs
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.