Solar Panel Cost Guide in Lake Forest, CA (2023 Update)
- Lake Forest Solar Installation Cost: $5,504
- 25-Year Savings: $14,818
- Payback Period: 6.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lake Forest
Find out how much it might cost to switch to solar power in Lake Forest.
The average cost of a solar system in Lake Forest is 2.73 per watt. Since a 2.9-kW system is needed to cover the energy consumption of a typical home in Lake Forest, the average price of going solar will be about $5,504 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will look different based on your energy needs and what company you want to go with. Despite the significant upfront cost, the average Lake Forest homeowner can save around $27,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a pre-vetted solar company in Lake Forest that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-4,691 |
| 3 years | $-3,065 |
| 5 years | $-1,439 |
| 7 years | $186 |
| 9 years | $1,812 |
| 11 years | $3,438 |
| 13 years | $5,064 |
| 15 years | $6,690 |
| 17 years | $8,315 |
| 19 years | $9,941 |
| 21 years | $11,567 |
| 23 years | $13,193 |
| 25 years | $14,818 |
Top Solar Installers in Lake Forest
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be challenging. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what kind of solar equipment you need.
If you're looking for a solar company in Lake Forest, we've organized 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Lake Forest
Factors that Affect Solar Panel Costs in Lake Forest
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lake Forest, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Lake Forest, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in Lake Forest, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also is within your budget.
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 | $30,351 | 7.1 years |
| 8 kW | $2.78 | $15,594 | $40,774 | 6.9 years |
| 10 kW | $2.73 | $19,110 | $51,350 | 6.8 years |
| 12 kW | $2.68 | $22,473 | $62,078 | 6.6 years |
| 14 kW | $2.62 | $25,684 | $72,960 | 6.5 years |
| 16 kW | $2.57 | $28,741 | $83,994 | 6.4 years |
| 18 kW | $2.51 | $31,646 | $95,181 | 6.2 years |
| 20 kW | $2.46 | $34,398 | $106,521 | 6.1 years |
How to Save on Solar Panels
There are many 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:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Lake Forest, CA Solar Cost FAQs
How much does it cost to install solar panels in Lake Forest?
The average cost of solar panels in Lake Forest is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Lake Forest?
A solar panel system isn't free in Lake Forest, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,409.19 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.