Solar Panel Cost Guide in Lake Forest, CA (2024 Update)
- Lake Forest Solar Installation Cost: $7,006
- 25-Year Savings: $14,810
- Payback Period: 8.6 Years
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Average Cost of Solar Panels in Lake Forest
Let’s take a look at the average cost of solar panels in Lake Forest.
In Lake Forest, solar panels cost about 3 per watt on average.Because a 2.9-kW system is needed to cover the energy needs of a typical home in Lake Forest, the average price of going solar will be about $7,006 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Lake Forest can save about $27,000 on their electricity bills over 20 years.
To get a free estimate from a highly rated solar installer in Lake Forest, you can click the button below.
Solar savings over time in Lake Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-5,584 |
| 3 years | $-2,740 |
| 5 years | $104 |
| 7 years | $2,948 |
| 9 years | $5,792 |
| 11 years | $8,635 |
| 13 years | $11,479 |
| 15 years | $14,323 |
| 17 years | $17,167 |
| 19 years | $20,011 |
| 21 years | $22,855 |
| 23 years | $25,699 |
| 25 years | $28,542 |
Top Solar Installers in Lake Forest
Although it's possible to install solar panels by yourself, it involves extra labor and knowledge. That's why most people choose to hire a solar panel installer. Another advantage of utilizing a solar company is that they can help you make the most of your ROI by cutting back on future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
If you're searching for a solar company in Lake Forest, the EcoWatch team has put together 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Lake Forest
Factors that Affect Solar Panel Costs in Lake Forest
The cost of installing a solar system in Lake Forest can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,470.There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lake Forest offer solar loans, which reduce your upfront costs of installing solar panels.Although solar loans make going solar more accessible for Lake Forest homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.61 | $15,157 | $27,119 | 9.0 years |
| 8 kW | $3.54 | $19,821 | $36,547 | 8.8 years |
| 10 kW | $3.47 | $24,290 | $46,170 | 8.6 years |
| 12 kW | $3.40 | $28,565 | $55,987 | 8.4 years |
| 14 kW | $3.33 | $32,646 | $65,998 | 8.3 years |
| 16 kW | $3.26 | $36,532 | $76,203 | 8.1 years |
| 18 kW | $3.19 | $40,224 | $86,603 | 7.9 years |
| 20 kW | $3.12 | $43,722 | $97,197 | 7.8 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Lake Forest, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Forest?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lake Forest have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 install 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.