Solar Panel Cost Guide in Lake Mathews, CA (Mar 2023)
- Lake Mathews Solar Installation Cost: $5,351
- 25-Year Savings: $14,622
- Payback Period: 6.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lake Mathews
Let's have a look at the average cost of solar in Lake Mathews.
In Lake Mathews, solar panels cost about 2.73 per watt on average. Since a 2.8-kW system is needed to cover the energy consumption of a typical home in Lake Mathews, the average price of going solar will be about $5,351 after claiming the federal solar tax credit of 30%.
These figures are only averages, and the cost of going solar for you will differ based on your specific situation and what company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $27,000 in savings on electricity bills over 20 years.
To receive a free estimate from a highly rated solar installation company in Lake Mathews, you can click the button below.
Solar savings over time in Lake Mathews
| Year | Return on Investment |
|---|---|
| 1 years | $-4,552 |
| 3 years | $-2,954 |
| 5 years | $-1,356 |
| 7 years | $242 |
| 9 years | $1,839 |
| 11 years | $3,437 |
| 13 years | $5,035 |
| 15 years | $6,633 |
| 17 years | $8,231 |
| 19 years | $9,828 |
| 21 years | $11,426 |
| 23 years | $13,024 |
| 25 years | $14,622 |
Top Solar Installers in Lake Mathews
When making the switch to solar, many homeowners choose to go with a solar company since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lake Mathews
Factors that Affect Solar Panel Costs in Lake Mathews
For many Lake Mathews homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Lake Mathews, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Lake Mathews provide solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Lake Mathews is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $30,861 | 7.0 years |
| 8 kW | $2.78 | $15,594 | $41,453 | 6.8 years |
| 10 kW | $2.73 | $19,110 | $52,199 | 6.7 years |
| 12 kW | $2.68 | $22,473 | $63,097 | 6.6 years |
| 14 kW | $2.62 | $25,684 | $74,148 | 6.4 years |
| 16 kW | $2.57 | $28,741 | $85,352 | 6.3 years |
| 18 kW | $2.51 | $31,646 | $96,710 | 6.2 years |
| 20 kW | $2.46 | $34,398 | $108,219 | 6.0 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- 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 considerable role in the company you go with.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely 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 if there are any guarantees about energy production.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Lake Mathews, CA Solar Cost FAQs
How much does it cost to install solar panels in Lake Mathews?
This is a hard question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want extra 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 cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Lake Mathews?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.