Solar Panel Cost Guide in Lake Mathews, CA (2024 Update)
- Lake Mathews Solar Installation Cost: $6,803
- 25-Year Savings: $14,620
- Payback Period: 8.5 Years
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Average Cost of Solar Panels in Lake Mathews
Find out what the average cost of installing solar panels is in Lake Mathews.
The average cost of a solar system in Lake Mathews is 3 per watt.The average Lake Mathews homeowner needs a 2.8-kilowatt system, which would cost about $6,803 with the federal tax credit, or $9,728 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs may look different based on the amount of energy your home requires and what company you go with.Despite the significant upfront cost, the average Lake Mathews homeowner can save around $27,000 on their energy bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a top solar company in Lake Mathews, you can click the button below.
Solar savings over time in Lake Mathews
| Year | Return on Investment |
|---|---|
| 1 years | $-5,619 |
| 3 years | $-3,249 |
| 5 years | $-880 |
| 7 years | $1,490 |
| 9 years | $3,859 |
| 11 years | $6,229 |
| 13 years | $8,598 |
| 15 years | $10,968 |
| 17 years | $13,337 |
| 19 years | $15,707 |
| 21 years | $18,076 |
| 23 years | $20,446 |
| 25 years | $22,815 |
Top Solar Installers in Lake Mathews
Although you can install solar panels by yourself, it takes extra labor and expertise. That's one of the reasons most people choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Lake Mathews:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Lake Mathews
Factors that Affect Solar Panel Costs in Lake Mathews
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Lake Mathews: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lake Mathews, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,470 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Mathews to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Although solar loans make going solar more accessible for Lake Mathews homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make 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 to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Lake Mathews, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices 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 down 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 | $3.61 | $15,157 | $27,628 | 8.9 years |
| 8 kW | $3.54 | $19,821 | $37,226 | 8.7 years |
| 10 kW | $3.47 | $24,290 | $47,019 | 8.5 years |
| 12 kW | $3.40 | $28,565 | $57,005 | 8.3 years |
| 14 kW | $3.33 | $32,646 | $67,186 | 8.2 years |
| 16 kW | $3.26 | $36,532 | $77,562 | 8.0 years |
| 18 kW | $3.19 | $40,224 | $88,131 | 7.8 years |
| 20 kW | $3.12 | $43,722 | $98,895 | 7.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which company you should choose, since different companies have different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Lake Mathews, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Mathews?
The average cost of solar panels in Lake Mathews is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lake Mathews?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Lake Mathews?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.