Solar Panel Cost Guide in Lake Wildwood, CA (2023 Update)
- Lake Wildwood Solar Installation Cost: $5,891
- 25-Year Savings: $20,440
- Payback Period: 5.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lake Wildwood
Here's how much it might cost to install solar panels in Lake Wildwood.
The average cost of a solar system in Lake Wildwood is 2.73 per watt. The average solar panel system size in Lake Wildwood is around 3.1 kilowatts, meaning a cost of about $5,886 for a solar installation, or $8,417 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. Despite the large upfront cost, the average Lake Wildwood homeowner can save about $32,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar installer in Lake Wildwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake Wildwood
| Year | Return on Investment |
|---|---|
| 1 years | $-4,353 |
| 3 years | $-1,278 |
| 5 years | $1,798 |
| 7 years | $4,874 |
| 9 years | $7,950 |
| 11 years | $11,026 |
| 13 years | $14,101 |
| 15 years | $17,177 |
| 17 years | $20,253 |
| 19 years | $23,329 |
| 21 years | $26,405 |
| 23 years | $29,480 |
| 25 years | $32,556 |
Top Solar Installers in Lake Wildwood
Although you can install solar panels on your own, it takes extra time and expertise. For that reason, the majority of homeowners choose to hire a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for you.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lake Wildwood
Factors that Affect Solar Panel Costs in Lake Wildwood
Even though the average cost of a solar system in Lake Wildwood is $5,886, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Lake Wildwood. The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Wildwood to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lake Wildwood is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different price points. 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 cost more. It's best to do some research and go with the company that provides the products, warranties and services you want and also fit into 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 | $39,322 | 5.8 years |
| 8 kW | $2.78 | $15,594 | $52,735 | 5.7 years |
| 10 kW | $2.73 | $19,110 | $66,301 | 5.6 years |
| 12 kW | $2.68 | $22,473 | $80,019 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $93,891 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $107,916 | 5.3 years |
| 18 kW | $2.51 | $31,646 | $122,093 | 5.1 years |
| 20 kW | $2.46 | $34,398 | $136,423 | 5.0 years |
How to Save on Solar Panels
There are a large number of companies available in Lake Wildwood, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lake Wildwood, CA Solar Cost FAQs
How much does it cost to install solar panels in Lake Wildwood?
The average cost of solar panels in Lake Wildwood 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.