Solar Panel Cost Guide in Lake Wildwood, CA (2024 Update)
- Lake Wildwood Solar Installation Cost: $7,488
- 25-Year Savings: $20,440
- Payback Period: 7.1 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Lake Wildwood
Find out how much it might cost to make the switch to solar in Lake Wildwood.
The average cost of solar panels in Lake Wildwood is 3 per watt.To account for the typical energy needs of the average home in Lake Wildwood, most homeowners require a 3.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $7,488, or $10,708 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in Lake Wildwood based on several factors, such as the model of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $32,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar company in Lake Wildwood for a custom quote.
Solar savings over time in Lake Wildwood
Year | Return on Investment |
---|---|
1 years | $-5,950 |
3 years | $-2,875 |
5 years | $201 |
7 years | $3,277 |
9 years | $6,353 |
11 years | $9,429 |
13 years | $12,504 |
15 years | $15,580 |
17 years | $18,656 |
19 years | $21,732 |
21 years | $24,808 |
23 years | $27,883 |
25 years | $30,959 |
Top Solar Installers in Lake Wildwood
Installing solar panels by yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Wildwood
Factors that Affect Solar Panel Costs in Lake Wildwood
Although the average cost of a solar system in Lake Wildwood is $7,488, your final cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Lake Wildwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $3,470 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Lake Wildwood average.
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. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.While solar loans make going solar more accessible for Lake Wildwood homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies operating in Lake Wildwood, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lake Wildwood know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $36,089 | 7.4 years |
8 kW | $3.54 | $19,821 | $48,508 | 7.3 years |
10 kW | $3.47 | $24,290 | $61,121 | 7.1 years |
12 kW | $3.40 | $28,565 | $73,928 | 7.0 years |
14 kW | $3.33 | $32,646 | $86,929 | 6.8 years |
16 kW | $3.26 | $36,532 | $100,125 | 6.7 years |
18 kW | $3.19 | $40,224 | $113,515 | 6.5 years |
20 kW | $3.12 | $43,722 | $127,099 | 6.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Wildwood, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Wildwood?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Wildwood is currently $492,948, which means you could be looking at a value of about $20,211 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lake Wildwood is a fruitful investment.
How often do you have to replace solar panels?
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 higher 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.