Solar Panel Cost Guide in Lakewood, CA (Mar 2023)
- Lakewood Solar Installation Cost: $5,446
- 25-Year Savings: $13,323
- Payback Period: 7.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lakewood
We go over average solar pricing in Lakewood.
The average cost of solar panels in Lakewood is 2.73 per watt. The average Lakewood homeowner needs a 2.9-kilowatt system, which would cost about $5,446 with the federal tax credit, or $7,788 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more. With average savings of about $25,000 on utility bills over 20 years, many homeowners in Lakewood find going solar can pay off big.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in Lakewood
| Year | Return on Investment |
|---|---|
| 1 years | $-4,696 |
| 3 years | $-3,194 |
| 5 years | $-1,693 |
| 7 years | $-191 |
| 9 years | $1,310 |
| 11 years | $2,812 |
| 13 years | $4,314 |
| 15 years | $5,815 |
| 17 years | $7,317 |
| 19 years | $8,818 |
| 21 years | $10,320 |
| 23 years | $11,821 |
| 25 years | $13,323 |
Top Solar Installers in Lakewood
When switching to solar energy, many homeowners choose to go with a solar installer since DIY solar panel installation can be a time-consuming project. Another good thing about using a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Lakewood:
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 Lakewood
Factors that Affect Solar Panel Costs in Lakewood
Though the average cost of a solar system in Lakewood is $5,446, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Lakewood homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Lakewood, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $2.84 | $11,925 | $27,602 | 7.5 years |
| 8 kW | $2.78 | $15,594 | $37,109 | 7.4 years |
| 10 kW | $2.73 | $19,110 | $46,769 | 7.3 years |
| 12 kW | $2.68 | $22,473 | $56,581 | 7.1 years |
| 14 kW | $2.62 | $25,684 | $66,546 | 7.0 years |
| 16 kW | $2.57 | $28,741 | $76,664 | 6.8 years |
| 18 kW | $2.51 | $31,646 | $86,935 | 6.7 years |
| 20 kW | $2.46 | $34,398 | $97,359 | 6.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Lakewood, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure to look it over 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.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
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 Lakewood, CA Solar Cost FAQs
How much does it cost to install solar panels in Lakewood?
The average cost of solar panels in Lakewood 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Lakewood?
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 can't take advantage of 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 financial benefits from going solar.
Is it worth going solar in Lakewood?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Lakewood?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.