Solar Panel Cost Guide in Lakewood, CA (2025 Update)
- Lakewood Solar Installation Cost: $6,920
- 25-Year Savings: $13,325
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Lakewood
Let’s have a look at the average cost of solar in Lakewood.
The national average cost of solar panels is $2.66 per watt, but in Lakewood it’s 3 per watt.The average Lakewood homeowner needs a 2.8-kilowatt system, which would cost about $6,920 with the federal tax credit, or $9,896 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Lakewood can save around $25,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lakewood
| Year | Return on Investment |
|---|---|
| 1 years | $-5,736 |
| 3 years | $-3,366 |
| 5 years | $-997 |
| 7 years | $1,373 |
| 9 years | $3,742 |
| 11 years | $6,112 |
| 13 years | $8,481 |
| 15 years | $10,851 |
| 17 years | $13,220 |
| 19 years | $15,590 |
| 21 years | $17,959 |
| 23 years | $20,329 |
| 25 years | $22,698 |
Top Solar Installers in Lakewood
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make switching to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
If you're on the hunt for a solar company in Lakewood, we've compiled a list of our top suggestions here:
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 Lakewood
Factors that Affect Solar Panel Costs in Lakewood
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Lakewood: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,470.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Lakewood, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Lakewood provide solar loans, which reduce the initial cost of installing solar panels.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lakewood know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $24,370 | 9.6 years |
| 8 kW | $3.54 | $19,821 | $32,882 | 9.4 years |
| 10 kW | $3.47 | $24,290 | $41,589 | 9.2 years |
| 12 kW | $3.40 | $28,565 | $50,489 | 9.0 years |
| 14 kW | $3.33 | $32,646 | $59,584 | 8.8 years |
| 16 kW | $3.26 | $36,532 | $68,874 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $78,357 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $88,035 | 8.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, 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:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- 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 works and the project timeline.
- Warranty: If you’re concerned about the endurance of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 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 $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 type 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 attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase the value of your home?
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 Lakewood is currently $804,545, which means you could be looking at a value of about $32,986 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lakewood is a fruitful investment.
How long do solar panels last in Lakewood?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.