Solar Panel Cost Guide in Lathrop, CA (2024 Update)
- Lathrop Solar Installation Cost: $7,350
- 25-Year Savings: $20,518
- Payback Period: 7.0 Years
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Average Cost of Solar Panels in Lathrop
Let’s have a look at the average cost of solar panels in Lathrop.
The national average cost of solar panels is $2.66 per watt, but in Lathrop it’s 3 per watt.Using this figure, a typical 3.0-kW system would cost about $7,350 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lathrop homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $33,000 over 20 years on energy bills.
To receive a free estimate from a pre-vetted solar installation company in Lathrop, you can click the button below.
Solar savings over time in Lathrop
| Year | Return on Investment |
|---|---|
| 1 years | $-5,812 |
| 3 years | $-2,737 |
| 5 years | $339 |
| 7 years | $3,415 |
| 9 years | $6,491 |
| 11 years | $9,567 |
| 13 years | $12,642 |
| 15 years | $15,718 |
| 17 years | $18,794 |
| 19 years | $21,870 |
| 21 years | $24,946 |
| 23 years | $28,021 |
| 25 years | $31,097 |
Top Solar Installers in Lathrop
Many homeowners choose to hire a solar panel installer since trying to install solar panels on your own can be hard. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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
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 Lathrop
Factors that Affect Solar Panel Costs in Lathrop
For many Lathrop homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Lathrop, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lathrop to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you select will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lathrop know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $36,991 | 7.3 years |
| 8 kW | $3.54 | $19,821 | $49,710 | 7.1 years |
| 10 kW | $3.47 | $24,290 | $62,624 | 7.0 years |
| 12 kW | $3.40 | $28,565 | $75,731 | 6.8 years |
| 14 kW | $3.33 | $32,646 | $89,033 | 6.7 years |
| 16 kW | $3.26 | $36,532 | $102,530 | 6.6 years |
| 18 kW | $3.19 | $40,224 | $116,221 | 6.4 years |
| 20 kW | $3.12 | $43,722 | $130,106 | 6.3 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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
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 Lathrop, CA Solar Cost FAQs
How much does it cost to install solar panels in Lathrop?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,738.28 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to 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.