Solar Panel Cost Guide in Lathrop, CA (2023 Update)
- Lathrop Solar Installation Cost: $7,350
- 25-Year Savings: $20,518
- Payback Period: 7.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Lathrop
Find out what the average cost of installing solar panels is in Lathrop.
While the national average of solar panels is $2.66 per watt, solar panels in Lathrop typically cost about 2.73.Since a 3.0-kW system is needed to cover the energy costs of a typical home in Lathrop, the average price of going solar will be about $5,790 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more.With typical savings of about $33,000 on utility bills over 20 years, many homeowners in Lathrop find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar expert, 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 installer since installing solar panels on your own can be a labor-intensive endeavor. Companies can also offer access to quality options of the best solar panels and help you pick which one will be right for your home.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Lathrop
Factors that Affect Solar Panel Costs in Lathrop
The cost of installing a solar system in Lathrop can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730.The brand of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of 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
Most solar companies in Lathrop have solar loans, which reduce your upfront costs of installing solar.Though solar loans make switching to solar energy more accessible for Lathrop homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Lathrop, you'll have many options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Lathrop have more knowledge about local solar incentives and can help you make good use of 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 | $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 choose 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 have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully 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 what services you can expect from them.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should choose, since different companies have access to different panels.
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 Lathrop, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lathrop?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Lathrop?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Lathrop have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Lathrop?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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.