Solar Panel Cost Guide in Lennox, CA (Mar 2023)
- Lennox Solar Installation Cost: $5,446
- 25-Year Savings: $15,189
- Payback Period: 6.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lennox
Find out what the average cost of a solar system is in Lennox.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lennox, the typical cost of a solar system is 2.73 per watt. To cover the typical energy usage of the average home in Lennox, most homeowners require a 2.9-kilowatt system. Using the figure above, a solar installation costs around $5,446, or $7,788 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you go with. Despite the large initial cost, the average Lennox homeowner can save about $28,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a highly rated solar installer in Lennox, you can click the button below.
Solar savings over time in Lennox
| Year | Return on Investment |
|---|---|
| 1 years | $-4,621 |
| 3 years | $-2,970 |
| 5 years | $-1,319 |
| 7 years | $332 |
| 9 years | $1,982 |
| 11 years | $3,633 |
| 13 years | $5,284 |
| 15 years | $6,935 |
| 17 years | $8,586 |
| 19 years | $10,237 |
| 21 years | $11,887 |
| 23 years | $13,538 |
| 25 years | $15,189 |
Top Solar Installers in Lennox
Although you can install solar panels by yourself, it requires extra labor and expertise. For that reason, most people choose to go with a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Lennox
Factors that Affect Solar Panel Costs in Lennox
For many Lennox homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lennox, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lennox, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Lennox to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Lennox, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $31,533 | 6.9 years |
| 8 kW | $2.78 | $15,594 | $42,350 | 6.7 years |
| 10 kW | $2.73 | $19,110 | $53,320 | 6.6 years |
| 12 kW | $2.68 | $22,473 | $64,442 | 6.5 years |
| 14 kW | $2.62 | $25,684 | $75,718 | 6.3 years |
| 16 kW | $2.57 | $28,741 | $87,146 | 6.2 years |
| 18 kW | $2.51 | $31,646 | $98,727 | 6.1 years |
| 20 kW | $2.46 | $34,398 | $110,461 | 5.9 years |
How to Save on Solar Panels
There are numerous companies available in Lennox, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
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 Lennox, CA Solar Cost FAQs
How much does it cost to install solar panels in Lennox?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lennox?
Leasing solar panels can be an attractive choice, as 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 option if you want to maximize your savings.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lennox is currently $472,600, which means you can expect a value of about $19,377 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lennox is a worthwhile investment.
How long do solar panels last in Lennox?
Although 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 their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.