Solar Panel Cost Guide in Lennox, CA (2023 Update)
- Lennox Solar Installation Cost: $5,444
- 25-Year Savings: $15,191
- Payback Period: 6.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lennox
Let's have a look at the average cost of solar panels in Lennox.
The average cost of solar panels in Lennox is 2.73 per watt. Since a 2.9-kW system is needed to cover the energy costs of a typical home in Lennox, the average price of going solar will be about $5,446 after claiming the federal solar tax credit of 30%.
The true price you pay can be above or below the average in Lennox depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $28,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Lennox that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lennox
| Year | Return on Investment |
|---|---|
| 1 years | $-4,260 |
| 3 years | $-1,890 |
| 5 years | $479 |
| 7 years | $2,849 |
| 9 years | $5,218 |
| 11 years | $7,588 |
| 13 years | $9,957 |
| 15 years | $12,327 |
| 17 years | $14,696 |
| 19 years | $17,066 |
| 21 years | $19,435 |
| 23 years | $21,805 |
| 25 years | $24,174 |
Top Solar Installers in Lennox
Although it's possible to install solar panels yourself, it requires extra time and know-how. For that reason, almost all homeowners choose to go with a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for you.
If you're looking for a solar installer in Lennox, the EcoWatch team has put together 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
See all of the solar companies in Lennox
Factors that Affect Solar Panel Costs in Lennox
The cost of installing a solar system in Lennox can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, 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 major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation 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 $2,730. The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to think about 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 into a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lennox to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Lennox is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Lennox are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $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 a large number of companies to choose from in Lennox, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Lennox, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lennox?
The average cost of solar panels in Lennox is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lennox?
A solar panel system isn't free in Lennox, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,448.59 per year.
How long do solar panels last in Lennox?
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 amount 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.