Solar Panel Cost Guide in Lincoln, CA (2023 Update)
- Lincoln Solar Installation Cost: $5,905
- 25-Year Savings: $20,426
- Payback Period: 5.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lincoln
Let's take a look at the average cost of solar in Lincoln.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lincoln, the average cost of a solar system is 2.73 per watt. The average solar panel system size in Lincoln is around 3.1 kilowatts, meaning a cost of about $5,905 for a solar installation, or $8,444 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you want to go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $32,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-4,852 |
| 3 years | $-2,745 |
| 5 years | $-639 |
| 7 years | $1,468 |
| 9 years | $3,574 |
| 11 years | $5,681 |
| 13 years | $7,787 |
| 15 years | $9,894 |
| 17 years | $12,000 |
| 19 years | $14,107 |
| 21 years | $16,213 |
| 23 years | $18,320 |
| 25 years | $20,426 |
Top Solar Installers in Lincoln
Many homeowners decide to hire a solar installer since figuring out how to install solar panels on your own can be hard. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your home.
There are various 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Lincoln
Factors that Affect Solar Panel Costs in Lincoln
Cost is often 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 Lincoln: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Lincoln. The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, 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 into a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lincoln, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lincoln is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $39,146 | 5.8 years |
| 8 kW | $2.78 | $15,594 | $52,500 | 5.7 years |
| 10 kW | $2.73 | $19,110 | $66,007 | 5.6 years |
| 12 kW | $2.68 | $22,473 | $79,667 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $93,480 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $107,446 | 5.3 years |
| 18 kW | $2.51 | $31,646 | $121,565 | 5.2 years |
| 20 kW | $2.46 | $34,398 | $135,836 | 5.1 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Lincoln, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should choose, since different companies offer different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Lincoln, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
The average cost of solar panels in Lincoln 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will 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 Lincoln is currently $494,459, so you can expect a value of about $20,273 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lincoln is a fruitful investment.
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 their energy production 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.