Solar Panel Cost Guide in Loma Rica, CA (2023 Update)
- Loma Rica Solar Installation Cost: $5,955
- 25-Year Savings: $20,376
- Payback Period: 5.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Loma Rica
Find out what the average cost of solar panels are in Loma Rica.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Loma Rica, the average cost of solar panels is 2.73 per watt. The average solar panel system size in Loma Rica is around 3.1 kilowatts, meaning a cost of about $5,962 for a solar installation, or $8,526 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Loma Rica can save about $32,000 on their electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Loma Rica
| Year | Return on Investment |
|---|---|
| 1 years | $-5,867 |
| 3 years | $-5,692 |
| 5 years | $-5,516 |
| 7 years | $-5,340 |
| 9 years | $-5,165 |
| 11 years | $-4,989 |
| 13 years | $-4,814 |
| 15 years | $-4,638 |
| 17 years | $-4,463 |
| 19 years | $-4,287 |
| 21 years | $-4,112 |
| 23 years | $-3,936 |
| 25 years | $-3,761 |
Top Solar Installers in Loma Rica
Many homeowners decide to use a solar installer since trying to install solar panels on your own can be hard. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what type of solar equipment would be right for your home.
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
See all of the solar companies in Loma Rica
Factors that Affect Solar Panel Costs in Loma Rica
Though the average cost of a solar system in Loma Rica is $5,962, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
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 better 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 and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment 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 Loma Rica 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 drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the amount of 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 company you select will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $38,775 | 5.9 years |
| 8 kW | $2.78 | $15,594 | $52,006 | 5.8 years |
| 10 kW | $2.73 | $19,110 | $65,389 | 5.7 years |
| 12 kW | $2.68 | $22,473 | $78,926 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $92,615 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $106,458 | 5.3 years |
| 18 kW | $2.51 | $31,646 | $120,453 | 5.2 years |
| 20 kW | $2.46 | $34,398 | $134,601 | 5.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you'd like to get plays a role in which installer you should opt for, since different companies have different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar company, 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 to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Loma Rica, CA Solar Cost FAQs
How much does it cost to install solar panels in Loma Rica?
This is a hard 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 other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, 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 Loma Rica?
Leasing solar panels can be an appealing choice, because 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 way to go if you want to get the most savings.
Is it worth going solar in Loma Rica?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.