Solar Panel Cost Guide in Lomita, CA (Mar 2023)
- Lomita 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 Lomita
Let's take a look at the average cost of solar in Lomita.
The national average cost of solar panels is $2.66 per watt, but in Lomita it's 2.73 per watt. The average Lomita homeowner needs a 2.9-kilowatt system, which would cost about $5,446 with the federal tax credit, or $7,788 before the 30% tax credit is applied.
These figures are just estimates, and how much solar costs for you may differ based on the amount of energy your home requires and what company you go with. But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $28,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lomita
| 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 Lomita
Many homeowners opt for a solar installation company since installing solar panels yourself can be challenging. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a licensed solar installer can help your solar project go smoothly. 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
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 Lomita
Factors that Affect Solar Panel Costs in Lomita
For many Lomita homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lomita, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,730. The brand and type 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much you pay. Lomita's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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
The solar company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Lomita, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lomita?
The average cost of solar panels in Lomita 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lomita?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Lomita have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.