Solar Panel Cost Guide in Loyola, CA (2024 Update)
- Loyola Solar Installation Cost: $7,249
- 25-Year Savings: $20,628
- Payback Period: 6.9 Years
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Average Cost of Solar Panels in Loyola
Find out what the average cost of installing solar panels is in Loyola.
The average cost of solar panels in Loyola is 3 per watt.The average Loyola homeowner needs a 3.0-kilowatt system, which would cost about $7,249 with the federal tax credit, or $10,366 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more.Despite the large initial cost, the average Loyola homeowner can save about $34,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar company in Loyola that can help you get a more accurate cost estimate for your home.
Solar savings over time in Loyola
| Year | Return on Investment |
|---|---|
| 1 years | $-5,711 |
| 3 years | $-2,635 |
| 5 years | $441 |
| 7 years | $3,517 |
| 9 years | $6,592 |
| 11 years | $9,668 |
| 13 years | $12,744 |
| 15 years | $15,820 |
| 17 years | $18,896 |
| 19 years | $21,971 |
| 21 years | $25,047 |
| 23 years | $28,123 |
| 25 years | $31,199 |
Top Solar Installers in Loyola
When going solar, many homeowners choose to go with a solar company since installing solar panels yourself can be a difficult project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Loyola
Factors that Affect Solar Panel Costs in Loyola
For many Loyola homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Loyola, with typical prices between $20,000 to $40,000. There are several factors that considerably 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 influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Loyola average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a role in determining the cost. Loyola’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Loyola are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $3.61 | $15,157 | $37,783 | 7.2 years |
| 8 kW | $3.54 | $19,821 | $50,766 | 7.0 years |
| 10 kW | $3.47 | $24,290 | $63,943 | 6.9 years |
| 12 kW | $3.40 | $28,565 | $77,315 | 6.7 years |
| 14 kW | $3.33 | $32,646 | $90,881 | 6.6 years |
| 16 kW | $3.26 | $36,532 | $104,641 | 6.5 years |
| 18 kW | $3.19 | $40,224 | $118,596 | 6.3 years |
| 20 kW | $3.12 | $43,722 | $132,745 | 6.2 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. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Loyola, CA Solar Cost FAQs
How much does it cost to install solar panels in Loyola?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Loyola?
Leasing solar panels can be an option if you can’t afford 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 property 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.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Loyola, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 larger 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.