Solar Panel Cost Guide in Lynwood, CA (2023 Update)
- Lynwood Solar Installation Cost: $5,446
- 25-Year Savings: $14,443
- Payback Period: 6.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lynwood
Let's take a look at the average cost of solar in Lynwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lynwood, the typical cost of solar panels is 2.73 per watt. Since a 2.9-kW system is needed to cover the energy needs of a typical home in Lynwood, the average price of going solar will be about $5,446 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in Lynwood based on several factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Lynwood can save about $27,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lynwood
| Year | Return on Investment |
|---|---|
| 1 years | $-4,651 |
| 3 years | $-3,060 |
| 5 years | $-1,469 |
| 7 years | $123 |
| 9 years | $1,714 |
| 11 years | $3,305 |
| 13 years | $4,896 |
| 15 years | $6,487 |
| 17 years | $8,078 |
| 19 years | $9,669 |
| 21 years | $11,260 |
| 23 years | $12,852 |
| 25 years | $14,443 |
Top Solar Installers in Lynwood
When making the switch to solar, many homeowners opt to go with a solar installation company since overseeing your solar installation yourself can be a difficult project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar company as well, which can save you more money over time.
If you're on the hunt for a solar company in Lynwood, we've organized 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
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 Lynwood
Factors that Affect Solar Panel Costs in Lynwood
There are a number of criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. The brand of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Lynwood, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to factor 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
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lynwood is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $29,961 | 7.1 years |
| 8 kW | $2.78 | $15,594 | $40,254 | 7.0 years |
| 10 kW | $2.73 | $19,110 | $50,699 | 6.8 years |
| 12 kW | $2.68 | $22,473 | $61,298 | 6.7 years |
| 14 kW | $2.62 | $25,684 | $72,049 | 6.6 years |
| 16 kW | $2.57 | $28,741 | $82,953 | 6.4 years |
| 18 kW | $2.51 | $31,646 | $94,010 | 6.3 years |
| 20 kW | $2.46 | $34,398 | $105,220 | 6.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Warranty: If you care about the endurance of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
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 Lynwood, CA Solar Cost FAQs
How much does it cost to install solar panels in Lynwood?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lynwood?
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 maximize your savings.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lynwood is currently $376,202, so you can expect a value of about $15,424 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lynwood is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.