Solar Panel Cost Guide in Magalia, CA (2023 Update)
- Magalia Solar Installation Cost: $6,000
- 25-Year Savings: $20,331
- Payback Period: 5.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Magalia
Let's take a look at the average cost of solar panels in Magalia.
The national average cost of solar panels is $2.66 per watt, but in Magalia it's 2.73 per watt. The average Magalia homeowner needs a 3.1-kilowatt system, which would cost about $6,001 with the federal tax credit, or $8,581 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with. With typical savings of about $32,000 on power bills over 20 years, many homeowners in Magalia find installing solar panels can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Magalia
| Year | Return on Investment |
|---|---|
| 1 years | $-4,462 |
| 3 years | $-1,386 |
| 5 years | $1,690 |
| 7 years | $4,765 |
| 9 years | $7,841 |
| 11 years | $10,917 |
| 13 years | $13,993 |
| 15 years | $17,069 |
| 17 years | $20,144 |
| 19 years | $23,220 |
| 21 years | $26,296 |
| 23 years | $29,372 |
| 25 years | $32,448 |
Top Solar Installers in Magalia
Although it's possible to install solar panels by yourself, it takes extra time and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your family.
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 Magalia
Factors that Affect Solar Panel Costs in Magalia
The cost of installing a solar system in Magalia can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,730. 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. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Magalia average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. Although solar loans make adopting solar energy more accessible for Magalia homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Magalia, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $38,394 | 5.9 years |
| 8 kW | $2.78 | $15,594 | $51,498 | 5.8 years |
| 10 kW | $2.73 | $19,110 | $64,754 | 5.7 years |
| 12 kW | $2.68 | $22,473 | $78,164 | 5.6 years |
| 14 kW | $2.62 | $25,684 | $91,726 | 5.5 years |
| 16 kW | $2.57 | $28,741 | $105,441 | 5.4 years |
| 18 kW | $2.51 | $31,646 | $119,310 | 5.2 years |
| 20 kW | $2.46 | $34,398 | $133,331 | 5.1 years |
How to Save on Solar Panels
There are many companies available in Magalia, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of 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.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 Magalia, CA Solar Cost FAQs
What is the average cost of installing solar panels in Magalia?
This is a tough question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Magalia?
Leasing solar panels can be an attractive choice, because it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Magalia, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 buy 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.