Solar Panel Cost Guide in Malibu, CA (2023 Update)
- Malibu Solar Installation Cost: $5,444
- 25-Year Savings: $14,724
- Payback Period: 6.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Malibu
Find out what the average cost of solar panel installation is in Malibu.
Although the national average of solar panels is $2.66 per watt, solar panels in Malibu generally cost around 2.73. The average solar panel system size in Malibu is around 2.9 kilowatts, meaning a cost of about $5,446 for a solar installation, or $7,788 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Malibu can save about $27,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Malibu
| Year | Return on Investment |
|---|---|
| 1 years | $-5,377 |
| 3 years | $-5,243 |
| 5 years | $-5,108 |
| 7 years | $-4,974 |
| 9 years | $-4,839 |
| 11 years | $-4,705 |
| 13 years | $-4,571 |
| 15 years | $-4,436 |
| 17 years | $-4,302 |
| 19 years | $-4,167 |
| 21 years | $-4,033 |
| 23 years | $-3,898 |
| 25 years | $-3,764 |
Top Solar Installers in Malibu
Many homeowners choose to hire a solar panel installer since trying to install solar panels yourself can be a lot of work. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you'd like to go solar but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:
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 Malibu
Factors that Affect Solar Panel Costs in Malibu
Though the average cost of a solar system in Malibu is $5,446, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Malibu, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Malibu offer solar loans, which reduce the initial cost of installing a solar system. Though solar loans make going solar more accessible for Malibu homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can affect how much it costs. Malibu's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $30,551 | 7.0 years |
| 8 kW | $2.78 | $15,594 | $41,040 | 6.9 years |
| 10 kW | $2.73 | $19,110 | $51,682 | 6.7 years |
| 12 kW | $2.68 | $22,473 | $62,477 | 6.6 years |
| 14 kW | $2.62 | $25,684 | $73,425 | 6.5 years |
| 16 kW | $2.57 | $28,741 | $84,526 | 6.3 years |
| 18 kW | $2.51 | $31,646 | $95,779 | 6.2 years |
| 20 kW | $2.46 | $34,398 | $107,186 | 6.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 good reviews from past customers.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 Malibu, CA Solar Cost FAQs
What is the average cost of installing solar panels in Malibu?
The average cost of solar panels in Malibu is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Malibu?
You can't get solar panels for free in Malibu. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Malibu?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Malibu?
On average, solar panels can last 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.