Solar Panel Cost Guide in Monrovia, CA (2023 Update)
- Monrovia Solar Installation Cost: $5,444
- 25-Year Savings: $13,325
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Monrovia
We go over average solar pricing in Monrovia.
In Monrovia, solar panels cost about 2.73 per watt on average. The average Monrovia 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.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what installation company you go with. Even with the large upfront cost, the average Monrovia homeowner can save about $25,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a vetted solar installer in Monrovia, you can click the button below.
Solar savings over time in Monrovia
| Year | Return on Investment |
|---|---|
| 1 years | $-4,215 |
| 3 years | $-1,756 |
| 5 years | $703 |
| 7 years | $3,161 |
| 9 years | $5,620 |
| 11 years | $8,079 |
| 13 years | $10,538 |
| 15 years | $12,997 |
| 17 years | $15,456 |
| 19 years | $17,915 |
| 21 years | $20,373 |
| 23 years | $22,832 |
| 25 years | $25,291 |
Top Solar Installers in Monrovia
When going solar, many homeowners decide to go with a solar installation company since handling can be a time-consuming project. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.
Working with a professional solar installer can make going solar easier. 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
See all of the solar companies in Monrovia
Factors that Affect Solar Panel Costs in Monrovia
For many Monrovia homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Monrovia, 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
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Monrovia to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. Even though solar loans make adopting solar energy more accessible for Monrovia homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence how much you pay. Monrovia's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, 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 | $27,602 | 7.5 years |
| 8 kW | $2.78 | $15,594 | $37,109 | 7.4 years |
| 10 kW | $2.73 | $19,110 | $46,769 | 7.3 years |
| 12 kW | $2.68 | $22,473 | $56,581 | 7.1 years |
| 14 kW | $2.62 | $25,684 | $66,546 | 7.0 years |
| 16 kW | $2.57 | $28,741 | $76,664 | 6.8 years |
| 18 kW | $2.51 | $31,646 | $86,935 | 6.7 years |
| 20 kW | $2.46 | $34,398 | $97,359 | 6.5 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, such as:
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind 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 take a look at their list of offerings before making your decision.
- Warranty: If you care about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Monrovia, CA Solar Cost FAQs
How much does it cost to install solar panels in Monrovia?
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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Monrovia?
Leasing solar panels can be an appealing choice, because it usually 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.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
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.