Solar Panel Cost Guide in Monterey, CA (2024 Update)
- Monterey Solar Installation Cost: $7,050
- 25-Year Savings: $20,785
- Payback Period: 6.7 Years
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Average Cost of Solar Panels in Monterey
We go over average solar pricing in Monterey.
While the national average of solar panels is $2.66 per watt, solar panels in Monterey typically cost around 3.The average solar panel system size in Monterey is around 2.9 kilowatts, meaning a cost of about $7,050 for a solar installation, or $10,082 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will vary based on factors unique to your home and what company you choose to go with.With typical savings of about $34,000 on utility bills over 20 years, many homeowners in Monterey find going solar can pay off big.
You can click the button below to get connected with a vetted solar company in Monterey for a quote for your home.
Solar savings over time in Monterey
| Year | Return on Investment |
|---|---|
| 1 years | $-5,512 |
| 3 years | $-2,436 |
| 5 years | $640 |
| 7 years | $3,715 |
| 9 years | $6,791 |
| 11 years | $9,867 |
| 13 years | $12,943 |
| 15 years | $16,019 |
| 17 years | $19,094 |
| 19 years | $22,170 |
| 21 years | $25,246 |
| 23 years | $28,322 |
| 25 years | $31,398 |
Top Solar Installers in Monterey
Installing solar panels by yourself can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
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 Monterey
Factors that Affect Solar Panel Costs in Monterey
Even though the average cost of a solar system in Monterey is $7,050, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar energy system you need for your home, 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 around $3,470. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Monterey, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Monterey, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $39,276 | 7.0 years |
| 8 kW | $3.54 | $19,821 | $52,757 | 6.8 years |
| 10 kW | $3.47 | $24,290 | $66,432 | 6.7 years |
| 12 kW | $3.40 | $28,565 | $80,302 | 6.6 years |
| 14 kW | $3.33 | $32,646 | $94,366 | 6.4 years |
| 16 kW | $3.26 | $36,532 | $108,624 | 6.3 years |
| 18 kW | $3.19 | $40,224 | $123,076 | 6.2 years |
| 20 kW | $3.12 | $43,722 | $137,723 | 6.0 years |
How to Save on Solar Panels
There are numerous companies available in Monterey, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
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 Monterey, CA Solar Cost FAQs
What is the average cost of installing solar panels in Monterey?
The average cost of solar panels in Monterey is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Monterey?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 savings from going solar.
Do solar panels increase how much your home is worth?
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 Monterey is currently $1,140,551, which means you can expect a value of about $46,763 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Monterey is a fruitful investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.