Solar Panel Cost Guide in Monterey Park, CA (2023 Update)
- Monterey Park 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 Monterey Park
Find out what the average cost of solar panel installation is in Monterey Park.
The national average cost of solar panels is $2.66 per watt, but in Monterey Park it's 2.73 per watt. The average solar panel system size in Monterey Park 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 figures above are only estimates based on the average Monterey Park homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $27,000 on electricity bills over 20 years, many homeowners in Monterey Park find investing in solar can be quite rewarding.
To receive a free estimate from a top solar installation company in Monterey Park, you can click the button below.
Solar savings over time in Monterey Park
| 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 Monterey Park
Installing solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
Working with a licensed solar company 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
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 Monterey Park
Factors that Affect Solar Panel Costs in Monterey Park
The cost of installing a solar system in Monterey Park can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Monterey Park homeowners decide to finance their solar panel systems to make going solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Monterey Park, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater 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 lower 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 | $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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Monterey Park, CA Solar Cost FAQs
How much does it cost to install solar panels in Monterey Park?
The average cost of solar panels in Monterey Park 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Monterey Park?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Does Monterey Park have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.