Solar Panel Cost Guide in Monterey Park, CA (2024 Update)
- Monterey Park Solar Installation Cost: $6,920
- 25-Year Savings: $14,444
- Payback Period: 8.7 Years
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Average Cost of Solar Panels in Monterey Park
Find out what the average cost of solar panels are in Monterey Park.
The average cost of a solar panel system in Monterey Park is 3 per watt.To cover the typical energy usage of the average home in Monterey Park, most homeowners require a 2.8-kilowatt system. Using the figure above, a solar installation costs about $6,920, or $9,896 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Monterey Park depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.Even with the large upfront cost, the average Monterey Park homeowner can save around $27,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Monterey Park
| Year | Return on Investment |
|---|---|
| 1 years | $-5,736 |
| 3 years | $-3,366 |
| 5 years | $-997 |
| 7 years | $1,373 |
| 9 years | $3,742 |
| 11 years | $6,112 |
| 13 years | $8,481 |
| 15 years | $10,851 |
| 17 years | $13,220 |
| 19 years | $15,590 |
| 21 years | $17,959 |
| 23 years | $20,329 |
| 25 years | $22,698 |
Top Solar Installers in Monterey Park
When switching to solar energy, many homeowners choose to hire a solar company since installing a solar system yourself can be a challenging project. Solar warranties and repairs are usually included in the cost of installation when you go with a solar company too, which can save you more money after your upfront investment.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Park
Factors that Affect Solar Panel Costs in Monterey Park
There are many criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,470.The kind of solar equipment you choose can increase or decrease your cost 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. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Monterey Park average.
Solar Financing Terms
Most solar companies in Monterey Park provide solar loans, which reduce the initial cost of installing solar panels.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can impact your pricing. Monterey Park’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fits within your budget.
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 | $26,729 | 9.0 years |
| 8 kW | $3.54 | $19,821 | $36,027 | 8.9 years |
| 10 kW | $3.47 | $24,290 | $45,519 | 8.7 years |
| 12 kW | $3.40 | $28,565 | $55,206 | 8.5 years |
| 14 kW | $3.33 | $32,646 | $65,087 | 8.4 years |
| 16 kW | $3.26 | $36,532 | $75,163 | 8.2 years |
| 18 kW | $3.19 | $40,224 | $85,432 | 8.0 years |
| 20 kW | $3.12 | $43,722 | $95,896 | 7.8 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Warranty: If you’re worried about the endurance of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When looking over your solar company’s contract, ask for clarification 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.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model 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 ask for their list of offerings before making your decision.
- Installation Process: When making the switch to solar power, it’s crucial to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
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 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 $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my home value?
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 Park is currently $872,332, which means you can expect a value of about $35,766 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Monterey Park is a rewarding 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 should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.