Solar Panel Cost Guide in Palos Verdes Estates, CA (2024 Update)
- Palos Verdes Estates Solar Installation Cost: $6,920
- 25-Year Savings: $13,325
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Palos Verdes Estates
We go over average solar pricing in Palos Verdes Estates.
In Palos Verdes Estates, solar panels cost about 3 per watt on average.To cover the typical energy usage of the average home in Palos Verdes Estates, 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 go higher or lower than the average in Palos Verdes Estates based on a few factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the large initial cost, the average Palos Verdes Estates homeowner can save about $25,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Palos Verdes Estates
| 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 Palos Verdes Estates
Installing solar panels on your own can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
There are several 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 Palos Verdes Estates
Factors that Affect Solar Panel Costs in Palos Verdes Estates
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel 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, your total will most likely increase by nearly $3,470. The type 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. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Palos Verdes Estates average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Palos Verdes Estates, which can reduce, or in some cases totally eliminate, your upfront costs to make 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 a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Palos Verdes Estates is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices due to 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 major players.
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 | $24,370 | 9.6 years |
| 8 kW | $3.54 | $19,821 | $32,882 | 9.4 years |
| 10 kW | $3.47 | $24,290 | $41,589 | 9.2 years |
| 12 kW | $3.40 | $28,565 | $50,489 | 9.0 years |
| 14 kW | $3.33 | $32,646 | $59,584 | 8.8 years |
| 16 kW | $3.26 | $36,532 | $68,874 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $78,357 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $88,035 | 8.3 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably affects 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:
- Solar Panel Brands: The kind of solar panel you’d like plays a role in which installer you should go with, since different companies offer different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- 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 Palos Verdes Estates, CA Solar Cost FAQs
What is the average cost of installing solar panels in Palos Verdes Estates?
The average cost of solar panels in Palos Verdes Estates 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 certain factors like the model 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 Palos Verdes Estates?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,317.57 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.