Solar Panel Cost Guide in Parkway, CA (2023 Update)
- Parkway Solar Installation Cost: $7,491
- 25-Year Savings: $14,686
- Payback Period: 9.1 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Parkway
Let's have a look at the average cost of solar in Parkway.
The national average cost of solar panels is $2.66 per watt, but in Parkway it's 2.73 per watt.The average solar panel system size in Parkway is around 3.1 kilowatts, meaning a cost of about $5,886 for a solar installation, or $8,417 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Parkway depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.Even with the large upfront cost, the average Parkway homeowner can save around $25,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a vetted solar installer in Parkway, you can click the button below.
Solar savings over time in Parkway
| Year | Return on Investment |
|---|---|
| 1 years | $-6,497 |
| 3 years | $-4,510 |
| 5 years | $-2,522 |
| 7 years | $-535 |
| 9 years | $1,453 |
| 11 years | $3,440 |
| 13 years | $5,428 |
| 15 years | $7,415 |
| 17 years | $9,402 |
| 19 years | $11,390 |
| 21 years | $13,377 |
| 23 years | $15,365 |
| 25 years | $17,352 |
Top Solar Installers in Parkway
Putting up solar panels on your own can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Parkway
Factors that Affect Solar Panel Costs in Parkway
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use 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.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Parkway provide solar loans, which reduce the initial cost of installing solar.You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Parkway, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $24,880 | 9.5 years |
| 8 kW | $3.54 | $19,821 | $33,562 | 9.3 years |
| 10 kW | $3.47 | $24,290 | $42,438 | 9.1 years |
| 12 kW | $3.40 | $28,565 | $51,509 | 8.9 years |
| 14 kW | $3.33 | $32,646 | $60,774 | 8.7 years |
| 16 kW | $3.26 | $36,532 | $70,233 | 8.6 years |
| 18 kW | $3.19 | $40,224 | $79,887 | 8.4 years |
| 20 kW | $3.12 | $43,722 | $89,735 | 8.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
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 Parkway, CA Solar Cost FAQs
How much does it cost to install solar panels in Parkway?
This is a difficult 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.