Solar Panel Cost Guide in Parkway, CA (Mar 2023)
- Parkway Solar Installation Cost: $5,886
- 25-Year Savings: $14,693
- Payback Period: 7.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Parkway
See how much it might cost to install solar panels in Parkway.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Parkway, the average cost of solar panels is 2.73 per watt. The average Parkway homeowner needs a 3.1-kilowatt system, which would cost about $5,886 with the federal tax credit, or $8,417 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with. For many homeowners, the upfront investment in solar power is worth paying. On average Parkway homeowners see about $25,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Parkway
| Year | Return on Investment |
|---|---|
| 1 years | $-5,063 |
| 3 years | $-3,416 |
| 5 years | $-1,770 |
| 7 years | $-124 |
| 9 years | $1,523 |
| 11 years | $3,169 |
| 13 years | $4,815 |
| 15 years | $6,462 |
| 17 years | $8,108 |
| 19 years | $9,754 |
| 21 years | $11,401 |
| 23 years | $13,047 |
| 25 years | $14,693 |
Top Solar Installers in Parkway
Many homeowners opt for a solar installer since trying to install solar panels on your own can be challenging. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Parkway
Factors that Affect Solar Panel Costs in Parkway
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately ascertain 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 are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Parkway to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that offers the products, warranties and services you're looking for and also fit into 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 | $2.84 | $11,925 | $28,112 | 7.4 years |
| 8 kW | $2.78 | $15,594 | $37,789 | 7.3 years |
| 10 kW | $2.73 | $19,110 | $47,618 | 7.2 years |
| 12 kW | $2.68 | $22,473 | $57,601 | 7.0 years |
| 14 kW | $2.62 | $25,684 | $67,736 | 6.9 years |
| 16 kW | $2.57 | $28,741 | $78,024 | 6.7 years |
| 18 kW | $2.51 | $31,646 | $88,465 | 6.6 years |
| 20 kW | $2.46 | $34,398 | $99,059 | 6.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: A 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: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Well-established companies 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.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Parkway, CA Solar Cost FAQs
What is the average cost of installing solar panels in Parkway?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Parkway?
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 can't take advantage of 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.
Can you sell solar power back to the grid in Parkway?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.