Solar Panel Cost Guide in Rancho Santa Margarita, CA (2023 Update)
- Rancho Santa Margarita Solar Installation Cost: $5,512
- 25-Year Savings: $15,088
- Payback Period: 6.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rancho Santa Margarita
Let's have a look at the average cost of solar in Rancho Santa Margarita.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rancho Santa Margarita, the average cost of solar panels is 2.73 per watt. Since a 2.9-kW system is needed to cover the energy costs of a typical home in Rancho Santa Margarita, the average price of going solar will be about $5,504 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Rancho Santa Margarita homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Rancho Santa Margarita can save about $27,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Rancho Santa Margarita
| Year | Return on Investment |
|---|---|
| 1 years | $-4,011 |
| 3 years | $-1,009 |
| 5 years | $1,993 |
| 7 years | $4,995 |
| 9 years | $7,997 |
| 11 years | $10,999 |
| 13 years | $14,001 |
| 15 years | $17,003 |
| 17 years | $20,005 |
| 19 years | $23,007 |
| 21 years | $26,009 |
| 23 years | $29,011 |
| 25 years | $32,013 |
Top Solar Installers in Rancho Santa Margarita
When making the switch to solar, many homeowners decide to use a solar installer since overseeing your solar installation yourself can be a time-consuming project. 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 home.
There are a number of licensed solar professionals that can take care of your solar installation project. 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
See all of the solar companies in Rancho Santa Margarita
Factors that Affect Solar Panel Costs in Rancho Santa Margarita
For many Rancho Santa Margarita homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Rancho Santa Margarita, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need, 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 $2,730. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Rancho Santa Margarita homeowners opt to finance their solar panel systems to make going solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Rancho Santa Margarita have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $30,928 | 7.0 years |
| 8 kW | $2.78 | $15,594 | $41,543 | 6.8 years |
| 10 kW | $2.73 | $19,110 | $52,311 | 6.7 years |
| 12 kW | $2.68 | $22,473 | $63,232 | 6.6 years |
| 14 kW | $2.62 | $25,684 | $74,306 | 6.4 years |
| 16 kW | $2.57 | $28,741 | $85,532 | 6.3 years |
| 18 kW | $2.51 | $31,646 | $96,912 | 6.2 years |
| 20 kW | $2.46 | $34,398 | $108,444 | 6.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly influences your costs and your system's durability and efficiency, 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: Different companies carry different brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Rancho Santa Margarita, CA Solar Cost FAQs
What is the average cost of installing solar panels in Rancho Santa Margarita?
The average cost of solar panels in Rancho Santa Margarita 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get between 20 and 35 panels to account for 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.