Solar Panel Cost Guide in Richmond, CA (2023 Update)
- Richmond Solar Installation Cost: $5,809
- 25-Year Savings: $20,522
- Payback Period: 5.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Richmond
See how much it might cost to install solar panels in Richmond.
The national average cost of solar panels is $2.66 per watt, but in Richmond it's 2.73 per watt. To account for the typical energy needs of the average home in Richmond, most homeowners require a 3.0-kilowatt system. Using the figure above, a solar installation costs around $5,809, or $8,307 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average Richmond homeowners see about $33,000 in savings on utility bills over 20 years.
To get a free estimate from a highly rated solar installation company in Richmond, you can click the button below.
Solar savings over time in Richmond
| Year | Return on Investment |
|---|---|
| 1 years | $-4,756 |
| 3 years | $-2,650 |
| 5 years | $-543 |
| 7 years | $1,563 |
| 9 years | $3,670 |
| 11 years | $5,776 |
| 13 years | $7,883 |
| 15 years | $9,989 |
| 17 years | $12,096 |
| 19 years | $14,202 |
| 21 years | $16,309 |
| 23 years | $18,415 |
| 25 years | $20,522 |
Top Solar Installers in Richmond
Although you can install solar panels on your own, it involves extra energy and knowledge. For that reason, most homeowners choose to go with a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your home.
If you're searching for a solar company in Richmond, we've compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Richmond
Factors that Affect Solar Panel Costs in Richmond
There are a number of criteria that can affect your solar system 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
When it comes to estimating the price of solar panels in Richmond, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Richmond, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Richmond have solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Richmond, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $39,971 | 5.7 years |
| 8 kW | $2.78 | $15,594 | $53,600 | 5.6 years |
| 10 kW | $2.73 | $19,110 | $67,382 | 5.5 years |
| 12 kW | $2.68 | $22,473 | $81,317 | 5.4 years |
| 14 kW | $2.62 | $25,684 | $95,405 | 5.3 years |
| 16 kW | $2.57 | $28,741 | $109,646 | 5.2 years |
| 18 kW | $2.51 | $31,646 | $124,039 | 5.1 years |
| 20 kW | $2.46 | $34,398 | $138,586 | 5.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company 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 tips to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Richmond, CA Solar Cost FAQs
How much does it cost to install solar panels in Richmond?
The average cost of solar panels in Richmond is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Richmond?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Richmond?
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 their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.