Solar Panel Cost Guide in Rio del Mar, CA (2023 Update)
- Rio del Mar Solar Installation Cost: $5,872
- 25-Year Savings: $20,459
- Payback Period: 5.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rio del Mar
Find out what the average cost of solar panel installation is in Rio del Mar.
In Rio del Mar, solar panels cost about 2.73 per watt on average. The average solar panel system size in Rio del Mar is around 3.1 kilowatts, meaning a cost of about $5,867 for a solar installation, or $8,390 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $33,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Rio del Mar
| Year | Return on Investment |
|---|---|
| 1 years | $-4,334 |
| 3 years | $-1,258 |
| 5 years | $1,818 |
| 7 years | $4,893 |
| 9 years | $7,969 |
| 11 years | $11,045 |
| 13 years | $14,121 |
| 15 years | $17,197 |
| 17 years | $20,272 |
| 19 years | $23,348 |
| 21 years | $26,424 |
| 23 years | $29,500 |
| 25 years | $32,576 |
Top Solar Installers in Rio del Mar
When making the switch to solar, many homeowners decide to go with a solar installation company since installing solar panels yourself can be a time-consuming project. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you're looking for a solar company in Rio del Mar, the EcoWatch team has organized 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
See all of the solar companies in Rio del Mar
Factors that Affect Solar Panel Costs in Rio del Mar
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Rio del Mar: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require 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. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Rio del Mar, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Rio del Mar provide solar loans, which reduce the initial cost of installing solar panels. It's a good idea to factor 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 off the loan.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of renewable energy solutions in Rio del Mar, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Rio del Mar know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $39,491 | 5.8 years |
| 8 kW | $2.78 | $15,594 | $52,961 | 5.7 years |
| 10 kW | $2.73 | $19,110 | $66,583 | 5.6 years |
| 12 kW | $2.68 | $22,473 | $80,359 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $94,287 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $108,368 | 5.2 years |
| 18 kW | $2.51 | $31,646 | $122,602 | 5.1 years |
| 20 kW | $2.46 | $34,398 | $136,989 | 5.0 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 pick the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Before you sign a contract with a solar company, make sure you 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 the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
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 Rio del Mar, CA Solar Cost FAQs
How much does it cost to install solar panels in Rio del Mar?
The average cost of solar panels in Rio del Mar 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Rio del Mar?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 get the most savings.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rio del Mar is currently $624,945, which means you can look forward to a value of about $25,623 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Rio del Mar is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger level 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.