Solar Panel Cost Guide in Riverbank, CA (2023 Update)
- Riverbank Solar Installation Cost: $5,714
- 25-Year Savings: $20,526
- Payback Period: 5.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Riverbank
Let's have a look at the average cost of solar panels in Riverbank.
Although the national average of solar panels is $2.66 per watt, solar panels in Riverbank generally cost around 2.73. To account for the typical energy usage of the average home in Riverbank, most homeowners require a 3.0-kilowatt system. Using the figure above, a solar installation costs about $5,714, or $8,171 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Riverbank can save about $33,000 on their power bills over 20 years.
To receive a free estimate from a highly rated solar installer in Riverbank, you can click the button below.
Solar savings over time in Riverbank
| Year | Return on Investment |
|---|---|
| 1 years | $-4,664 |
| 3 years | $-2,565 |
| 5 years | $-466 |
| 7 years | $1,633 |
| 9 years | $3,733 |
| 11 years | $5,832 |
| 13 years | $7,931 |
| 15 years | $10,030 |
| 17 years | $12,129 |
| 19 years | $14,229 |
| 21 years | $16,328 |
| 23 years | $18,427 |
| 25 years | $20,526 |
Top Solar Installers in Riverbank
Trying to install solar panels by yourself can be a dangerous project, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're looking for a solar company in Riverbank, 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 Riverbank
Factors that Affect Solar Panel Costs in Riverbank
For many Riverbank homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Riverbank, 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 system you need for your household, 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 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 brand name like Tesla or SunPower, these often have a higher price tag 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. Plus, if you want extra 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 time, but they can also be a significant investment. That's why many Riverbank homeowners opt to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $2.84 | $11,925 | $40,767 | 5.7 years |
| 8 kW | $2.78 | $15,594 | $54,662 | 5.5 years |
| 10 kW | $2.73 | $19,110 | $68,709 | 5.4 years |
| 12 kW | $2.68 | $22,473 | $82,910 | 5.3 years |
| 14 kW | $2.62 | $25,684 | $97,263 | 5.2 years |
| 16 kW | $2.57 | $28,741 | $111,769 | 5.1 years |
| 18 kW | $2.51 | $31,646 | $126,429 | 5.0 years |
| 20 kW | $2.46 | $34,398 | $141,241 | 4.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you need plays a role in which installer you should go with, since different companies have access to different panels.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- 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 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Riverbank, CA Solar Cost FAQs
How much does it cost to install solar panels in Riverbank?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Riverbank?
Solar panels aren't free in Riverbank, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Riverbank?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Riverbank?
Although 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 choose to replace them after having them for that long or you can continue to use 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.