Solar Panel Cost Guide in Thousand Oaks, CA (2024 Update)
- Thousand Oaks Solar Installation Cost: $6,958
- 25-Year Savings: $13,295
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Thousand Oaks
Find out what the average cost of installing solar panels is in Thousand Oaks.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Thousand Oaks, the average cost of solar panels is 3 per watt.To account for the typical energy usage of the average home in Thousand Oaks, most homeowners require a 2.9-kilowatt system. Using the figure above, a solar installation costs around $6,958, or $9,950 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Thousand Oaks based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Even with the significant upfront cost, the average Thousand Oaks homeowner can save around $25,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Thousand Oaks
| Year | Return on Investment |
|---|---|
| 1 years | $-5,773 |
| 3 years | $-3,403 |
| 5 years | $-1,034 |
| 7 years | $1,336 |
| 9 years | $3,705 |
| 11 years | $6,075 |
| 13 years | $8,444 |
| 15 years | $10,814 |
| 17 years | $13,183 |
| 19 years | $15,553 |
| 21 years | $17,922 |
| 23 years | $20,292 |
| 25 years | $22,661 |
Top Solar Installers in Thousand Oaks
Although it's possible to install solar panels by yourself, it involves extra energy and know-how. That's one of the reasons most people choose a solar panel installer. Plus, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Thousand Oaks
Factors that Affect Solar Panel Costs in Thousand Oaks
The cost of installing a solar system in Thousand Oaks can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Thousand Oaks, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,470 for each additional kilowatt you need.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 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Thousand Oaks to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.Even though solar loans make going solar more accessible for Thousand Oaks homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Thousand Oaks is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, 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 | $3.61 | $15,157 | $24,158 | 9.6 years |
| 8 kW | $3.54 | $19,821 | $32,600 | 9.5 years |
| 10 kW | $3.47 | $24,290 | $41,236 | 9.3 years |
| 12 kW | $3.40 | $28,565 | $50,066 | 9.1 years |
| 14 kW | $3.33 | $32,646 | $59,090 | 8.9 years |
| 16 kW | $3.26 | $36,532 | $68,309 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $77,722 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $87,329 | 8.3 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a good 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.
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Thousand Oaks, CA Solar Cost FAQs
What is the average cost of installing solar panels in Thousand Oaks?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,350 for a 5-kW system and $34,700 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 above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Thousand Oaks?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.