Solar Panel Cost Guide in Thousand Oaks, CA (2023 Update)
- Thousand Oaks Solar Installation Cost: $5,474
- 25-Year Savings: $13,295
- Payback Period: 7.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Thousand Oaks
Find out what the average cost of solar panels are in Thousand Oaks.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Thousand Oaks, the typical cost of solar panels is 2.73 per watt. Using this figure, a typical 2.9-kW system would cost about $5,465 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely differ based on factors unique to your home and what company you go with. With typical savings of about $25,000 on power bills over 20 years, many homeowners in Thousand Oaks find installing solar panels can pay off big.
To get a free estimate from a pre-vetted solar installer in Thousand Oaks, you can click the button below.
Solar savings over time in Thousand Oaks
| Year | Return on Investment |
|---|---|
| 1 years | $-5,411 |
| 3 years | $-5,286 |
| 5 years | $-5,161 |
| 7 years | $-5,036 |
| 9 years | $-4,911 |
| 11 years | $-4,786 |
| 13 years | $-4,661 |
| 15 years | $-4,535 |
| 17 years | $-4,410 |
| 19 years | $-4,285 |
| 21 years | $-4,160 |
| 23 years | $-4,035 |
| 25 years | $-3,910 |
Top Solar Installers in Thousand Oaks
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
If you're searching for a solar company in Thousand Oaks, we've 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 Thousand Oaks
Factors that Affect Solar Panel Costs in Thousand Oaks
For many Thousand Oaks homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Thousand Oaks, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel 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, you can expect your total to increase by about $2,730. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Thousand Oaks average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to add 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also fits within your budget.
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 | $27,391 | 7.6 years |
| 8 kW | $2.78 | $15,594 | $36,827 | 7.4 years |
| 10 kW | $2.73 | $19,110 | $46,416 | 7.3 years |
| 12 kW | $2.68 | $22,473 | $56,157 | 7.1 years |
| 14 kW | $2.62 | $25,684 | $66,052 | 7.0 years |
| 16 kW | $2.57 | $28,741 | $76,100 | 6.9 years |
| 18 kW | $2.51 | $31,646 | $86,300 | 6.7 years |
| 20 kW | $2.46 | $34,398 | $96,653 | 6.6 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The model of solar panel you'd like to get plays a part in which company you should opt for, since different companies have different panels.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Thousand Oaks, CA Solar Cost FAQs
What is the average cost of installing solar panels in Thousand Oaks?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 above-average energy needs. On the other hand, 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?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Thousand Oaks is currently $685,241, which means you could be looking at a value of about $28,095 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Thousand Oaks is a fruitful investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.