Solar Panel Cost Guide in Thousand Palms, CA (2023 Update)
- Thousand Palms Solar Installation Cost: $5,352
- 25-Year Savings: $13,468
- Payback Period: 7.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Thousand Palms
Find out what the average cost of solar panel installation is in Thousand Palms.
In Thousand Palms, solar panels cost about 2.73 per watt on average. The average Thousand Palms homeowner needs a 2.8-kilowatt system, which would cost about $5,351 with the federal tax credit, or $7,652 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Thousand Palms homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $26,000 over 20 years on utility 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 Thousand Palms
| Year | Return on Investment |
|---|---|
| 1 years | $-4,168 |
| 3 years | $-1,798 |
| 5 years | $571 |
| 7 years | $2,941 |
| 9 years | $5,310 |
| 11 years | $7,680 |
| 13 years | $10,049 |
| 15 years | $12,419 |
| 17 years | $14,788 |
| 19 years | $17,158 |
| 21 years | $19,527 |
| 23 years | $21,897 |
| 25 years | $24,266 |
Top Solar Installers in Thousand Palms
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar panel installer can make swapping over to solar power much easier. Another perk of using a solar installer is that they can help you make the most of your ROI by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
Working with a vetted solar installer can help you make the most of your investment in solar. 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
See all of the solar companies in Thousand Palms
Factors that Affect Solar Panel Costs in Thousand Palms
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Thousand Palms: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space 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 raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Thousand Palms, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating in Thousand Palms, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $28,392 | 7.4 years |
| 8 kW | $2.78 | $15,594 | $38,162 | 7.3 years |
| 10 kW | $2.73 | $19,110 | $48,085 | 7.1 years |
| 12 kW | $2.68 | $22,473 | $58,161 | 7.0 years |
| 14 kW | $2.62 | $25,684 | $68,389 | 6.8 years |
| 16 kW | $2.57 | $28,741 | $78,770 | 6.7 years |
| 18 kW | $2.51 | $31,646 | $89,305 | 6.5 years |
| 20 kW | $2.46 | $34,398 | $99,992 | 6.4 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. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you're concerned about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
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 Palms, CA Solar Cost FAQs
What is the average cost of installing solar panels in Thousand Palms?
This is a hard 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Thousand Palms is currently $330,578, so you could be looking at a value of about $13,554 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Thousand Palms is a rewarding investment.
How long do solar panels last in Thousand Palms?
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 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.