Solar Panel Cost Guide in Waterford, CA (2023 Update)
- Waterford Solar Installation Cost: $5,710
- 25-Year Savings: $19,826
- Payback Period: 5.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waterford
Here's how much it might cost to switch to solar power in Waterford.
In Waterford, solar panels cost about 2.73 per watt on average. The average solar panel system size in Waterford is around 3.0 kilowatts, meaning a cost of about $5,714 for a solar installation, or $8,171 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you choose to go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Waterford see about $32,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a customized estimate.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-4,172 |
| 3 years | $-1,096 |
| 5 years | $1,980 |
| 7 years | $5,055 |
| 9 years | $8,131 |
| 11 years | $11,207 |
| 13 years | $14,283 |
| 15 years | $17,359 |
| 17 years | $20,434 |
| 19 years | $23,510 |
| 21 years | $26,586 |
| 23 years | $29,662 |
| 25 years | $32,738 |
Top Solar Installers in Waterford
Although you can install solar panels yourself, it involves extra energy and knowledge. That's why almost all homeowners choose a solar panel installer. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Waterford
Factors that Affect Solar Panel Costs in Waterford
For many Waterford homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Waterford, 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
When it comes to estimating the cost of a solar panel system in Waterford, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Waterford, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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 installers in Waterford provide solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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 | $39,354 | 5.8 years |
| 8 kW | $2.78 | $15,594 | $52,777 | 5.7 years |
| 10 kW | $2.73 | $19,110 | $66,354 | 5.6 years |
| 12 kW | $2.68 | $22,473 | $80,083 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $93,965 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $108,000 | 5.3 years |
| 18 kW | $2.51 | $31,646 | $122,188 | 5.1 years |
| 20 kW | $2.46 | $34,398 | $136,529 | 5.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: The type of solar panel you'd like plays a role in which company you should go with, since different companies have different panels.
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 Waterford, CA Solar Cost FAQs
How much does it cost to install solar panels in Waterford?
This is a tough question to answer exactly, 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 be more expensive if you want other solar equipment or higher quality 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 cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,709.27 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.