Solar Panel Cost Guide in Lake Wildwood, CA (2024 Update)
- Lake Wildwood Solar Installation Cost: $7,488
- 25-Year Savings: $20,440
- Payback Period: 7.1 Years
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Average Cost of Solar Panels in Lake Wildwood
Find out how much it might cost to make the switch to solar in Lake Wildwood.
In Lake Wildwood, solar panels cost about 3 per watt on average.The average Lake Wildwood homeowner needs a 3.1-kilowatt system, which would cost about $7,488 with the federal tax credit, or $10,708 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you may differ based on your specific situation and what company you go with.Many homeowners find installing solar panels is a solid investment. The average homeowner in Lake Wildwood can save around $32,000 on their power bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Lake Wildwood, you can click the button below.
Solar savings over time in Lake Wildwood
| Year | Return on Investment |
|---|---|
| 1 years | $-5,950 |
| 3 years | $-2,875 |
| 5 years | $201 |
| 7 years | $3,277 |
| 9 years | $6,353 |
| 11 years | $9,429 |
| 13 years | $12,504 |
| 15 years | $15,580 |
| 17 years | $18,656 |
| 19 years | $21,732 |
| 21 years | $24,808 |
| 23 years | $27,883 |
| 25 years | $30,959 |
Top Solar Installers in Lake Wildwood
When going solar, many homeowners opt to hire a solar installation company since overseeing your solar installation yourself can be a difficult project. Another benefit of working with a solar installer is that they can help you make the most of your investment by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
There are several licensed solar professionals that can help you install your solar panels. 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
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 Lake Wildwood
Factors that Affect Solar Panel Costs in Lake Wildwood
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Lake Wildwood: 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 affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Lake Wildwood homeowners decide to finance their solar panel systems to make going solar more affordable.Even though solar loans make switching to solar energy more accessible for Lake Wildwood homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion 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 | $3.61 | $15,157 | $36,089 | 7.4 years |
| 8 kW | $3.54 | $19,821 | $48,508 | 7.3 years |
| 10 kW | $3.47 | $24,290 | $61,121 | 7.1 years |
| 12 kW | $3.40 | $28,565 | $73,928 | 7.0 years |
| 14 kW | $3.33 | $32,646 | $86,929 | 6.8 years |
| 16 kW | $3.26 | $36,532 | $100,125 | 6.7 years |
| 18 kW | $3.19 | $40,224 | $113,515 | 6.5 years |
| 20 kW | $3.12 | $43,722 | $127,099 | 6.4 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining 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 consider, including:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Lake Wildwood, CA Solar Cost FAQs
How much does it cost to install solar panels in Lake Wildwood?
The average cost of solar panels in Lake Wildwood is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Wildwood is currently $492,948, so you can look forward to a value of about $20,211 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lake Wildwood is a worthwhile investment.
How long do solar panels last in Lake Wildwood?
On average, solar panels can last 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 larger amount 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.