Solar Panel Cost Guide in Lenwood, CA (2024 Update)
- Lenwood Solar Installation Cost: $6,973
- 25-Year Savings: $13,283
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Lenwood
We go over average solar pricing in Lenwood.
Although the national average of solar panels is $2.66 per watt, solar panels in Lenwood typically cost around 3.The average solar panel system size in Lenwood is around 2.9 kilowatts, meaning a cost of about $6,973 for a solar installation, or $9,971 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Lenwood based on several factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $25,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Lenwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lenwood
| Year | Return on Investment |
|---|---|
| 1 years | $-5,788 |
| 3 years | $-3,419 |
| 5 years | $-1,049 |
| 7 years | $1,320 |
| 9 years | $3,690 |
| 11 years | $6,059 |
| 13 years | $8,429 |
| 15 years | $10,798 |
| 17 years | $13,168 |
| 19 years | $15,537 |
| 21 years | $17,907 |
| 23 years | $20,276 |
| 25 years | $22,646 |
Top Solar Installers in Lenwood
Installing solar panels on your own can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Lenwood
Factors that Affect Solar Panel Costs in Lenwood
The cost of installing a solar system in Lenwood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Lenwood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,470 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 more 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
Many homeowners find the average cost of solar in Lenwood to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Lenwood, you’ll have many options to choose from, but each comes at different price points for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, 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 | $24,071 | 9.7 years |
| 8 kW | $3.54 | $19,821 | $32,483 | 9.5 years |
| 10 kW | $3.47 | $24,290 | $41,090 | 9.3 years |
| 12 kW | $3.40 | $28,565 | $49,891 | 9.1 years |
| 14 kW | $3.33 | $32,646 | $58,886 | 8.9 years |
| 16 kW | $3.26 | $36,532 | $68,076 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $77,459 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $87,038 | 8.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should opt for, 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
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 Lenwood, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lenwood?
The average cost of solar panels in Lenwood is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lenwood?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Lenwood?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces 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 long do solar panels last in Lenwood?
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 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.