Solar Panel Cost Guide in Santa Monica, CA (2024 Update)
- Santa Monica Solar Installation Cost: $6,920
- 25-Year Savings: $18,924
- Payback Period: 7.1 Years
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Average Cost of Solar Panels in Santa Monica
We break down average solar pricing in Santa Monica.
The average cost of a solar panel system in Santa Monica is 3 per watt.Because a 2.8-kW system is needed to cover the energy needs of a typical home in Santa Monica, the average price of going solar will be about $6,920 after claiming the federal solar tax credit of 0.
How much you pay can be higher or lower than the average in Santa Monica based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $33,000 on energy bills over 20 years, many homeowners in Santa Monica find investing in solar can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Santa Monica
| Year | Return on Investment |
|---|---|
| 1 years | $-5,578 |
| 3 years | $-2,894 |
| 5 years | $-210 |
| 7 years | $2,474 |
| 9 years | $5,158 |
| 11 years | $7,842 |
| 13 years | $10,526 |
| 15 years | $13,211 |
| 17 years | $15,895 |
| 19 years | $18,579 |
| 21 years | $21,263 |
| 23 years | $23,947 |
| 25 years | $26,631 |
Top Solar Installers in Santa Monica
Installing solar panels by yourself can be a challenging undertaking, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
There are a number of 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 Santa Monica
Factors that Affect Solar Panel Costs in Santa Monica
Even though the average cost of a solar system in Santa Monica is $6,920, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,470 per kilowatt in Santa Monica.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Santa Monica to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Santa Monica, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $36,162 | 7.4 years |
| 8 kW | $3.54 | $19,821 | $48,605 | 7.2 years |
| 10 kW | $3.47 | $24,290 | $61,242 | 7.1 years |
| 12 kW | $3.40 | $28,565 | $74,073 | 7.0 years |
| 14 kW | $3.33 | $32,646 | $87,099 | 6.8 years |
| 16 kW | $3.26 | $36,532 | $100,319 | 6.7 years |
| 18 kW | $3.19 | $40,224 | $113,733 | 6.5 years |
| 20 kW | $3.12 | $43,722 | $127,342 | 6.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
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 Santa Monica, CA Solar Cost FAQs
How much does it cost to install solar panels in Santa Monica?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Santa Monica?
You can’t get solar panels for free in Santa Monica. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,710.64 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 continue to use 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.