Solar Panel Cost Guide in Banning, CA (2024 Update)
- Banning Solar Installation Cost: $6,803
- 25-Year Savings: $15,569
- Payback Period: 8.1 Years
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Average Cost of Solar Panels in Banning
Here’s how much it might cost to switch to solar power in Banning.
While the national average of solar panels is $2.66 per watt, solar panels in Banning typically cost around 3.Since a 2.8-kW system is needed to cover the energy needs of a typical home in Banning, the average price of going solar will be about $6,803 after claiming the federal solar tax credit of 0.
These figures are just averages, and how much solar costs for you will most likely look different based on your specific situation and what company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $28,000 in savings on energy bills over 20 years.
To get a free estimate from a highly rated solar installer in Banning, you can click the button below.
Solar savings over time in Banning
| Year | Return on Investment |
|---|---|
| 1 years | $-5,619 |
| 3 years | $-3,249 |
| 5 years | $-880 |
| 7 years | $1,490 |
| 9 years | $3,859 |
| 11 years | $6,229 |
| 13 years | $8,598 |
| 15 years | $10,968 |
| 17 years | $13,337 |
| 19 years | $15,707 |
| 21 years | $18,076 |
| 23 years | $20,446 |
| 25 years | $22,815 |
Top Solar Installers in Banning
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make converting to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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
See all of the solar companies in Banning
Factors that Affect Solar Panel Costs in Banning
For many Banning homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Banning, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,470.There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much 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 significant investment. That’s why many Banning homeowners opt to finance their solar panel systems to offset upfront costs.Even though solar loans make going solar more accessible for Banning homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to 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 down 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 | $29,660 | 8.5 years |
| 8 kW | $3.54 | $19,821 | $39,935 | 8.3 years |
| 10 kW | $3.47 | $24,290 | $50,404 | 8.1 years |
| 12 kW | $3.40 | $28,565 | $61,068 | 8.0 years |
| 14 kW | $3.33 | $32,646 | $71,926 | 7.8 years |
| 16 kW | $3.26 | $36,532 | $82,979 | 7.6 years |
| 18 kW | $3.19 | $40,224 | $94,226 | 7.5 years |
| 20 kW | $3.12 | $43,722 | $105,667 | 7.3 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 have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Read the contract terms carefully to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- 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 considerable role in the company you go with.
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
EcoWatch's Banning, CA Solar Cost FAQs
What is the average cost of installing solar panels in Banning?
This is a tough question to answer exactly, because the cost depends on many 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Banning?
You can’t get solar panels for free in Banning. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Banning have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 cover 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.