Solar Panel Cost Guide in Canyon Lake, CA (2024 Update)
- Canyon Lake Solar Installation Cost: $6,803
- 25-Year Savings: $13,417
- Payback Period: 9.1 Years
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Average Cost of Solar Panels in Canyon Lake
Find out what the average cost of solar panels are in Canyon Lake.
In Canyon Lake, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Canyon Lake, most homeowners require a 2.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $6,803, or $9,728 before the federal solar tax credit of 0 is applied.
These figures are just averages, and your own solar costs will differ based on your specific situation and what company you want to go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $25,000 over 20 years on power bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Canyon Lake
| 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 Canyon Lake
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your switch to solar power much easier. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
The cost of installing a solar system in Canyon Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require 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.The kind of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Canyon Lake, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $25,050 | 9.4 years |
| 8 kW | $3.54 | $19,821 | $33,789 | 9.2 years |
| 10 kW | $3.47 | $24,290 | $42,722 | 9.1 years |
| 12 kW | $3.40 | $28,565 | $51,849 | 8.9 years |
| 14 kW | $3.33 | $32,646 | $61,171 | 8.7 years |
| 16 kW | $3.26 | $36,532 | $70,686 | 8.5 years |
| 18 kW | $3.19 | $40,224 | $80,397 | 8.3 years |
| 20 kW | $3.12 | $43,722 | $90,301 | 8.2 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable 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 research your installer’s reputation is by reading reviews.
- Warranty: If you’re worried about the durability of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 large role in the company you hire.
- 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 expectations you should have about the installation process.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Canyon Lake, CA Solar Cost FAQs
How much does it cost to install solar panels in Canyon Lake?
The average cost of solar panels in Canyon Lake 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 stuff 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?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Canyon Lake is currently $677,488, which means you can expect a value of about $27,777 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Canyon Lake is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.