Solar Panel Cost Guide in Lomita, CA (2024 Update)
- Lomita Solar Installation Cost: $6,920
- 25-Year Savings: $22,698
- Payback Period: 8.4 Years
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Average Cost of Solar Panels in Lomita
Let’s have a look at the average cost of solar panels in Lomita.
The national average cost of solar panels is $2.66 per watt, but in Lomita it’s 3 per watt.To cover the typical energy needs of the average home in Lomita, most homeowners require a 2.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $6,920, or $9,896 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Lomita homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Lomita can save around $28,000 on their energy bills over 20 years.
To receive a free estimate from a vetted solar installer in Lomita, you can click the button below.
Solar savings over time in Lomita
| Year | Return on Investment |
|---|---|
| 1 years | $-5,736 |
| 3 years | $-3,366 |
| 5 years | $-997 |
| 7 years | $1,373 |
| 9 years | $3,742 |
| 11 years | $6,112 |
| 13 years | $8,481 |
| 15 years | $10,851 |
| 17 years | $13,220 |
| 19 years | $15,590 |
| 21 years | $17,959 |
| 23 years | $20,329 |
| 25 years | $22,698 |
Top Solar Installers in Lomita
Although you can install solar panels on your own, it involves extra effort and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Another perk of going with a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Lomita
Factors that Affect Solar Panel Costs in Lomita
For many Lomita homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Lomita, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,470. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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 energy bills over time, but they can also be a big investment. That’s why many Lomita homeowners decide to finance their solar panel systems to make paying for solar more affordable.While solar loans make going solar more accessible for Lomita homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Lomita know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $28,301 | 8.7 years |
| 8 kW | $3.54 | $19,821 | $38,123 | 8.6 years |
| 10 kW | $3.47 | $24,290 | $48,140 | 8.4 years |
| 12 kW | $3.40 | $28,565 | $58,351 | 8.2 years |
| 14 kW | $3.33 | $32,646 | $68,756 | 8.0 years |
| 16 kW | $3.26 | $36,532 | $79,355 | 7.9 years |
| 18 kW | $3.19 | $40,224 | $90,149 | 7.7 years |
| 20 kW | $3.12 | $43,722 | $101,137 | 7.5 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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 Lomita, CA Solar Cost FAQs
What is the average cost of installing solar panels in Lomita?
The average cost of solar panels in Lomita 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 such as the kind 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 Lomita?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback 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 way to go if you want to get the most savings.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lomita is currently $871,388, which means you can expect a value of about $35,727 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lomita is a rewarding investment.
How many solar panels do I need to power 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 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 buy 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.