Solar Panel Cost Guide in Monterey Park, CA (2024 Update)
- Monterey Park Solar Installation Cost: $6,920
- 25-Year Savings: $14,444
- Payback Period: 8.7 Years
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Average Cost of Solar Panels in Monterey Park
Find out what the average cost of solar panels are in Monterey Park.
The national average cost of solar panels is $2.66 per watt, but in Monterey Park it’s 3 per watt.To account for the typical energy usage of the average home in Monterey Park, most homeowners require a 2.8-kilowatt system. Using the figure above, a solar installation costs around $6,920, or $9,896 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with.With typical savings of about $27,000 on power bills over 20 years, many homeowners in Monterey Park find going solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Monterey Park for a quote for your home.
Solar savings over time in Monterey Park
| 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 Monterey Park
When making the switch to solar, many homeowners opt to go with a solar company since installing solar panels yourself can be a challenging project. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
If you're searching for a solar installer in Monterey Park, we've organized a list of our top suggestions here:
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 Monterey Park
Factors that Affect Solar Panel Costs in Monterey Park
For many Monterey Park homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Monterey Park, 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
When it comes to estimating the price of a solar energy system in Monterey Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,470 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install 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
If paying for a solar system in cash is difficult, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Monterey Park, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $26,729 | 9.0 years |
| 8 kW | $3.54 | $19,821 | $36,027 | 8.9 years |
| 10 kW | $3.47 | $24,290 | $45,519 | 8.7 years |
| 12 kW | $3.40 | $28,565 | $55,206 | 8.5 years |
| 14 kW | $3.33 | $32,646 | $65,087 | 8.4 years |
| 16 kW | $3.26 | $36,532 | $75,163 | 8.2 years |
| 18 kW | $3.19 | $40,224 | $85,432 | 8.0 years |
| 20 kW | $3.12 | $43,722 | $95,896 | 7.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- 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 considerable role in the company you go with.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Monterey Park, CA Solar Cost FAQs
What is the average cost of installing solar panels in Monterey Park?
The average cost of solar panels in Monterey Park 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 certain factors like the kind 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?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Monterey Park?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.