Solar Panel Cost Guide in Newport Beach, CA (2024 Update)
- Newport Beach Solar Installation Cost: $7,006
- 25-Year Savings: $13,791
- Payback Period: 9.1 Years
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Average Cost of Solar Panels in Newport Beach
Find out what the average cost of solar panels are in Newport Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in Newport Beach typically cost around 3.Since a 2.9-kW system is needed to cover the energy consumption of a typical home in Newport Beach, the average price of going solar will be about $7,006 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what company you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $25,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Newport Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-5,768 |
| 3 years | $-3,293 |
| 5 years | $-818 |
| 7 years | $1,656 |
| 9 years | $4,131 |
| 11 years | $6,606 |
| 13 years | $9,081 |
| 15 years | $11,556 |
| 17 years | $14,031 |
| 19 years | $16,506 |
| 21 years | $18,981 |
| 23 years | $21,456 |
| 25 years | $23,931 |
Top Solar Installers in Newport Beach
Installing solar panels by yourself can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Another advantage of using a solar installer is that they can help you maximize your investment by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Newport Beach
Factors that Affect Solar Panel Costs in Newport Beach
The cost of installing a solar system in Newport Beach 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 company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,470.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Newport Beach average.
Solar Financing Terms
Many homeowners find the average cost of solar in Newport Beach to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, 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 renewable energy solutions in Newport Beach, you’ll have lots of options to choose from, but each comes at different 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 cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fit into 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 | $24,999 | 9.4 years |
| 8 kW | $3.54 | $19,821 | $33,720 | 9.3 years |
| 10 kW | $3.47 | $24,290 | $42,636 | 9.1 years |
| 12 kW | $3.40 | $28,565 | $51,746 | 8.9 years |
| 14 kW | $3.33 | $32,646 | $61,051 | 8.7 years |
| 16 kW | $3.26 | $36,532 | $70,550 | 8.5 years |
| 18 kW | $3.19 | $40,224 | $80,243 | 8.3 years |
| 20 kW | $3.12 | $43,722 | $90,130 | 8.2 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 select the right company for you, here are some tips to keep in mind:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: Read the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which installer you should go with, since different companies have access to different panels.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Newport Beach, CA Solar Cost FAQs
How much does it cost to install solar panels in Newport Beach?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Newport Beach?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Newport Beach?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.