Solar Panel Cost Guide in Rancho Santa Margarita, CA (2024 Update)
- Rancho Santa Margarita Solar Installation Cost: $7,006
- 25-Year Savings: $15,088
- Payback Period: 8.5 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Rancho Santa Margarita
See how much it might cost to install solar panels in Rancho Santa Margarita.
The average cost of a solar panel system in Rancho Santa Margarita is 3 per watt.The average Rancho Santa Margarita homeowner needs a 2.9-kilowatt system, which would cost about $7,006 with the federal tax credit, or $10,019 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront investment in solar is worth paying. On average Rancho Santa Margarita homeowners see about $27,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar installer in Rancho Santa Margarita, you can click the button below.
Solar savings over time in Rancho Santa Margarita
Year | Return on Investment |
---|---|
1 years | $-5,505 |
3 years | $-2,503 |
5 years | $499 |
7 years | $3,501 |
9 years | $6,503 |
11 years | $9,505 |
13 years | $12,507 |
15 years | $15,509 |
17 years | $18,511 |
19 years | $21,513 |
21 years | $24,515 |
23 years | $27,517 |
25 years | $30,519 |
Top Solar Installers in Rancho Santa Margarita
Many homeowners opt for a solar panel installer since installing solar panels on your own can be a labor-intensive endeavor. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers in Rancho Santa Margarita:
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 Rancho Santa Margarita
Factors that Affect Solar Panel Costs in Rancho Santa Margarita
There are a number of factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,470 per kilowatt in Rancho Santa Margarita.The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Rancho Santa Margarita to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.It’s a good idea 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the massive popularity of sustainable energy solutions in Rancho Santa Margarita, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Rancho Santa Margarita have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $27,696 | 8.8 years |
8 kW | $3.54 | $19,821 | $37,316 | 8.7 years |
10 kW | $3.47 | $24,290 | $47,131 | 8.5 years |
12 kW | $3.40 | $28,565 | $57,140 | 8.3 years |
14 kW | $3.33 | $32,646 | $67,344 | 8.2 years |
16 kW | $3.26 | $36,532 | $77,742 | 8.0 years |
18 kW | $3.19 | $40,224 | $88,334 | 7.8 years |
20 kW | $3.12 | $43,722 | $99,120 | 7.7 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Rancho Santa Margarita, CA Solar Cost FAQs
What is the average cost of installing solar panels in Rancho Santa Margarita?
This is a difficult question to answer exactly, because the cost depends on a few different 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 other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Rancho Santa Margarita?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.