Solar Panel Cost Guide in Thousand Oaks, CA (2024 Update)
- Thousand Oaks Solar Installation Cost: $6,958
- 25-Year Savings: $13,295
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Thousand Oaks
Find out what the average cost of installing solar panels is in Thousand Oaks.
The average cost of solar panels in Thousand Oaks is 3 per watt.To cover the typical energy usage of the average home in Thousand Oaks, most homeowners require a 2.9-kilowatt system. Using the figure above, a solar installation costs about $6,958, or $9,950 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the large upfront cost, the average Thousand Oaks homeowner can save about $25,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a pre-vetted solar installation company in Thousand Oaks, you can click the button below.
Solar savings over time in Thousand Oaks
| Year | Return on Investment |
|---|---|
| 1 years | $-5,773 |
| 3 years | $-3,403 |
| 5 years | $-1,034 |
| 7 years | $1,336 |
| 9 years | $3,705 |
| 11 years | $6,075 |
| 13 years | $8,444 |
| 15 years | $10,814 |
| 17 years | $13,183 |
| 19 years | $15,553 |
| 21 years | $17,922 |
| 23 years | $20,292 |
| 25 years | $22,661 |
Top Solar Installers in Thousand Oaks
Although you can install solar panels by yourself, it takes extra effort and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
Working with a vetted solar installer 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 Thousand Oaks
Factors that Affect Solar Panel Costs in Thousand Oaks
There are several criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need for your home, 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 nearly $3,470. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Thousand Oaks, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Thousand Oaks homeowners opt to finance their solar panel systems to offset upfront costs.It’s a good idea to add 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 keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Thousand Oaks, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $24,158 | 9.6 years |
| 8 kW | $3.54 | $19,821 | $32,600 | 9.5 years |
| 10 kW | $3.47 | $24,290 | $41,236 | 9.3 years |
| 12 kW | $3.40 | $28,565 | $50,066 | 9.1 years |
| 14 kW | $3.33 | $32,646 | $59,090 | 8.9 years |
| 16 kW | $3.26 | $36,532 | $68,309 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $77,722 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $87,329 | 8.3 years |
How to Save on Solar Panels
There are a lot of companies available in Thousand Oaks, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should choose, since different companies provide different panels.
- Reputation: Companies that have been operating for many years 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 service, such as part repairs and replacements.
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
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 Thousand Oaks, CA Solar Cost FAQs
What is the average cost of installing solar panels in Thousand Oaks?
This is a tough question to answer precisely, because the cost depends on many 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 more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
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 your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Thousand Oaks?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces 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 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.