Solar Panel Cost Guide in Canyon Lake, CA (2024 Update)
- Canyon Lake Solar Installation Cost: $6,803
- 25-Year Savings: $13,417
- Payback Period: 9.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Canyon Lake
Find out what the average cost of solar panels are in Canyon Lake.
In Canyon Lake, solar panels cost about 3 per watt on average.Using this figure, a typical 2.8-kW system would cost about $6,803 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $25,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-5,619 |
| 3 years | $-3,249 |
| 5 years | $-880 |
| 7 years | $1,490 |
| 9 years | $3,859 |
| 11 years | $6,229 |
| 13 years | $8,598 |
| 15 years | $10,968 |
| 17 years | $13,337 |
| 19 years | $15,707 |
| 21 years | $18,076 |
| 23 years | $20,446 |
| 25 years | $22,815 |
Top Solar Installers in Canyon Lake
When making the switch to solar, many homeowners prefer to go with a solar installer since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers provide can be valuable as well, particularly if you aren’t sure what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
Although the average cost of a solar system in Canyon Lake is $6,803, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation 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 model of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Canyon Lake to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Canyon Lake, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $25,050 | 9.4 years |
| 8 kW | $3.54 | $19,821 | $33,789 | 9.2 years |
| 10 kW | $3.47 | $24,290 | $42,722 | 9.1 years |
| 12 kW | $3.40 | $28,565 | $51,849 | 8.9 years |
| 14 kW | $3.33 | $32,646 | $61,171 | 8.7 years |
| 16 kW | $3.26 | $36,532 | $70,686 | 8.5 years |
| 18 kW | $3.19 | $40,224 | $80,397 | 8.3 years |
| 20 kW | $3.12 | $43,722 | $90,301 | 8.2 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project timeline rebates and warranties.
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 Canyon Lake, CA Solar Cost FAQs
How much does it cost to install solar panels in Canyon Lake?
This is a hard 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 higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Canyon Lake is currently $677,488, which means you can look forward to a value of about $27,777 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Canyon Lake is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 install between 20 and 35 panels to account for 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.