Solar Panels in Riverside: An Overview
All Data As of December 31st 2016
- Average Residential Solar System Size in Riverside: 6.21 Kilowatts
- Average Cost of Solar Panels in Riverside: $30,675 BEFORE incentives ($21,473 AFTER federal incentives)
- Average Cost of Solar Panels in Riverside ($ Per Watt): $4.68 BEFORE incentives ($3.28 AFTER federal incentives)
Cost of Solar Panels in Riverside
In general, larger solar systems will cost less per kilowatt as there are certain fixed costs associated with an installation, so it is important to evaluate pricing by large systems (defined as 5-8 KWs) and medium systems (2-5 KWs). In addition, it is important to look at pricing distributions vs. averages or medians if you want to understand what a good deal is on a solar system.
For a large system, the average cost of solar panels in Riverside is $4.63 per watt (before incentives) and 25% of consumers paid less than $3.93 per watt. For a medium system, the average cost of solar panels in Riverside is $5.06 (before incentives) and 25% of consumers paid less than $4.22 per watt. So if you are looking to get the best price for a solar system in California and have an average sized system, you should find an installer below $3.50 per watt.
Solar Financing and Installation Trends in Riverside
Residential solar installations have increased significantly in California, although growth slowed in 2016. From 2010 to 2016, installations have increased from 18,000 to 150,000, making California the largest residential solar market in the U.S. by a wide margin. The slowdown in installation activity and installer turmoil, has created a buying opportunity for consumers. In Riverside, solar installations increased from 1,143 in 2010 to 12,950 in 2016.
Solar Trends in Riverside: June 2017 Update
Riverside solar permits increased 12% to 48 in June from 43 in June 2016 and increased 30% from May 2017 (YTD decrease of 16%).
Solar Financing in Riverside
In 2016, 43% of consumers purchased their solar system either with cash or a loan vs. and 57% used a lease or power purchase agreement (PPA) structure. Refer to our lease vs. buy guide to understand the implications of solar financing options. The percentage of consumers that purchased their solar system in Riverside has increased in 2016 due to an increasing number of low-cost solar loans.
Top Solar Companies in Riverside
Choosing a solar installer is arguably the most important step of going solar and we recommend reading our guide on how to choose a solar company. In Riverside in 2016, approximately 80% of consumers chose a local installer vs. 20% that chose a national installer (SolarCity, Vivint or Sunrun).