Solar Panel Cost Guide in LaFayette, GA (2024 Update)
- LaFayette Solar Installation Cost: $18,333
- 25-Year Savings: $20,889
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in LaFayette
We break down average solar pricing in LaFayette.
The average cost of a solar panel system in LaFayette is 4 per watt.To account for the typical energy usage of the average home in LaFayette, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs around $18,333, or $26,216 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and how much solar costs for you will differ based on the amount of energy your home requires and what company you choose to go with.For many homeowners, the upfront investment in solar is worth paying. On average LaFayette homeowners see about $18,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in LaFayette, you can click the button below.
Solar savings over time in LaFayette
| Year | Return on Investment |
|---|---|
| 1 years | $-16,740 |
| 3 years | $-13,554 |
| 5 years | $-10,367 |
| 7 years | $-7,181 |
| 9 years | $-3,994 |
| 11 years | $-808 |
| 13 years | $2,379 |
| 15 years | $5,565 |
| 17 years | $8,751 |
| 19 years | $11,938 |
| 21 years | $15,124 |
| 23 years | $18,311 |
| 25 years | $21,497 |
Top Solar Installers in LaFayette
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be hard. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
Working with a professional solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in LaFayette
Factors that Affect Solar Panel Costs in LaFayette
The cost of installing a solar system in LaFayette can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,740. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in LaFayette have solar loans, which reduce your upfront costs of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can influence the cost. LaFayette’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in LaFayette 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 walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.89 | $16,336 | $12,271 | 14.3 years |
| 8 kW | $3.81 | $21,363 | $16,781 | 14.0 years |
| 10 kW | $3.74 | $26,180 | $21,499 | 13.7 years |
| 12 kW | $3.67 | $30,788 | $26,427 | 13.5 years |
| 14 kW | $3.59 | $35,186 | $31,565 | 13.2 years |
| 16 kW | $3.52 | $39,375 | $36,912 | 12.9 years |
| 18 kW | $3.44 | $43,354 | $42,469 | 12.6 years |
| 20 kW | $3.37 | $47,124 | $48,235 | 12.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's LaFayette, GA Solar Cost FAQs
What is the average cost of installing solar panels in LaFayette?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,700 for a 5-kW system and $37,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in LaFayette?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 decreases 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.