Solar Panel Cost Guide in Lafayette, GA (2023 Update)
- Lafayette Solar Installation Cost: $12,495
- 25-Year Savings: $20,894
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lafayette
We break down average solar pricing in Lafayette.
The average cost of solar panels in Lafayette is 2.55 per watt. The average solar panel system size in Lafayette is around 7.0 kilowatts, meaning a cost of about $12,495 for a solar installation, or $17,868 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Lafayette see about $18,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a personalized quote.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-11,159 |
| 3 years | $-8,488 |
| 5 years | $-5,817 |
| 7 years | $-3,146 |
| 9 years | $-475 |
| 11 years | $2,196 |
| 13 years | $4,867 |
| 15 years | $7,539 |
| 17 years | $10,210 |
| 19 years | $12,881 |
| 21 years | $15,552 |
| 23 years | $18,223 |
| 25 years | $20,894 |
Top Solar Installers in Lafayette
Installing solar panels yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Though the average cost of a solar system in Lafayette is $12,495, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,550. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Lafayette homeowners opt to finance their solar panel systems to make paying for solar more affordable. While solar loans make adopting solar energy more accessible for Lafayette homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lafayette is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $17,469 | 9.7 years |
| 8 kW | $2.60 | $14,566 | $23,578 | 9.5 years |
| 10 kW | $2.55 | $17,850 | $29,829 | 9.4 years |
| 12 kW | $2.50 | $20,992 | $36,224 | 9.2 years |
| 14 kW | $2.45 | $23,990 | $42,761 | 9.0 years |
| 16 kW | $2.40 | $26,846 | $49,440 | 8.8 years |
| 18 kW | $2.35 | $29,560 | $56,263 | 8.6 years |
| 20 kW | $2.29 | $32,130 | $63,229 | 8.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
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 hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional 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 want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Lafayette?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 savings from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $953.59 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 buy between 20 and 35 panels to cover 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.