Solar Panel Cost Guide in Monroe, GA (2023 Update)
- Monroe Solar Installation Cost: $11,977
- 25-Year Savings: $21,382
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Monroe
Find out what the average cost of solar panel installation is in Monroe.
In Monroe, solar panels cost about 2.55 per watt on average. Because a 6.7-kW system is needed to cover the energy usage of a typical home in Monroe, the average price of going solar will be about $11,977 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Monroe depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Monroe see about $19,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a personalized quote.
Solar savings over time in Monroe
| Year | Return on Investment |
|---|---|
| 1 years | $-10,643 |
| 3 years | $-7,974 |
| 5 years | $-5,305 |
| 7 years | $-2,637 |
| 9 years | $32 |
| 11 years | $2,701 |
| 13 years | $5,369 |
| 15 years | $8,038 |
| 17 years | $10,707 |
| 19 years | $13,376 |
| 21 years | $16,044 |
| 23 years | $18,713 |
| 25 years | $21,382 |
Top Solar Installers in Monroe
Many homeowners choose to use a solar installation company since figuring out how to install solar panels yourself can be challenging. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
There are several 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 Monroe
Factors that Affect Solar Panel Costs in Monroe
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,550 per kilowatt in Monroe. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Monroe average.
Solar Financing Terms
Most solar companies in Monroe have solar loans, which reduce the initial cost of installing a solar system. While solar loans make switching to solar energy more accessible for Monroe homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Monroe is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that provide a range of services for different budgets. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $2.65 | $11,138 | $18,691 | 9.3 years |
| 8 kW | $2.60 | $14,566 | $25,207 | 9.2 years |
| 10 kW | $2.55 | $17,850 | $31,865 | 9.0 years |
| 12 kW | $2.50 | $20,992 | $38,667 | 8.8 years |
| 14 kW | $2.45 | $23,990 | $45,611 | 8.6 years |
| 16 kW | $2.40 | $26,846 | $52,698 | 8.4 years |
| 18 kW | $2.35 | $29,560 | $59,928 | 8.3 years |
| 20 kW | $2.29 | $32,130 | $67,301 | 8.1 years |
How to Save on Solar Panels
There are many companies to choose from in Monroe, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should choose, since different companies have different panels.
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 Monroe, GA Solar Cost FAQs
How much does it cost to install solar panels in Monroe?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Monroe?
Leasing solar panels can be an option if you are unable 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 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 bang for your buck from going solar.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Monroe, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.