Solar Panel Cost Guide in Monroe, GA (Sep 2022)

  • Monroe Solar Installation Cost: $11,977
  • 25-Year Savings: $21,382
  • Payback Period: 9.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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 $3 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 before 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 National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Size

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

Solar Incentives in Monroe

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Jackson EMC - Right Choice Sun Power Rebate Program
Incentive Amount PV: $450/kW-DC
Incentive Max PV: $4,500
Website Visit here
More Info Click here

Name Central Georgia EMC - Residential Energy Efficiency Home Plus Loan Program
Website Visit here
More Info Click here

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 National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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?

The average cost of solar panels in Monroe is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Monroe?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.

Can solar panels completely eradicate my power bills?

It is possible to eliminate 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 roofs that can accommodate 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.

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