Solar Panel Cost Guide in Monroe, GA (2024 Update)
- Monroe Solar Installation Cost: $17,567
- 25-Year Savings: $21,382
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Monroe
Let’s take a look at the average cost of solar in Monroe.
The average cost of solar panels in Monroe is 4 per watt.Using this figure, a typical 6.7-kW system would cost about $17,567 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Monroe depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar panel company in Monroe for a personalized quote.
Solar savings over time in Monroe
| Year | Return on Investment |
|---|---|
| 1 years | $-16,020 |
| 3 years | $-12,925 |
| 5 years | $-9,831 |
| 7 years | $-6,736 |
| 9 years | $-3,642 |
| 11 years | $-547 |
| 13 years | $2,547 |
| 15 years | $5,641 |
| 17 years | $8,736 |
| 19 years | $11,830 |
| 21 years | $14,925 |
| 23 years | $18,019 |
| 25 years | $21,114 |
Top Solar Installers in Monroe
Trying to install solar panels by yourself can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Another advantage of utilizing a solar company is that they can help you optimize your investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:
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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Monroe
Factors that Affect Solar Panel Costs in Monroe
Though the average cost of a solar system in Monroe is $17,567, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
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, you can expect your total to increase by nearly $3,740. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Monroe, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Monroe, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can play a role in determining the cost. Monroe’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that offers the products, warranties and services you want and also fit into your budget.
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 | $13,493 | 13.7 years |
| 8 kW | $3.81 | $21,363 | $18,409 | 13.4 years |
| 10 kW | $3.74 | $26,180 | $23,535 | 13.2 years |
| 12 kW | $3.67 | $30,788 | $28,871 | 12.9 years |
| 14 kW | $3.59 | $35,186 | $34,416 | 12.6 years |
| 16 kW | $3.52 | $39,375 | $40,170 | 12.4 years |
| 18 kW | $3.44 | $43,354 | $46,134 | 12.1 years |
| 20 kW | $3.37 | $47,124 | $52,307 | 11.8 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Monroe, GA Solar Cost FAQs
How much does it cost to install solar panels in Monroe?
This is a tough question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $994.31 per year.
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.