Solar Panel Cost Guide in Claiborne, LA (2024 Update)
- Claiborne Solar Installation Cost: $27,197
- 25-Year Savings: $22,072
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Claiborne
Let’s take a look at the average cost of solar panels in Claiborne.
The national average cost of solar panels is $2.66 per watt, but in Claiborne it’s 4 per watt.Using this figure, a typical 10.2-kW system would cost about $27,197 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find going solar is a fruitful investment. The average homeowner in Claiborne can save about $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Claiborne that can help you get a more accurate cost estimate for your home.
Solar savings over time in Claiborne
| Year | Return on Investment |
|---|---|
| 1 years | $-25,887 |
| 3 years | $-23,269 |
| 5 years | $-20,650 |
| 7 years | $-18,032 |
| 9 years | $-15,413 |
| 11 years | $-12,795 |
| 13 years | $-10,176 |
| 15 years | $-7,558 |
| 17 years | $-4,939 |
| 19 years | $-2,321 |
| 21 years | $298 |
| 23 years | $2,917 |
| 25 years | $5,535 |
Top Solar Installers in Claiborne
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make your switch to solar power much easier. Some solar companies, especially local ones, can help you better understand incentives in Claiborne, optimizing your ROI.
If you're looking for a solar company in Claiborne, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Claiborne
Factors that Affect Solar Panel Costs in Claiborne
For many Claiborne homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Claiborne, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, 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 $3,800. The kind of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Claiborne, and each can charge different amounts for labor and equipment.Additionally, some companies in Claiborne know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.95 | $16,598 | $7,148 | 17.5 years |
| 8 kW | $3.88 | $21,706 | $9,956 | 17.1 years |
| 10 kW | $3.80 | $26,600 | $12,977 | 16.8 years |
| 12 kW | $3.72 | $31,282 | $16,211 | 16.5 years |
| 14 kW | $3.65 | $35,750 | $19,658 | 16.1 years |
| 16 kW | $3.57 | $40,006 | $23,318 | 15.8 years |
| 18 kW | $3.50 | $44,050 | $27,190 | 15.5 years |
| 20 kW | $3.42 | $47,880 | $31,275 | 15.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on 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:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
EcoWatch's Claiborne, LA Solar Cost FAQs
How much does it cost to install solar panels in Claiborne?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Claiborne?
Leasing solar panels can be an appealing choice, as it typically 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.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Claiborne?
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 higher level 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.