Solar Panel Cost Guide in Covington, LA (2023 Update)
- Covington Solar Installation Cost: $17,846
- 25-Year Savings: $26,665
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Covington
We break down average solar pricing in Covington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Covington, the typical cost of a solar system is 2.57 per watt. The average solar panel system size in Covington is around 9.9 kilowatts, meaning a cost of about $17,846 for a solar installation, or $25,520 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Covington depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Covington find installing solar panels has a decent ROI.
You can click the button below to get connected with a top solar installer in Covington that can help you get a more accurate cost estimate for your home.
Solar savings over time in Covington
| Year | Return on Investment |
|---|---|
| 1 years | $-16,066 |
| 3 years | $-12,505 |
| 5 years | $-8,944 |
| 7 years | $-5,383 |
| 9 years | $-1,822 |
| 11 years | $1,739 |
| 13 years | $5,300 |
| 15 years | $8,860 |
| 17 years | $12,421 |
| 19 years | $15,982 |
| 21 years | $19,543 |
| 23 years | $23,104 |
| 25 years | $26,665 |
Top Solar Installers in Covington
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be time-consuming. Plus, if you'd like to maximize your investment in solar power, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you're looking for a solar company in Covington, we've put together a list of our top suggestions here:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Covington
Factors that Affect Solar Panel Costs in Covington
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Covington: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly 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, you can expect your total to increase by around $2,570. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Covington offer solar loans, which reduce your upfront costs of installing solar. Though solar loans make adopting solar energy more accessible for Covington homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Covington, and each can charge different amounts for labor and equipment. Additionally, some companies in Covington know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.67 | $11,226 | $15,705 | 10.4 years |
| 8 kW | $2.62 | $14,680 | $21,227 | 10.2 years |
| 10 kW | $2.57 | $17,990 | $26,894 | 10.0 years |
| 12 kW | $2.52 | $21,156 | $32,704 | 9.8 years |
| 14 kW | $2.47 | $24,179 | $38,659 | 9.6 years |
| 16 kW | $2.42 | $27,057 | $44,757 | 9.4 years |
| 18 kW | $2.36 | $29,791 | $50,999 | 9.2 years |
| 20 kW | $2.31 | $32,382 | $57,386 | 9.0 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 pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- 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 what services your solar company will provide and how part repairs and replacements will be handled.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Covington, LA Solar Cost FAQs
How much does it cost to install solar panels in Covington?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Covington?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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.