Solar Panel Cost Guide in Eastwood, LA (2024 Update)
- Eastwood Solar Installation Cost: $27,197
- 25-Year Savings: $23,928
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Eastwood
Here’s how much it might cost to make the switch to solar in Eastwood.
The national average cost of solar panels is $2.66 per watt, but in Eastwood it’s 4 per watt.The average Eastwood homeowner needs a 10.2-kilowatt system, which would cost about $27,197 with the federal tax credit, or $38,892 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Eastwood homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Eastwood can save around $16,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Eastwood
| Year | Return on Investment |
|---|---|
| 1 years | $-25,888 |
| 3 years | $-23,269 |
| 5 years | $-20,651 |
| 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 | $2,916 |
| 25 years | $5,535 |
Top Solar Installers in Eastwood
Many homeowners choose to hire a solar installation company since installing solar panels on your own can be challenging. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Eastwood
Factors that Affect Solar Panel Costs in Eastwood
Even though the average cost of a solar system in Eastwood is $27,197, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,800. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Eastwood, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,237 | 16.7 years |
| 8 kW | $3.88 | $21,706 | $11,409 | 16.4 years |
| 10 kW | $3.80 | $26,600 | $14,793 | 16.1 years |
| 12 kW | $3.72 | $31,282 | $18,390 | 15.7 years |
| 14 kW | $3.65 | $35,750 | $22,199 | 15.4 years |
| 16 kW | $3.57 | $40,006 | $26,222 | 15.1 years |
| 18 kW | $3.50 | $44,050 | $30,457 | 14.8 years |
| 20 kW | $3.42 | $47,880 | $34,905 | 14.5 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your overall costs, but also the types 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: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
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 Eastwood, LA Solar Cost FAQs
What is the average cost of installing solar panels in Eastwood?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Eastwood, 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 contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Eastwood?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.