Solar Panel Cost Guide in Elmwood, LA (2024 Update)
- Elmwood Solar Installation Cost: $26,349
- 25-Year Savings: $25,137
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Elmwood
We go over average solar pricing in Elmwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Elmwood, the average cost of solar panels is 4 per watt.The average Elmwood homeowner needs a 9.9-kilowatt system, which would cost about $26,349 with the federal tax credit, or $37,679 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
To get a free estimate from a top solar installer in Elmwood, you can click the button below.
Solar savings over time in Elmwood
| Year | Return on Investment |
|---|---|
| 1 years | $-25,040 |
| 3 years | $-22,422 |
| 5 years | $-19,803 |
| 7 years | $-17,185 |
| 9 years | $-14,566 |
| 11 years | $-11,948 |
| 13 years | $-9,329 |
| 15 years | $-6,710 |
| 17 years | $-4,092 |
| 19 years | $-1,473 |
| 21 years | $1,145 |
| 23 years | $3,764 |
| 25 years | $6,382 |
Top Solar Installers in Elmwood
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company as well, which can save you more money over time.
There are various licensed solar professionals that can install solar panels for you. 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 Elmwood
Factors that Affect Solar Panel Costs in Elmwood
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Elmwood: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Elmwood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,800 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Elmwood to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $9,421 | 15.9 years |
| 8 kW | $3.88 | $21,706 | $12,987 | 15.6 years |
| 10 kW | $3.80 | $26,600 | $16,766 | 15.3 years |
| 12 kW | $3.72 | $31,282 | $20,758 | 15.0 years |
| 14 kW | $3.65 | $35,750 | $24,962 | 14.7 years |
| 16 kW | $3.57 | $40,006 | $29,379 | 14.4 years |
| 18 kW | $3.50 | $44,050 | $34,009 | 14.1 years |
| 20 kW | $3.42 | $47,880 | $38,852 | 13.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: If you’re concerned about the longevity of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Elmwood, LA Solar Cost FAQs
What is the average cost of installing solar panels in Elmwood?
The average cost of solar panels in Elmwood is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The upfront 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 be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $867.32 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 household 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.