Solar Panel Cost Guide in Elmwood, LA (2023 Update)
- Elmwood Solar Installation Cost: $17,821
- 25-Year Savings: $25,137
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Elmwood
Let's have a look at the average cost of solar in Elmwood.
Although the national average of solar panels is $2.66 per watt, solar panels in Elmwood generally cost around 2.57. To cover the typical energy needs of the average home in Elmwood, most homeowners require a 9.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,828, or $25,494 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Elmwood homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar company in Elmwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Elmwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,511 |
| 3 years | $-13,893 |
| 5 years | $-11,274 |
| 7 years | $-8,656 |
| 9 years | $-6,037 |
| 11 years | $-3,419 |
| 13 years | $-800 |
| 15 years | $1,818 |
| 17 years | $4,437 |
| 19 years | $7,056 |
| 21 years | $9,674 |
| 23 years | $12,293 |
| 25 years | $14,911 |
Top Solar Installers in Elmwood
When going solar, many homeowners choose to use a solar company since installing a solar system yourself can be a time-consuming project. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for you.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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
While the average cost of a solar system in Elmwood is $17,828, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, 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 $2,570. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence your pricing. Elmwood's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $14,794 | 10.8 years |
| 8 kW | $2.62 | $14,680 | $20,013 | 10.6 years |
| 10 kW | $2.57 | $17,990 | $25,376 | 10.4 years |
| 12 kW | $2.52 | $21,156 | $30,883 | 10.2 years |
| 14 kW | $2.47 | $24,179 | $36,534 | 10.0 years |
| 16 kW | $2.42 | $27,057 | $42,329 | 9.7 years |
| 18 kW | $2.36 | $29,791 | $48,268 | 9.5 years |
| 20 kW | $2.31 | $32,382 | $54,350 | 9.3 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar company'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.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
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
How much does it cost to install solar panels in Elmwood?
The average cost of solar panels in Elmwood is about $12,850 for a 5-kW system and $25,700 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Elmwood?
You can't get solar panels for free in Elmwood. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does Elmwood have a net metering program?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.