Solar Panel Cost Guide in Elmwood, LA (Mar 2023)
- Elmwood Solar Installation Cost: $17,828
- 25-Year Savings: $25,130
- Payback Period: 10.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Elmwood
Find out how much it might cost to make the switch to solar in Elmwood.
In Elmwood, solar panels cost about 2.57 per watt on average. Because a 9.9-kW system is needed to cover the energy costs of a typical home in Elmwood, the average price of going solar will be about $17,828 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in Elmwood can save around $16,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar installation company in Elmwood, you can click the button below.
Solar savings over time in Elmwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,110 |
| 3 years | $-12,673 |
| 5 years | $-9,236 |
| 7 years | $-5,800 |
| 9 years | $-2,363 |
| 11 years | $1,073 |
| 13 years | $4,510 |
| 15 years | $7,947 |
| 17 years | $11,383 |
| 19 years | $14,820 |
| 21 years | $18,257 |
| 23 years | $21,693 |
| 25 years | $25,130 |
Top Solar Installers in Elmwood
Trying to put up solar panels on your own can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you're unsure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Elmwood
Factors that Affect Solar Panel Costs in Elmwood
There are a number of factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking 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 a solar system out of pocket is out of reach, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average. It's wise to factor 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 back the loan.
Solar Panel Installation Company
The solar installer 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 operating throughout Elmwood, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it's essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: If you're worried about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Elmwood, LA Solar Cost FAQs
What is the average cost of installing solar panels in Elmwood?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Elmwood is currently $235,275, so you can expect a value of about $9,646 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Elmwood is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.