Solar Panel Cost Guide in Ferriday, LA (Mar 2023)
- Ferriday Solar Installation Cost: $18,278
- 25-Year Savings: $24,112
- Payback Period: 10.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ferriday
Find out what the average cost of solar panel installation is in Ferriday.
Although the national average of solar panels is $2.66 per watt, solar panels in Ferriday typically cost around 2.57. To cover the typical energy needs of the average home in Ferriday, most homeowners require a 10.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $18,278, or $26,138 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what company you go with. Even with the high initial cost, the average Ferriday homeowner can save around $16,000 on their energy bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a top solar installer in Ferriday that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ferriday
| Year | Return on Investment |
|---|---|
| 1 years | $-16,582 |
| 3 years | $-13,191 |
| 5 years | $-9,800 |
| 7 years | $-6,409 |
| 9 years | $-3,018 |
| 11 years | $374 |
| 13 years | $3,765 |
| 15 years | $7,156 |
| 17 years | $10,547 |
| 19 years | $13,938 |
| 21 years | $17,329 |
| 23 years | $20,720 |
| 25 years | $24,112 |
Top Solar Installers in Ferriday
Although you can install solar panels by yourself, it requires extra energy and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for you.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Ferriday
Factors that Affect Solar Panel Costs in Ferriday
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Ferriday: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Ferriday average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they decrease 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 APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of green energy solutions in Ferriday, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fit into your budget.
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 | $13,805 | 11.2 years |
| 8 kW | $2.62 | $14,680 | $18,695 | 11.0 years |
| 10 kW | $2.57 | $17,990 | $23,728 | 10.8 years |
| 12 kW | $2.52 | $21,156 | $28,905 | 10.6 years |
| 14 kW | $2.47 | $24,179 | $34,227 | 10.3 years |
| 16 kW | $2.42 | $27,057 | $39,692 | 10.1 years |
| 18 kW | $2.36 | $29,791 | $45,301 | 9.9 years |
| 20 kW | $2.31 | $32,382 | $51,054 | 9.7 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which installer you should choose, since different companies offer different panels.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Ferriday, LA Solar Cost FAQs
How much does it cost to install solar panels in Ferriday?
The average cost of solar panels in Ferriday is about $12,850 for a 5-kW system and $25,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Ferriday?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact the value of my home?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 higher amount 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.