Solar Panel Cost Guide in Gray, LA (2023 Update)
- Gray Solar Installation Cost: $17,797
- 25-Year Savings: $21,500
- Payback Period: 11.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gray
Find out what the average cost of installing solar panels is in Gray.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Gray, the typical cost of solar panels is 2.57 per watt. Since a 9.9-kW system is needed to cover the energy costs of a typical home in Gray, the average price of going solar will be about $17,792 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Gray find investing in solar can pay off big.
To receive a free estimate from a pre-vetted solar installation company in Gray, you can click the button below.
Solar savings over time in Gray
| Year | Return on Investment |
|---|---|
| 1 years | $-17,666 |
| 3 years | $-17,404 |
| 5 years | $-17,142 |
| 7 years | $-16,880 |
| 9 years | $-16,618 |
| 11 years | $-16,356 |
| 13 years | $-16,094 |
| 15 years | $-15,832 |
| 17 years | $-15,570 |
| 19 years | $-15,308 |
| 21 years | $-15,046 |
| 23 years | $-14,784 |
| 25 years | $-14,522 |
Top Solar Installers in Gray
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using a solar company can make your switch to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar contractor too, which can save you more money over time.
There are a number of 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 Gray
Factors that Affect Solar Panel Costs in Gray
Although the average cost of a solar system in Gray is $17,792, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Gray, one of the most important 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 usage, which you can figure out by looking at past power bills. Your total cost can increase by about $2,570 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Gray, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Gray, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing 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 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 | $12,608 | 11.8 years |
| 8 kW | $2.62 | $14,680 | $17,098 | 11.5 years |
| 10 kW | $2.57 | $17,990 | $21,733 | 11.3 years |
| 12 kW | $2.52 | $21,156 | $26,511 | 11.1 years |
| 14 kW | $2.47 | $24,179 | $31,433 | 10.9 years |
| 16 kW | $2.42 | $27,057 | $36,499 | 10.6 years |
| 18 kW | $2.36 | $29,791 | $41,709 | 10.4 years |
| 20 kW | $2.31 | $32,382 | $47,063 | 10.2 years |
How to Save on Solar Panels
There are many 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:
- Solar Panel Brands: The model of solar panel you need plays a role in which company you should go with, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project timeline rebates 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
EcoWatch's Gray, LA Solar Cost FAQs
How much does it cost to install solar panels in Gray?
The average cost of solar panels in Gray 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Gray?
Leasing solar panels can be an option if you can't afford 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.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Gray is currently $191,305, which means you could be looking at a value of about $7,844 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Gray is a rewarding investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses 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 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.