Solar Panel Cost Guide in Gray, LA (Mar 2023)
- Gray Solar Installation Cost: $17,792
- 25-Year Savings: $21,505
- Payback Period: 11.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Gray
Find out what the average cost of a solar system is in Gray.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Gray, the typical cost of a solar system is 2.57 per watt. Because a 9.9-kW system is needed to cover the energy usage 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%.
Keep in mind that the figures above are only estimates based on the average energy use of Gray homeowners. 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 return on investment for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Gray
| Year | Return on Investment |
|---|---|
| 1 years | $-16,220 |
| 3 years | $-13,076 |
| 5 years | $-9,933 |
| 7 years | $-6,789 |
| 9 years | $-3,645 |
| 11 years | $-501 |
| 13 years | $2,642 |
| 15 years | $5,786 |
| 17 years | $8,930 |
| 19 years | $12,074 |
| 21 years | $15,217 |
| 23 years | $18,361 |
| 25 years | $21,505 |
Top Solar Installers in Gray
Putting up solar panels by yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
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
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 Gray
Factors that Affect Solar Panel Costs in Gray
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar 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 mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,570 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Gray is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that offers the products, warranties and services you want 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 | $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
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you want plays a role in which company you should opt for, since different companies provide different panels.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: If you're concerned about the longevity of your solar panels, making sure 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Gray, LA Solar Cost FAQs
What is the average cost of installing solar panels in Gray?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Gray?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can you sell solar power back to the grid in Gray?
Most states offer net metering programs of some kind. Through these, you can either be compensated 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 usage and how much sunlight your roof gets. You can take a 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 cover 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.