Solar Panel Cost Guide in Greenwood, LA (Nov 2022)

  • Greenwood Solar Installation Cost: $18,350
  • 25-Year Savings: $26,496
  • Payback Period: 10.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Greenwood

See how much it might cost to switch to solar power in Greenwood.

The average cost of solar panels in Greenwood is $3 per watt. Because a 10.2-kW system is needed to cover the energy usage of a typical home in Greenwood, the average price of going solar will be about $18,350 before claiming the federal solar tax credit of 30%.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Greenwood can save around $17,000 on their power bills over 20 years.

For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Greenwood

Year Return on Investment
1 years $-16,556
3 years $-12,968
5 years $-9,381
7 years $-5,793
9 years $-2,205
11 years $1,383
13 years $4,970
15 years $8,558
17 years $12,146
19 years $15,733
21 years $19,321
23 years $22,909
25 years $26,496

Top Solar Installers in Greenwood

Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Another upside of working with a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Greenwood

Factors that Affect Solar Panel Costs in Greenwood

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Greenwood: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

The size of the solar system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,570. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Greenwood average.

Solar Financing Terms

Many homeowners find the average cost of solar in Greenwood to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The solar company you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. 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 find a company that provides 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 $15,160 10.6 years
8 kW $2.62 $14,680 $20,501 10.4 years
10 kW $2.57 $17,990 $25,987 10.2 years
12 kW $2.52 $21,156 $31,616 10.0 years
14 kW $2.47 $24,179 $37,389 9.8 years
16 kW $2.42 $27,057 $43,306 9.6 years
18 kW $2.36 $29,791 $49,366 9.4 years
20 kW $2.31 $32,382 $55,571 9.2 years

How to Save on Solar Panels

Since the kind of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Greenwood, LA Solar Cost FAQs

How much does it cost to install solar panels in Greenwood?

The average cost of solar panels in Greenwood 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 stuff 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 Greenwood?

Solar panels aren't free in Greenwood, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Does Greenwood have a net metering program?

The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates 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.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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