Solar Panel Cost Guide in Greenwood, LA (Feb 2023)

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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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, which is measured in kilowatts, 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

What is the average cost of installing solar panels in Greenwood?

This is a tough question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

What other factors should I consider apart from cost when buying solar panels?

The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Greenwood?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.

How many solar panels should I get to power my home?

To figure out how many solar panels 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 generally 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.

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