Solar Panel Cost Guide in Hammond, LA (Mar 2023)
- Hammond Solar Installation Cost: $17,900
- 25-Year Savings: $24,975
- Payback Period: 10.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hammond
Let's have a look at the average cost of solar panels in Hammond.
Although the national average of solar panels is $2.66 per watt, solar panels in Hammond typically cost around 2.57. Because a 9.9-kW system is needed to cover the energy costs of a typical home in Hammond, the average price of going solar will be about $17,900 after claiming the federal solar tax credit of 30%.
The actual price you pay can go above or below the average in Hammond depending on a few factors, such as the type of solar panels you choose and the solar company you hire. Even with the large initial cost, the average Hammond homeowner can save around $16,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hammond
| Year | Return on Investment |
|---|---|
| 1 years | $-16,185 |
| 3 years | $-12,755 |
| 5 years | $-9,325 |
| 7 years | $-5,895 |
| 9 years | $-2,465 |
| 11 years | $965 |
| 13 years | $4,395 |
| 15 years | $7,825 |
| 17 years | $11,255 |
| 19 years | $14,685 |
| 21 years | $18,115 |
| 23 years | $21,545 |
| 25 years | $24,975 |
Top Solar Installers in Hammond
Although it's possible to install solar panels on your own, it involves extra time and handiness. That's why the majority of homeowners choose a solar panel installer. Another benefit of using a solar company is that they can help you optimize your ROI by cutting back on future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Hammond
Factors that Affect Solar Panel Costs in Hammond
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,570. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose 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
Many homeowners find the average cost of solar in Hammond to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. However, the interest on solar loans also increases your total costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Hammond is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $14,638 | 10.9 years |
| 8 kW | $2.62 | $14,680 | $19,806 | 10.6 years |
| 10 kW | $2.57 | $17,990 | $25,117 | 10.4 years |
| 12 kW | $2.52 | $21,156 | $30,572 | 10.2 years |
| 14 kW | $2.47 | $24,179 | $36,171 | 10.0 years |
| 16 kW | $2.42 | $27,057 | $41,914 | 9.8 years |
| 18 kW | $2.36 | $29,791 | $47,801 | 9.6 years |
| 20 kW | $2.31 | $32,382 | $53,831 | 9.4 years |
How to Save on Solar Panels
There are many companies available in Hammond, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Hammond, LA Solar Cost FAQs
What is the average cost of installing solar panels in Hammond?
The average cost of solar panels in Hammond 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hammond?
Solar panels aren't free in Hammond, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can 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.