Solar Panel Cost Guide in Hammond, LA (2023 Update)
- Hammond Solar Installation Cost: $17,893
- 25-Year Savings: $24,982
- Payback Period: 10.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hammond
Here's how much it might cost to make the switch to solar in Hammond.
The national average cost of solar panels is $2.66 per watt, but in Hammond it's 2.57 per watt. 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%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Hammond can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar company in Hammond for a personalized estimate.
Solar savings over time in Hammond
| Year | Return on Investment |
|---|---|
| 1 years | $-17,750 |
| 3 years | $-17,464 |
| 5 years | $-17,179 |
| 7 years | $-16,893 |
| 9 years | $-16,607 |
| 11 years | $-16,321 |
| 13 years | $-16,035 |
| 15 years | $-15,749 |
| 17 years | $-15,464 |
| 19 years | $-15,178 |
| 21 years | $-14,892 |
| 23 years | $-14,606 |
| 25 years | $-14,320 |
Top Solar Installers in Hammond
Many homeowners choose to hire a solar installer since installing solar panels on your own can be a labor-intensive endeavor. The payback period of solar panels will vary based on factors like your location and energy consumption, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar installer in Hammond, the EcoWatch team has compiled a list of our top suggestions here:
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 Hammond
Factors that Affect Solar Panel Costs in Hammond
For many Hammond homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Hammond, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Hammond, 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 consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,570 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Hammond homeowners decide to finance their solar panel systems to make paying for solar more affordable. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration 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 system. As with choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The solar panel company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
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 Hammond, LA Solar Cost FAQs
How much does it cost to install solar panels in Hammond?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will having solar panels impact how much my 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 Hammond is currently $168,827, so you can expect a value of about $6,922 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Hammond is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy 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.