Solar Panel Cost Guide in Lafayette, LA (2024 Update)
- Lafayette Solar Installation Cost: $26,408
- 25-Year Savings: $24,684
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of solar panels are in Lafayette.
The average cost of a solar system in Lafayette is 4 per watt.Since a 9.9-kW system is needed to cover the energy needs of a typical home in Lafayette, the average price of going solar will be about $26,408 after claiming the federal solar tax credit of 0.
How much you pay can be above or below the average in Lafayette based on several factors, such as the kind of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
To get a free estimate from a highly rated solar installer in Lafayette, you can click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-25,050 |
| 3 years | $-22,335 |
| 5 years | $-19,620 |
| 7 years | $-16,904 |
| 9 years | $-14,189 |
| 11 years | $-11,474 |
| 13 years | $-8,758 |
| 15 years | $-6,043 |
| 17 years | $-3,328 |
| 19 years | $-612 |
| 21 years | $2,103 |
| 23 years | $4,818 |
| 25 years | $7,534 |
Top Solar Installers in Lafayette
Although it's possible to install solar panels by yourself, it involves extra energy and knowledge. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Some solar installers, especially local ones, can help you take advantage of incentives in Lafayette, optimizing your ROI.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers in Lafayette:
Best National Provider
SunPower
- 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
- 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 Lafayette
Factors that Affect Solar Panel Costs in Lafayette
There are a number of factors that can determine 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 panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lafayette, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lafayette to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.95 | $16,598 | $9,114 | 16.1 years |
| 8 kW | $3.88 | $21,706 | $12,577 | 15.8 years |
| 10 kW | $3.80 | $26,600 | $16,254 | 15.5 years |
| 12 kW | $3.72 | $31,282 | $20,143 | 15.2 years |
| 14 kW | $3.65 | $35,750 | $24,245 | 14.9 years |
| 16 kW | $3.57 | $40,006 | $28,559 | 14.6 years |
| 18 kW | $3.50 | $44,050 | $33,087 | 14.3 years |
| 20 kW | $3.42 | $47,880 | $37,827 | 14.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- 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 satisfied reviews from past customers.
- Warranty: If you care about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best National Provider
SunPower
- 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
- 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 Lafayette, LA Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lafayette?
A solar panel system isn’t free in Lafayette, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Lafayette have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation 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.
How long do solar panels last in Lafayette?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 keep using 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.