Solar Panel Cost Guide in Lafayette, LA (2023 Update)
- Lafayette Solar Installation Cost: $17,864
- 25-Year Savings: $24,681
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lafayette
Find out what the average cost of installing solar panels is in Lafayette.
In Lafayette, solar panels cost about 2.57 per watt on average. 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 $17,864 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 use, the type of equipment you choose, your solar contractor and more. Despite the significant upfront cost, the average Lafayette homeowner can save around $16,000 on their power bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-16,162 |
| 3 years | $-12,759 |
| 5 years | $-9,355 |
| 7 years | $-5,952 |
| 9 years | $-2,548 |
| 11 years | $856 |
| 13 years | $4,259 |
| 15 years | $7,663 |
| 17 years | $11,066 |
| 19 years | $14,470 |
| 21 years | $17,874 |
| 23 years | $21,277 |
| 25 years | $24,681 |
Top Solar Installers in Lafayette
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,570. The kind of solar equipment you choose can bring your price up or down 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 electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Lafayette average.
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. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their larger 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 | $14,486 | 10.9 years |
| 8 kW | $2.62 | $14,680 | $19,603 | 10.7 years |
| 10 kW | $2.57 | $17,990 | $24,864 | 10.5 years |
| 12 kW | $2.52 | $21,156 | $30,268 | 10.3 years |
| 14 kW | $2.47 | $24,179 | $35,816 | 10.1 years |
| 16 kW | $2.42 | $27,057 | $41,509 | 9.9 years |
| 18 kW | $2.36 | $29,791 | $47,345 | 9.7 years |
| 20 kW | $2.31 | $32,382 | $53,325 | 9.4 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total 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 take into account, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 good reviews from previous customers.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 hard question to answer exactly, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lafayette?
You can't get solar panels for free in Lafayette. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Lafayette?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.