Solar Panel Cost Guide in Lake Charles, LA (2024 Update)
- Lake Charles Solar Installation Cost: $26,365
- 25-Year Savings: $28,737
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Lake Charles
Here’s how much it might cost to go solar in Lake Charles.
While the national average of solar panels is $2.66 per watt, solar panels in Lake Charles generally cost around 4.Since a 9.9-kW system is needed to cover the energy costs of a typical home in Lake Charles, the average price of going solar will be about $26,365 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Lake Charles homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Lake Charles can save about $18,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lake Charles
| Year | Return on Investment |
|---|---|
| 1 years | $-24,867 |
| 3 years | $-21,873 |
| 5 years | $-18,878 |
| 7 years | $-15,884 |
| 9 years | $-12,889 |
| 11 years | $-9,895 |
| 13 years | $-6,900 |
| 15 years | $-3,906 |
| 17 years | $-911 |
| 19 years | $2,083 |
| 21 years | $5,078 |
| 23 years | $8,072 |
| 25 years | $11,067 |
Top Solar Installers in Lake Charles
Although you can install solar panels by yourself, it takes extra energy and know-how. Because of that, almost all homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our recommendations for providers nearby:
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 Lake Charles
Factors that Affect Solar Panel Costs in Lake Charles
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Lake Charles: 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 panel system you need, 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 around $3,800. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Lake Charles, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lake Charles know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $11,591 | 14.7 years |
| 8 kW | $3.88 | $21,706 | $15,881 | 14.4 years |
| 10 kW | $3.80 | $26,600 | $20,383 | 14.2 years |
| 12 kW | $3.72 | $31,282 | $25,098 | 13.9 years |
| 14 kW | $3.65 | $35,750 | $30,026 | 13.6 years |
| 16 kW | $3.57 | $40,006 | $35,166 | 13.3 years |
| 18 kW | $3.50 | $44,050 | $40,519 | 13.0 years |
| 20 kW | $3.42 | $47,880 | $46,086 | 12.7 years |
How to Save on Solar Panels
Since the model of solar panels and the company 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 tips to keep in mind to help with your decision:
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Lake Charles, LA Solar Cost FAQs
What is the average cost of installing solar panels in Lake Charles?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lake Charles?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact my home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.