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 typically cost around 4.The average Lake Charles homeowner needs a 9.9-kilowatt system, which would cost about $26,365 with the federal tax credit, or $37,702 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on your energy needs and what company you choose to go with.With average savings of about $18,000 on utility bills over 20 years, many homeowners in Lake Charles find investing in solar can be quite rewarding.
Click the button below to get connected to a vetted solar company in Lake Charles for a personalized estimate.
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
Many homeowners choose to hire a solar installer since installing solar panels by yourself can be challenging. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar installer in Lake Charles, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Lake Charles
Factors that Affect Solar Panel Costs in Lake Charles
While the average cost of a solar system in Lake Charles is $26,365, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Lake Charles, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $3,800 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Lake Charles’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lake Charles know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Well-established 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 quality aftercare and customer support, such as part repairs and replacements.
EcoWatch's Lake Charles, LA Solar Cost FAQs
How much does it cost to install solar panels in Lake Charles?
The average cost of solar panels in Lake Charles is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lake Charles?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Charles is currently $190,297, so you can look forward to a value of about $7,802 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lake Charles is a rewarding investment.
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.