Solar Panel Cost Guide in Monroe, LA (Oct 2022)

  • Monroe Solar Installation Cost: $18,386
  • 25-Year Savings: $21,806
  • Payback Period: 11.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Monroe

Here's how much it might cost to go solar in Monroe.

In Monroe, solar panels cost about $3 per watt on average. To cover the typical energy needs of the average home in Monroe, most homeowners require a 10.2-kilowatt system. Using the figure above, a solar installation costs about $18,386, or $13,606 after the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average Monroe homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on energy bills.

Click the button below to get connected to a reputable solar panel company in Monroe for a personalized quote.

Solar savings over time in Monroe

Year Return on Investment
1 years $-16,778
3 years $-13,563
5 years $-10,347
7 years $-7,132
9 years $-3,917
11 years $-701
13 years $2,514
15 years $5,729
17 years $8,945
19 years $12,160
21 years $15,376
23 years $18,591
25 years $21,806

Top Solar Installers in Monroe

Although it's possible to install solar panels yourself, it takes extra effort and know-how. Because of that, almost all homeowners choose to go with a solar panel installer. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.

If you'd like to switch to solar energy but still aren't sure which solar company to go with, here are our suggestions for providers in Monroe:

Best National Provider

SunPower

★★★★★
5.0

  • 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

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Monroe

Factors that Affect Solar Panel Costs in Monroe

For many Monroe homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Monroe, 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 Size

The size of the solar panel system you need to offset your energy usage is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,570. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Monroe average.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

Lastly, the company you choose to install your solar system can influence the cost. Monroe's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk 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 $2.67 $11,226 $12,380 11.9 years
8 kW $2.62 $14,680 $16,794 11.7 years
10 kW $2.57 $17,990 $21,352 11.4 years
12 kW $2.52 $21,156 $26,055 11.2 years
14 kW $2.47 $24,179 $30,901 11.0 years
16 kW $2.42 $27,057 $35,891 10.7 years
18 kW $2.36 $29,791 $41,025 10.5 years
20 kW $2.31 $32,382 $46,303 10.3 years

Solar Incentives in Monroe

Name Solar Energy System Exemption
Incentive Amount 100%
More Info Click here

Name Home Energy Loan Program (HELP)
Incentive Amount $6,000 from LA DNR
Website Visit here
More Info Click here

Name New Orleans City - Energy Smart Program
Incentive Amount
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 pick the right company for you, here are some tips to keep in mind:

  • Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
  • Contract: Before signing a contract with a solar company, be sure to look it over completely 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 part breaks or malfunctions and if there are any guarantees about energy production.
  • Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

The Green Panel

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Monroe, LA Solar Cost FAQs

What is the average cost of installing solar panels in Monroe?

The average cost of solar panels in Monroe is about $12,850 for a 5-kW system and $25,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider aside from cost when buying solar panels?

The initial 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 areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How will installing solar panels impact my property value?

Solar panels can increase your property's value 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.

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