Solar Panel Cost Guide in Monticello, LA (2023 Update)
- Monticello Solar Installation Cost: $17,957
- 25-Year Savings: $24,324
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Monticello
We break down average solar pricing in Monticello.
While the national average of solar panels is $2.66 per watt, solar panels in Monticello generally cost around 2.57. Because a 10.0-kW system is needed to cover the energy consumption of a typical home in Monticello, the average price of going solar will be about $17,954 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Monticello depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on electricity bills.
To receive a free estimate from a highly rated solar installer in Monticello, you can click the button below.
Solar savings over time in Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-17,816 |
| 3 years | $-17,534 |
| 5 years | $-17,252 |
| 7 years | $-16,970 |
| 9 years | $-16,689 |
| 11 years | $-16,407 |
| 13 years | $-16,125 |
| 15 years | $-15,843 |
| 17 years | $-15,561 |
| 19 years | $-15,279 |
| 21 years | $-14,997 |
| 23 years | $-14,715 |
| 25 years | $-14,434 |
Top Solar Installers in Monticello
When making the switch to solar, many homeowners prefer to hire a solar installer since overseeing your solar installation yourself can be a time-consuming project. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Monticello
Factors that Affect Solar Panel Costs in Monticello
The cost of installing a solar system in Monticello can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Monticello, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,570 for each additional kilowatt you need. 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 get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Monticello average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Monticello, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Monticello, you'll have many options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $14,190 | 11.0 years |
| 8 kW | $2.62 | $14,680 | $19,207 | 10.8 years |
| 10 kW | $2.57 | $17,990 | $24,369 | 10.6 years |
| 12 kW | $2.52 | $21,156 | $29,674 | 10.4 years |
| 14 kW | $2.47 | $24,179 | $35,124 | 10.2 years |
| 16 kW | $2.42 | $27,057 | $40,717 | 10.0 years |
| 18 kW | $2.36 | $29,791 | $46,454 | 9.8 years |
| 20 kW | $2.31 | $32,382 | $52,336 | 9.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Monticello, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
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 Monticello, LA Solar Cost FAQs
What is the average cost of installing solar panels in Monticello?
This is a tough question to answer precisely, because the cost depends on many 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. It will cost more if you want additional 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 go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Monticello, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Monticello?
Although 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 opt to replace them once you've had them for that long or you can continue to use 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.