Solar Panel Cost Guide in Morgan City, LA (2024 Update)
- Morgan City Solar Installation Cost: $26,366
- 25-Year Savings: $26,129
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Morgan City
We go over average solar pricing in Morgan City.
Although the national average of solar panels is $2.66 per watt, solar panels in Morgan City typically cost about 4.Using this figure, a typical 9.9-kW system would cost about $26,366 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more.With average savings of about $17,000 on energy bills over 20 years, many homeowners in Morgan City find going solar can be quite rewarding.
To get a free quote from a pre-vetted solar installation company in Morgan City, you can click the button below.
Solar savings over time in Morgan City
| Year | Return on Investment |
|---|---|
| 1 years | $-24,789 |
| 3 years | $-21,634 |
| 5 years | $-18,478 |
| 7 years | $-15,323 |
| 9 years | $-12,168 |
| 11 years | $-9,013 |
| 13 years | $-5,857 |
| 15 years | $-2,702 |
| 17 years | $453 |
| 19 years | $3,608 |
| 21 years | $6,764 |
| 23 years | $9,919 |
| 25 years | $13,074 |
Top Solar Installers in Morgan City
Installing solar panels yourself can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for your family.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers near you:
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 Morgan City
Factors that Affect Solar Panel Costs in Morgan City
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar energy system in Morgan City, one of the most crucial 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 determine by looking at past power bills. Your overall cost can increase by around $3,800 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Morgan City, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Morgan City, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of clean energy solutions in Morgan City, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater 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 | $3.95 | $16,598 | $10,012 | 15.6 years |
| 8 kW | $3.88 | $21,706 | $13,775 | 15.3 years |
| 10 kW | $3.80 | $26,600 | $17,750 | 15.0 years |
| 12 kW | $3.72 | $31,282 | $21,939 | 14.7 years |
| 14 kW | $3.65 | $35,750 | $26,340 | 14.4 years |
| 16 kW | $3.57 | $40,006 | $30,954 | 14.1 years |
| 18 kW | $3.50 | $44,050 | $35,781 | 13.8 years |
| 20 kW | $3.42 | $47,880 | $40,820 | 13.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Morgan City, LA Solar Cost FAQs
What is the average cost of installing solar panels in Morgan City?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality 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 expensive solar panels.
Should I lease or buy solar panels in Morgan City?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 incentives 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 installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Morgan City is currently $195,180, so you can look forward to a value of about $8,002 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Morgan City is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.