Solar Panel Cost Guide in Richwood, LA (2025 Update)
- Richwood Solar Installation Cost: $27,136
- 25-Year Savings: $22,112
- Payback Period: 16.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Richwood
Find out what the average cost of solar panel installation is in Richwood.
In Richwood, solar panels cost about 4 per watt on average.Because a 10.2-kW system is needed to cover the energy consumption of a typical home in Richwood, the average price of going solar will be about $27,136 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you may look different based on your specific situation and what company you want to go with.Even with the high upfront cost, the average Richwood homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a vetted solar installation company in Richwood, you can click the button below.
Solar savings over time in Richwood
| Year | Return on Investment |
|---|---|
| 1 years | $-25,827 |
| 3 years | $-23,208 |
| 5 years | $-20,590 |
| 7 years | $-17,971 |
| 9 years | $-15,353 |
| 11 years | $-12,734 |
| 13 years | $-10,116 |
| 15 years | $-7,497 |
| 17 years | $-4,878 |
| 19 years | $-2,260 |
| 21 years | $359 |
| 23 years | $2,977 |
| 25 years | $5,596 |
Top Solar Installers in Richwood
Trying to install solar panels on your own can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Richwood
Factors that Affect Solar Panel Costs in Richwood
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,800. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Richwood homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea to include 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Richwood is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $3.95 | $16,598 | $7,200 | 17.4 years |
| 8 kW | $3.88 | $21,706 | $10,026 | 17.1 years |
| 10 kW | $3.80 | $26,600 | $13,065 | 16.8 years |
| 12 kW | $3.72 | $31,282 | $16,316 | 16.4 years |
| 14 kW | $3.65 | $35,750 | $19,780 | 16.1 years |
| 16 kW | $3.57 | $40,006 | $23,457 | 15.8 years |
| 18 kW | $3.50 | $44,050 | $27,347 | 15.4 years |
| 20 kW | $3.42 | $47,880 | $31,449 | 15.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- 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.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
EcoWatch's Richwood, LA Solar Cost FAQs
How much does it cost to install solar panels in Richwood?
This is a difficult question to answer exactly, 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
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 Richwood is currently $179,273, which means you can look forward to a value of about $7,350 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Richwood is a rewarding investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.