Solar Panel Cost Guide in Lafayette, TN (2025 Update)
- Lafayette Solar Installation Cost: $20,200
- 25-Year Savings: $9,379
- Payback Period: 21.6 Years
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Average Cost of Solar Panels in Lafayette
Find out how much it might cost to make the switch to solar in Lafayette.
The national average cost of solar panels is $2.66 per watt, but in Lafayette it’s 4 per watt.Using this figure, a typical 8.1-kW system would cost about $20,200 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.Despite the high upfront cost, the average Lafayette homeowner can save about $12,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-20,200 |
| 3 years | $-20,200 |
| 5 years | $-20,200 |
| 7 years | $-20,200 |
| 9 years | $-20,200 |
| 11 years | $-20,200 |
| 13 years | $-20,200 |
| 15 years | $-20,200 |
| 17 years | $-20,200 |
| 19 years | $-20,200 |
| 21 years | $-20,200 |
| 23 years | $-20,200 |
| 25 years | $-20,200 |
Top Solar Installers in Lafayette
Although it's possible to install solar panels by yourself, it requires extra effort and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Solar warranties and repairs are often included in the cost of installation when you go with a solar company as well, which can save you more money over time.
If you're searching for a solar installer in Lafayette, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Lafayette
Factors that Affect Solar Panel Costs in Lafayette
There are several factors that can play into your 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
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get 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 out of pocket is out of reach, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Lafayette, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better 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 | $3.72 | $15,637 | $1,802 | 22.4 years |
| 8 kW | $3.65 | $20,449 | $2,803 | 22.0 years |
| 10 kW | $3.58 | $25,060 | $4,005 | 21.6 years |
| 12 kW | $3.51 | $29,471 | $5,408 | 21.1 years |
| 14 kW | $3.44 | $33,681 | $7,011 | 20.7 years |
| 16 kW | $3.37 | $37,690 | $8,815 | 20.3 years |
| 18 kW | $3.29 | $41,499 | $10,818 | 19.8 years |
| 20 kW | $3.22 | $45,108 | $13,023 | 19.4 years |
How to Save on Solar Panels
There are many companies available in Lafayette, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, 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 needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Lafayette, TN Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
The average cost of solar panels in Lafayette is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lafayette?
Solar panels aren’t free in Lafayette, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
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 Lafayette is currently $251,142, so you can expect a value of about $10,297 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lafayette is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of 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 keep using 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.