Solar panels have become increasingly popular as a sustainable way to save on electricity bills in the Louisiana heat, especially. Many local residents and businesses are considering Alexandria solar panel installation services, recognizing the upfront solar panels cost is minimal compared to how much they’ll save on energy costs. When our Lousisiana customers are considering the switch to solar systems, our Alexandria solar company is often asked, “If I were to buy solar panels in Alexandria, LA, how much do solar panels cost?” There is no straightforward answer in terms of solar panels cost. However, our Louisiana solar company will explain the important factors to consider when purchasing solar panels for your home or business.
The average cost of solar panels can vary based on the solar system, the solar panel manufacturer, the solar company, the energy production of a solar power system, how many solar panels you’ll need, and more. The key is determining how much money solar panels will save your family or business on future electricity bill costs. For example, if your solar panels generate electricity for 25 years, you’d get 21 years of energy production free thanks to your solar energy system.
Below, our Louisiana solar installation company breaks down everything you need to know about the average cost of solar panels.
Lombardi Electric is Louisiana’s top electrical service company. Our solar installer group is proud to offer a range of services for solar power systems in Louisiana, including but not limited to:
- Alexandria solar repair,
- Alexandria solar panel cleaning services,
- Alexandria solar inspection services, and
- Louisiana solar tax credit assistance
As a leading solar company, we understand the complexity and nuances of the solar industry and strive to make the average cost of installing solar panels as affordable as possible for our customers.
If you’re ready to lower your Louisiana electric bill and switch to solar energy usage, get your free solar quote in Alexandria, LA, and call 318-545-7575 to learn more about solar system installation in Louisiana.
How Much Do Solar Panels Cost?
How Much Do Solar Panels Cost to Install
Solar panels cost depends on many factors. Last year, the average system cost is around $3 per watt, which means that the total solar system cost last year was around $24,000 before federal tax credits and other solar incentives. The Solar Energy Industries Association (SEIA) offers a similar average cost for installing residential solar systems – upwards of $25,000 after installing residential solar systems.
Typically, in Louisiana, solar panel costs range from $16,000 to $36,000 total cost, based on how many solar panels you’ll need and how much the average solar panel cost is per watt.
In Louisiana specifically, the average cost of installing solar panels (with the federal tax credit and solar incentives applied) sits around $11,500, total cost after tax credits.
The average cost of a solar power system changes annually, and the average cost per watt tends to change, as well. The Alexandria solar installer team at Lombardi Electric can provide an exact solar panel cost for commercial or residential solar systems in Louisiana.
Typically, monocrystalline solar panels are the most expensive type of solar system, with the average cost per watt sitting between $1 and $1.50. Meanwhile, thin-film solar panels have a lower solar panel cost, with the cost per watt of thin-film solar panels sitting between $0.75 to $1.10.
How Much Do Solar Panels Save in Lousiana?
When talking about energy production for a solar battery or solar system, our Alexandria solar company, like many solar companies are often asked, “Are solar panels worth it?”, “Will the savings on energy costs eventually justify the total cost of solar systems in Louisiana?”
Yes, solar panels save tons of money eventually. The energy usage per watt that’s provided by your solar system will quickly justify solar panel costs. According to the National Renewable Energy Laboratory, if a homeowner saves $1,000 a year through solar energy, because of the energy production, the solar panels increase the home’s value by roughly $20,000.
Solar companies, like Lombardi Electric, can help you determine the total cost to install solar panels on your home or business. A local solar installer can also help you calculate how much money solar panels save.
For Alexandria solar panel installation questions, contact Lombardi Electric.
Calculate Solar Savings
First, look at your electricity bill from your local utility company. Determine how much energy and how much your annual energy bills cost. The average monthly electricity bill in a standard Louisiana home is $157 monthly. This comes out to a $1,885 annual electric bill.
Next, determine the rate your utility company charges you for energy production. You can find this on your electricity bill, as well. (The cost of electricity in Louisiana is about 12¢ per kWh).
Next, consider how much sun your home gets, the physical size of the solar energy system you’re looking at, how many solar panels you’ll need, labor costs associated with installing solar panels, the soft costs of solar power systems, and more.
For those wondering how to save on your electric bill in Louisiana, renewable energy production from solar systems is it. While the upfront installation costs aren’t cheap, renewable energy production can save you thousands annually on your electric bill. If your solar system completely covers 100% of the energy usage, the average home in Louisiana could save nearly $2,000 on energy costs each year.
Aside from reduced energy bills, there are other ways that a solar system can save you money.
Selling Excess Power Back to the Power Grid
If your solar panels generate excess energy, you can offset your solar system cost by selling it back to the power grid. This will reduce your electricity bill and provides your family or business with additional income as your contribute back to the power grid via your local utility company.
This allows owners of solar panel systems to further offset energy costs and the upfront cost of solar system installation. It’s a win-win situation where you benefit from your solar investment to offset the solar panels cost while contributing to the broader transition toward renewable energy usage.
Federal Solar Tax Credit
The federal government provides solar incentives for homeowners and businesses who work with reputable solar companies, such as federal tax credits. One of these solar incentives, the Federal Solar Tax Credit (ITC), a federal tax credit, allows you to deduct a percentage of the solar panel installation cost from your federal taxes.
For these tax credits, homeowners must have solar panels installed before January 1, 2033. From here, they can claim a 30% federal tax credit on their income taxes. These tax credits alone can drastically reduce the overall solar panel cost.
For federal tax credit or Louisiana solar tax credit assistance, contact our Alexandria solar installation company.
State-Specific Incentives
Many states, including Louisiana, offer additional solar incentives, rebates, or tax credits to promote clean energy adoption. These state-level incentives and tax credits can further reduce the cost of your solar panel installation. Professional solar companies, like Lombardi Electric, can help you understand your state’s solar incentives and applicable tax credits.
Energy Independence
While installation costs will set you back, by producing your own energy, your home or business becomes less susceptible to rising energy prices and power outages. This not only affects electricity bills but also protects you from the volatility that comes with dependence on a local utility company.
Increased Property Value
When you install solar panels, increase in your home’s or commercial property’s resale value is a given. Potential buyers understand the benefits of renewable energy and will pay premiums for properties with solar panels installed.
What Are Soft Costs for Installing Solar Panels in Louisiana?
Before purchasing solar panels or solar batteries, you must weigh installation costs and solar incentives as well as “soft costs” or solar panel installation.
Soft costs encompass various expenses beyond solar panel costs and can include permitting, design, supply chain, labor costs provided to the solar installer, and any other costs associated with the solar panel installation. These costs are essential to ensure a safe and efficient solar panel installation.
As an Alexandria electrical design and inspection company, we’re able to pass along some of these savings to our customers.
What Affects Solar Panel Costs in Louisiana?
The overall solar system cost can vary widely based on several factors. Understanding these factors can help you estimate the total expense more accurately and make an informed decision about your solar project.
Solar Company Costs
Your choice of a solar installation company can impact the overall solar panels cost. Different solar companies may offer varying pricing structures, labor costs, quality of work, and customer service.
For those who want to install solar panels in Louisiana, Lombardi Electric offers quality services and can answer ‘how much do solar panels typically cost for Lousiana homes and businesses’.
Average Cost of Solar Panels and How Many Panels You’ll Need
The size and energy output of your solar panel system will influence the cost. Larger systems with more panels will generate more electricity but also come with a higher upfront cost. Fewer solar panels generate less electricity.
When it comes to determining the size, weight, and number of panels you need for your installation, several critical factors must be considered. To make an informed decision, homeowners and businesses must gather relevant information and assess their specific requirements. Here’s how to determine how many solar panels to buy:
Assess Your Energy Needs
The first step in sizing your solar panel system is to understand your energy consumption. Review your utility bills to gauge how much electricity your household or business uses on average.
This data will serve as a starting point for calculating the size of your installation. Keep in mind that your energy usage may fluctuate throughout the year, so it’s essential to consider seasonal variations. How much energy
Evaluate Available Roof Space
The physical space available on your roof plays a crucial role in determining the number of panels you can install. Measure the available area and consider any obstructions, such as vents or chimneys, that may limit panel placement.
Additionally, the orientation and tilt of your roof affect the panels’ exposure to sunlight. South-facing roofs with a suitable tilt angle typically yield the best results.
Determine Daily Sunlight Hours
The amount of sunlight your location receives is another crucial factor. Efficient solar panels generate electricity when exposed to sunlight, so the number of daily sunlight hours significantly impacts their efficiency. Assess your geographic location and the typical daily sun exposure to estimate how many hours of sunlight your solar panels will receive.
For heavily shaded areas, the solar panels will need to be cleaned more often. Our professionals can maintain or show you how to clean your solar panels.
Calculate Panel Wattage
Solar panels come in various wattage ratings, typically ranging from 250 to 400 watts per panel. The wattage indicates the panel’s power output.
To determine how many panels you need, calculate the total wattage required to meet your energy needs. Divide your daily energy consumption (per watt-hours) by the average daily sunlight hours. This calculation will help you estimate the total wattage necessary for your solar panel system.
Consider Panel Efficiency
Efficiency is another crucial aspect to consider. Higher-efficiency panels can produce more electricity in the same amount of space, allowing you to install fewer panels while achieving the desired power output. However, more efficient panels may come at a higher cost.
Types of Solar Panels Used
Solar panels come in different types. Types of solar panels include monocrystalline panels, polycrystalline panels, and thin-film panels. Each type has its advantages and price points. Monocrystalline solar panels tend to be more efficient than polycrystalline solar panels but are often more expensive.
Solar Panel Manufacturers
The brand and manufacturer of your solar panels can also affect the average cost. Some manufacturers are known for their high-quality and efficient panels, while others offer more budget-friendly options. If you’re unsure which solar panel manufacturer to go with, Lombardi Electric can help.
Solar Panel Efficiency
Efficiency refers to the percentage of sunlight that a solar panel can convert into electricity. More efficient solar panels – such as monocrystalline panels and polycrystalline panels – generally cost more but can result in higher energy production in a smaller space.
Lombardi Electric can help you select the most efficient panels for your specific needs.
Type of Solar Panel System
There are two main types of solar panel systems: grid-tied and off-grid. Grid-tied systems are connected to the utility grid and may require additional equipment, such as inverters and solar batteries, for energy storage. Off-power-grid systems are entirely self-sufficient and usually more expensive due to the need for energy storage solutions.
Federal Solar Tax Credit
As mentioned earlier, the Federal Solar Tax Credit can significantly reduce your solar panel installation costs by allowing you to deduct a portion of the expenses from your federal taxes.
Your Roof Pitch
The angle of your roof can affect the efficiency of your solar energy system. The ideal roof pitch for solar panels is typically around 30 to 45 degrees. If your roof has a steeper or flatter pitch, it may require additional racking or mounting equipment, which can increase costs.
Solar Equipment
Solar equipment, including items like solar batteries and mounting systems, plays a significant role in determining overall solar panel costs. While offering energy storage benefits, a solar battery can increase the upfront cost of a solar installation.
However, they provide energy resilience and can further reduce your reliance on the grid, potentially saving you money over time.
Mounting systems, on the other hand, influence installation expenses, as different types of mounts, such as ground mounts or tracking systems, can vary in complexity and cost. Rooftop installations are often the most cost-effective option, as they utilize existing structures.
Careful consideration of these equipment choices is essential to strike a balance between upfront investment and long-term savings, ensuring your solar panel system is both cost-effective and tailored to your specific energy needs and goals.
Additional Costs To Consider After Solar Panel Installation
While solar panels offer significant long-term savings, it’s important to be aware of additional costs that may arise after installation. Planning for these costs can help you maintain your solar panel system effectively and ensure it continues to generate clean energy efficiently.
Solar Panel Maintenance Costs
Solar electric systems are relatively low-maintenance, but they do require occasional work to maximize their efficiency. Alexandria solar panel maintenance costs may vary depending on your location and the accessibility of your system.
Solar Panel Cleaning Cost
Dust, dirt, and debris can accumulate on the panels over time, reducing their ability to capture sunlight. While many home and business owners choose to clean their panels on their own, we do realize that many customers cannot physically clean their system or just do not have the time.
So, at Lombardi Electric, we offer professional Alexandria solar panel cleaning services.
Home Insurance Costs
Adding solar panels to your property can impact your home insurance premiums. While they may increase slightly due to the added value of the solar installation, the long-term savings from reduced energy bills typically offset this cost.
Tree Trimming Costs
Trees and shading can drastically reduce the efficiency of your panels. Depending on your location, you may need to trim or remove trees to ensure that your panels receive adequate sunlight. Tree trimming costs should be factored into your overall solar project budget.
Solar Repair Costs
While solar panels are durable, they can occasionally require repairs, especially in extreme weather conditions. It’s advisable to budget for potential repair costs to ensure the longevity of your solar panel system.
Solar Financing in Louisiana
Investing in solar panels is a smart decision, but the upfront costs may still be a concern for many individuals and businesses. Fortunately, there are various financing options available to make solar panel installations more affordable.
Community Solar System
A community solar system, also known as a solar garden or shared solar, is a collaborative approach to accessing the benefits of clean energy.
In a community solar program, multiple participants come together to collectively invest in and share the electricity generated by a single solar installation. This innovative solution allows individuals, renters, and businesses without suitable rooftops or the financial means to install solar panels to enjoy the advantages of clean, renewable energy.
Participants can purchase a share of the solar project or subscribe to receive the energy produced by the system, often at a lower rate than standard utility prices. Community solar systems promote sustainability, reduce energy bills, and contribute to a greener future while fostering a sense of environmental responsibility within the community.
Solar Lease
Solar leases offer a practical and budget-friendly way for homeowners and businesses to harness the benefits of solar energy without the upfront costs of purchasing and installing solar panels. With a solar lease, you essentially “rent” solar panels from a solar provider for a fixed monthly fee.
This arrangement allows you to enjoy immediate savings on your electricity bills while reducing your carbon footprint. Solar lease agreements typically include maintenance and monitoring, ensuring that your solar panel system operates efficiently throughout the lease term.
While you won’t own the panels, the lower monthly costs make solar energy accessible to a broader range of individuals and businesses, making it an attractive option for those looking to embrace renewable energy and save money simultaneously.
Solar Loan
Solar loans are a valuable financing option for individuals and businesses looking to transition to clean, renewable energy without the need for a large upfront investment. A solar loan is specifically designed to cover the costs of solar panel installation, including equipment, labor, and installation fees.
With solar loans, you can spread the expense of your solar project over a set payback period, making it more manageable for your budget, until you reach the payback period.
The payback period of a solar loan refers to the amount of time it takes for the energy savings generated by your system to cover the cost of the loan. Typically, this payback period ranges from 5 to 10 years, depending on factors like system size, electricity rates, and loan terms. Once the loan is paid off, homeowners can continue to benefit from reduced energy bills, resulting in significant long-term savings.
As you repay the loan over your set payback period, you’ll simultaneously enjoy reduced energy bills due to the electricity generated, creating a positive cash flow that can ultimately result in significant long-term savings.
Solar loans offer a flexible and accessible way to embrace solar energy, allowing you to enjoy the environmental benefits and financial advantages of renewable power without the barriers of high initial costs.
Power Purchase Agreement (PPA)
A Power Purchase Agreement offers an effective way for homeowners and businesses to adopt solar power without the need for upfront investment or ownership of the solar panel system.
Under a Power Purchase Agreement, you enter into a contract with a solar provider who installs and maintains the panels on your property. In return, you purchase the electricity generated by the panels at a predetermined rate, typically lower than standard utility rates. This arrangement provides immediate savings on your energy bills while reducing your reliance on fossil fuels.
PPAs are especially appealing for those looking to make environmentally responsible choices and want to benefit from clean energy without the complexities of system ownership or maintenance.
Additionally, they often include performance guarantees to ensure that your solar panel system operates efficiently throughout the agreement’s duration, giving you peace of mind and financial savings simultaneously.
Affordable Solar Panels in Alexandria, Louisiana
Lombardi Electric is your trusted partner for all your solar needs in Alexandria, LA. Our experienced team of solar experts can help you navigate the complex world of solar installations, from initial consultation to system design and installation.
Our solar installers are committed to providing affordable solar solutions that help you save money in the long run while reducing your environmental impact.
If you’re ready to take the next step towards harnessing the power of solar energy and want to learn more about the solar panel costs and benefits specific to your situation, contact us today at 318-545-7575.
Whether you’ve got questions or are ready to buy solar panels in Alexandria, our experts are here to provide you with a free solar quote, as well as answer your questions and guide you through the process of going solar with confidence.
