Solar Panel Cost Guide in Monroe, GA (2024 Update)
- Monroe Solar Installation Cost: $17,567
- 25-Year Savings: $21,382
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Monroe
Let’s take a look at the average cost of solar in Monroe.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Monroe, the typical cost of solar panels is 4 per watt.Since a 6.7-kW system is needed to cover the energy consumption of a typical home in Monroe, the average price of going solar will be about $17,567 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with.With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Monroe find installing solar panels can be quite rewarding.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Monroe
| Year | Return on Investment |
|---|---|
| 1 years | $-16,020 |
| 3 years | $-12,925 |
| 5 years | $-9,831 |
| 7 years | $-6,736 |
| 9 years | $-3,642 |
| 11 years | $-547 |
| 13 years | $2,547 |
| 15 years | $5,641 |
| 17 years | $8,736 |
| 19 years | $11,830 |
| 21 years | $14,925 |
| 23 years | $18,019 |
| 25 years | $21,114 |
Top Solar Installers in Monroe
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your switch to solar power much easier. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Monroe
Factors that Affect Solar Panel Costs in Monroe
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Monroe: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,740 per kilowatt in Monroe.The 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, higher efficiency could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Monroe average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make adopting solar energy more accessible for Monroe homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that provides the products, warranties and services you’re looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.89 | $16,336 | $13,493 | 13.7 years |
| 8 kW | $3.81 | $21,363 | $18,409 | 13.4 years |
| 10 kW | $3.74 | $26,180 | $23,535 | 13.2 years |
| 12 kW | $3.67 | $30,788 | $28,871 | 12.9 years |
| 14 kW | $3.59 | $35,186 | $34,416 | 12.6 years |
| 16 kW | $3.52 | $39,375 | $40,170 | 12.4 years |
| 18 kW | $3.44 | $43,354 | $46,134 | 12.1 years |
| 20 kW | $3.37 | $47,124 | $52,307 | 11.8 years |
How to Save on Solar Panels
There are a large number of companies available in Monroe, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should choose, since different companies have access to different panels.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Monroe, GA Solar Cost FAQs
How much does it cost to install solar panels in Monroe?
The average cost of solar panels in Monroe is about $18,700 for a 5-kW system and $37,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $994.31 per year.
How long do solar panels last in Monroe?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.