Solar Panel Cost Guide in Covington, LA (2024 Update)
- Covington Solar Installation Cost: $26,379
- 25-Year Savings: $26,670
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Covington
Let’s take a look at the average cost of solar panels in Covington.
The average cost of solar panels in Covington is 4 per watt.The average solar panel system size in Covington is around 9.9 kilowatts, meaning a cost of about $26,379 for a solar installation, or $37,722 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Covington depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $17,000 on electricity bills over 20 years, many homeowners in Covington find going solar can be quite rewarding.
Click the button below to get connected to a top solar company in Covington for a custom estimate.
Solar savings over time in Covington
| Year | Return on Investment |
|---|---|
| 1 years | $-24,801 |
| 3 years | $-21,646 |
| 5 years | $-18,491 |
| 7 years | $-15,335 |
| 9 years | $-12,180 |
| 11 years | $-9,025 |
| 13 years | $-5,870 |
| 15 years | $-2,714 |
| 17 years | $441 |
| 19 years | $3,596 |
| 21 years | $6,751 |
| 23 years | $9,907 |
| 25 years | $13,062 |
Top Solar Installers in Covington
When making the switch to solar, many homeowners opt to go with a solar installer since overseeing your solar installation yourself can be a time-consuming project. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your home.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 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 Covington
Factors that Affect Solar Panel Costs in Covington
For many Covington homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Covington, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Covington, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Covington, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your total costs, so it’s vital to consider that 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 solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Covington, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $10,332 | 15.4 years |
| 8 kW | $3.88 | $21,706 | $14,201 | 15.1 years |
| 10 kW | $3.80 | $26,600 | $18,284 | 14.8 years |
| 12 kW | $3.72 | $31,282 | $22,579 | 14.5 years |
| 14 kW | $3.65 | $35,750 | $27,087 | 14.2 years |
| 16 kW | $3.57 | $40,006 | $31,808 | 13.9 years |
| 18 kW | $3.50 | $44,050 | $36,741 | 13.6 years |
| 20 kW | $3.42 | $47,880 | $41,888 | 13.3 years |
How to Save on Solar Panels
There are numerous companies available in Covington, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: If you’re worried about the durability of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 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 Covington, LA Solar Cost FAQs
How much does it cost to install solar panels in Covington?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 additional solar equipment or more efficient 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.
Is it better to lease or buy solar panels in Covington?
Leasing solar panels can be an attractive choice, because 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 option if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Covington is currently $311,604, which means you can look forward to a value of about $12,776 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Covington is a worthwhile investment.
How long do solar panels last in Covington?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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.
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.